Teachers Retirement System of The State of Kentucky Has $4.50 Million Holdings in PDC Energy, Inc. (NASDAQ:PDCE)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 15.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 61,914 shares of the energy producer’s stock after selling 11,012 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PDC Energy were worth $4,501,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PDCE. Prospera Financial Services Inc acquired a new stake in PDC Energy during the 1st quarter worth $29,000. FinTrust Capital Advisors LLC raised its stake in PDC Energy by 68.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 437 shares of the energy producer’s stock worth $32,000 after buying an additional 178 shares during the period. Geneos Wealth Management Inc. raised 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. Rockefeller Capital Management L.P. raised its stake in shares of PDC Energy by 169.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 810 shares of the energy producer’s stock valued at $39,000 after purchasing an additional 509 shares during the period. Finally, Covestor Ltd raised its stake in shares of PDC Energy by 350.7% in the 1st quarter. Covestor Ltd now owns 631 shares of the energy producer’s stock valued at $46,000 after purchasing an additional 491 shares during the period. Institutional investors and hedge funds own 96.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial dropped 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. MKM Partners reissued a “buy” rating and issued a $76.00 price target on shares of PDC Energy in a research note on Wednesday, July 20th. TheStreet raised PDC Energy from a “c+” rating to a “b” rating in a research note on Wednesday, August 3rd. Wells Fargo & Company lifted their price target 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, The Goldman Sachs Group lowered their target price on PDC Energy from $87.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, July 5th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $86.75.

PDC Energy Stock Down 3.2 %

NASDAQ PDCE opened at $62.40 on Monday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.49. PDC Energy, Inc. has a 1-year low of $41.27 and a 1-year high of $89.22. The company has a 50 day moving average of $62.52 and a 200-day moving average of $68.09. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 4.94 and a beta of 2.57.

PDC Energy (NASDAQ:PDCEGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The energy producer reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.57 by $0.54. PDC Energy had a net margin of 44.67% and a return on equity of 47.13%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. On average, equities research analysts expect that PDC Energy, Inc. will post 16.52 earnings per share for the current fiscal year.

PDC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th will be given a $0.35 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.24%. PDC Energy’s payout ratio is 11.08%.

Insider Buying and Selling at PDC Energy

In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $61.85, for a total transaction of $123,700.00. Following the completion of the transaction, the chief executive officer now directly owns 388,201 shares in the company, valued at $24,010,231.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $61.85, for a total transaction of $123,700.00. Following the completion of the transaction, the chief executive officer now directly owns 388,201 shares in the company, valued at $24,010,231.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO R Scott Meyers sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $61.87, for a total transaction of $61,870.00. Following the transaction, the chief financial officer now owns 116,128 shares of the company’s stock, valued at $7,184,839.36. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock worth $1,245,390 over the last three months. Corporate insiders own 1.20% of the company’s stock.

About PDC Energy

(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.

Featured Articles

Want to see what other hedge funds are holding PDCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDC Energy, Inc. (NASDAQ:PDCEGet Rating).

Institutional Ownership by Quarter for PDC Energy (NASDAQ:PDCE)

Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.