PDC Energy, Inc. (NASDAQ:PDCE) Shares Acquired by Gradient Investments LLC

Gradient Investments LLC boosted its stake in PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 53.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,847 shares of the energy producer’s stock after acquiring an additional 1,689 shares during the quarter. Gradient Investments LLC’s holdings in PDC Energy were worth $299,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in PDCE. Prospera Financial Services Inc acquired a new stake in PDC Energy in the 1st quarter valued at $29,000. FinTrust Capital Advisors LLC boosted 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 purchasing an additional 178 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in PDC Energy by 129.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock worth $32,000 after purchasing an additional 250 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in PDC Energy during the 1st quarter worth $36,000. Finally, Rockefeller Capital Management L.P. boosted its stake in PDC Energy by 169.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 810 shares of the energy producer’s stock worth $39,000 after purchasing an additional 509 shares during the last quarter. Institutional investors and hedge funds own 96.91% of the company’s stock.

Insider Buying and Selling at PDC Energy

In other PDC Energy news, Director Lynn A. Peterson sold 7,000 shares of PDC Energy stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $65.86, for a total value of $461,020.00. Following the completion of the transaction, the director now directly owns 275,167 shares of the company’s stock, valued at approximately $18,122,498.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Lynn A. Peterson sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $65.86, for a total transaction of $461,020.00. Following the completion of the transaction, the director now directly owns 275,167 shares of the company’s stock, valued at $18,122,498.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $61.85, for a total value of $123,700.00. Following the transaction, the chief executive officer now directly owns 388,201 shares of the company’s stock, valued at $24,010,231.85. The disclosure for this sale can be found here. Insiders sold a total of 27,000 shares of company stock valued at $1,706,410 in the last three months. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PDCE shares. MKM Partners reaffirmed a “buy” rating and set a $76.00 target price on shares of PDC Energy in a research note on Wednesday, July 20th. The Goldman Sachs Group lowered their target price on shares of PDC Energy from $87.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, July 5th. Truist Financial reduced their price target on PDC Energy from $105.00 to $97.00 and set a “buy” rating on the stock in a report on Monday, August 15th. TheStreet upgraded PDC Energy from a “c+” rating to a “b” rating in a report on Wednesday, August 3rd. Finally, Wells Fargo & Company lifted their price target on PDC Energy from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 11th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.75.

PDC Energy Stock Up 0.4 %

Shares of PDCE opened at $62.63 on Tuesday. The firm has a market cap of $6.03 billion, a P/E ratio of 4.95 and a beta of 2.57. PDC Energy, Inc. has a 12-month low of $41.27 and a 12-month high of $89.22. The company’s 50-day moving average price is $62.64 and its 200 day moving average price is $68.03. 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 (NASDAQ:PDCEGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The energy producer reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.54. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. PDC Energy had a net margin of 44.67% and a return on equity of 47.13%. On average, sell-side analysts forecast that PDC Energy, Inc. will post 16.52 earnings per share for the current year.

PDC Energy Dividend Announcement

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

PDC Energy Company Profile

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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.

Further Reading

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

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