PDC Energy, Inc. (NASDAQ:PDCE) was the target of unusually large options trading on Friday. Investors bought 2,579 call options on the company. This is an increase of 534% compared to the typical daily volume of 407 call options.
PDCE stock traded down $0.25 during trading on Friday, reaching $48.78. The stock had a trading volume of 521,204 shares, compared to its average volume of 934,867. PDC Energy has a 1-year low of $20.09 and a 1-year high of $59.00. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $4.75 billion, a P/E ratio of 119.59 and a beta of 3.20. The firm has a fifty day moving average price of $52.17 and a 200 day moving average price of $46.55.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Wednesday, November 3rd. The energy producer reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.88. The firm had revenue of $704.04 million for the quarter, compared to analyst estimates of $565.58 million. PDC Energy had a net margin of 3.33% and a return on equity of 25.49%. During the same quarter in the previous year, the business posted $1.04 EPS. Sell-side analysts predict that PDC Energy will post 7.84 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 29th. Stockholders of record on Friday, December 17th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Thursday, December 16th. PDC Energy's payout ratio is currently 117.07%.
In other PDC Energy news, SVP Nicole L. Martinet sold 1,000 shares of the business's stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $56.90, for a total value of $56,900.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lynn A. Peterson sold 5,000 shares of the company's stock in a transaction on Friday, October 15th. The shares were sold at an average price of $51.06, for a total value of $255,300.00. The disclosure for this sale can be found here. Insiders sold a total of 24,959 shares of company stock worth $1,313,054 over the last ninety days. Insiders own 0.97% of the company's stock.
Several large investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC grew its position in shares of PDC Energy by 15.9% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 798,923 shares of the energy producer's stock valued at $37,861,000 after buying an additional 109,367 shares during the last quarter. Moors & Cabot Inc. acquired a new position in PDC Energy during the 3rd quarter valued at about $26,000. Captrust Financial Advisors boosted its stake in PDC Energy by 5.6% during the 3rd quarter. Captrust Financial Advisors now owns 5,020 shares of the energy producer's stock valued at $238,000 after purchasing an additional 265 shares during the period. BNP Paribas Arbitrage SA boosted its stake in PDC Energy by 44.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 106,058 shares of the energy producer's stock valued at $5,026,000 after purchasing an additional 32,413 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in PDC Energy during the 3rd quarter valued at about $477,000.
A number of brokerages have commented on PDCE. Zacks Investment Research cut PDC Energy from a "buy" rating to a "hold" rating and set a $48.00 price target for the company. in a research report on Friday, September 17th. Truist Securities lowered their target price on PDC Energy from $67.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, October 1st. Truist lowered their target price on PDC Energy from $67.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, October 1st. Johnson Rice cut PDC Energy from a "buy" rating to an "accumulate" rating in a report on Thursday, October 28th. Finally, TD Securities upped their price target on PDC Energy from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, November 4th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $54.78.
PDC Energy Company Profile
PDC Energy, Inc engages in the exploration and production of oil and natural gas. The firm acquires, explores, and develops properties for the production of crude oil, natural gas, and natural gas liquids. Its primary operations are located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
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