PDC Energy, Inc. (NASDAQ:PDCE) Receives Consensus Rating of “Buy” from Analysts

Shares of PDC Energy, Inc. (NASDAQ:PDCEGet Rating) have been assigned an average recommendation of “Buy” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $86.75.

Several brokerages recently issued reports on PDCE. Truist Financial lowered their price target on PDC Energy from $105.00 to $97.00 and set a “buy” rating on the stock in a research note on Monday, August 15th. The Goldman Sachs Group lowered their price target on PDC Energy from $87.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, July 5th. TheStreet upgraded PDC Energy from a “c+” rating to a “b” rating in a research note on Wednesday, August 3rd. Wells Fargo & Company upped their price objective on PDC Energy from $102.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, July 11th. Finally, MKM Partners reiterated a “buy” rating and issued a $76.00 price objective on shares of PDC Energy in a research note on Wednesday, July 20th.

PDC Energy Price Performance

NASDAQ PDCE opened at $66.83 on Monday. PDC Energy has a twelve month low of $40.41 and a twelve month high of $89.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $6.44 billion, a PE ratio of 5.29 and a beta of 2.63. The stock has a 50-day simple moving average of $61.36 and a 200 day simple moving average of $67.46.

PDC Energy (NASDAQ:PDCEGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The energy producer reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.57 by $0.54. PDC Energy had a return on equity of 47.13% and a net margin of 44.67%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Research analysts anticipate that PDC Energy will post 16.62 EPS for the current year.

PDC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 8th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.40 dividend on an annualized basis and a yield of 2.09%. PDC Energy’s dividend payout ratio (DPR) is presently 11.08%.

Insider Buying and Selling

In related news, CFO R Scott Meyers sold 1,000 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $61.87, for a total transaction of $61,870.00. Following the sale, the chief financial officer now directly owns 116,128 shares in the company, valued at approximately $7,184,839.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other PDC Energy news, Director Lynn A. Peterson sold 7,000 shares of the company’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $80.55, for a total transaction of $563,850.00. Following the transaction, the director now owns 296,167 shares of the company’s stock, valued at approximately $23,856,251.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO R Scott Meyers sold 1,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $61.87, for a total value of $61,870.00. Following the transaction, the chief financial officer now directly owns 116,128 shares in the company, valued at approximately $7,184,839.36. The disclosure for this sale can be found here. Insiders have sold a total of 27,000 shares of company stock worth $1,809,240 in the last three months. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Prospera Financial Services Inc acquired a new position in shares of PDC Energy in the 1st quarter valued at $29,000. FinTrust Capital Advisors LLC lifted its stake in shares of PDC Energy by 68.7% in the 1st quarter. FinTrust Capital Advisors LLC now owns 437 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 178 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of PDC Energy by 129.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 250 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of PDC Energy in the 1st quarter valued at $36,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of PDC Energy in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 96.91% of the company’s stock.

PDC Energy Company Profile

(Get Rating)

PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.

See Also

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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