Amalgamated Bank Has $4.52 Million Holdings in PDC Energy, Inc. (NASDAQ:PDCE)

Amalgamated Bank lifted its position in shares of PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 37.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,193 shares of the energy producer’s stock after buying an additional 16,851 shares during the quarter. Amalgamated Bank owned about 0.07% of PDC Energy worth $4,520,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Marshall Wace LLP bought a new stake in PDC Energy in the fourth quarter valued at $74,067,000. Invesco Ltd. increased its stake in PDC Energy by 133.0% in the first quarter. Invesco Ltd. now owns 1,487,666 shares of the energy producer’s stock valued at $108,123,000 after purchasing an additional 849,289 shares in the last quarter. Wellington Management Group LLP increased its stake in PDC Energy by 61.0% in the first quarter. Wellington Management Group LLP now owns 1,652,103 shares of the energy producer’s stock valued at $120,075,000 after purchasing an additional 625,845 shares in the last quarter. State Street Corp increased its stake in PDC Energy by 13.4% in the first quarter. State Street Corp now owns 4,751,860 shares of the energy producer’s stock valued at $345,365,000 after purchasing an additional 561,339 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in PDC Energy by 47.0% in the first quarter. Frontier Capital Management Co. LLC now owns 1,442,591 shares of the energy producer’s stock valued at $104,848,000 after purchasing an additional 461,103 shares in the last quarter. 96.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PDCE has been the subject of several research analyst reports. MKM Partners reaffirmed a “buy” rating and issued a $76.00 price target on shares of PDC Energy in a research note on Wednesday, July 20th. Truist Financial reduced their price objective on shares of PDC Energy from $105.00 to $97.00 and set a “buy” rating for the company in a report on Monday, August 15th. TheStreet upgraded shares of PDC Energy from a “c+” rating to a “b” rating in a report on Wednesday, August 3rd. KeyCorp assumed coverage on shares of PDC Energy in a report on Monday. They set a “sector weight” rating for the company. Finally, The Goldman Sachs Group reduced their price objective on shares of PDC Energy from $87.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, July 5th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.75.

PDC Energy Stock Up 0.3 %

PDC Energy stock opened at $62.79 on Wednesday. PDC Energy, Inc. has a fifty-two week low of $41.27 and a fifty-two week high of $89.22. The stock has a market cap of $6.05 billion, a PE ratio of 4.97 and a beta of 2.57. The firm’s 50-day simple moving average is $62.82 and its 200 day simple moving average is $67.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.42 and a current ratio of 0.42.

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, topping the consensus estimate of $4.57 by $0.54. PDC Energy had a net margin of 44.67% and a return on equity of 47.13%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Research analysts predict that PDC Energy, Inc. will post 16.52 EPS for the current fiscal year.

PDC Energy Announces Dividend

The business also recently disclosed 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 2.23%. The ex-dividend date of this dividend is Wednesday, September 7th. PDC Energy’s dividend payout ratio is 11.08%.

Insiders Place Their Bets

In other PDC Energy news, CFO R Scott Meyers sold 1,000 shares of PDC Energy stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $61.87, for a total value of $61,870.00. Following the sale, the chief financial officer now owns 116,128 shares of the company’s stock, valued at $7,184,839.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 2,000 shares of PDC Energy stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $61.85, for a total value of $123,700.00. Following the sale, the chief executive officer now owns 388,201 shares of the company’s stock, valued at $24,010,231.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO R Scott Meyers sold 1,000 shares of PDC Energy stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $61.87, for a total transaction of $61,870.00. Following the completion of the sale, 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. Over the last 90 days, insiders have sold 27,000 shares of company stock valued at $1,706,410. Company insiders own 1.20% of the company’s stock.

PDC Energy 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.

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

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