PDC Energy, Inc. (NASDAQ:PDCE) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its stake in shares of PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 22.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,557 shares of the energy producer’s stock after acquiring an additional 466 shares during the period. Advisors Asset Management Inc.’s holdings in PDC Energy were worth $158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PDCE. Prospera Financial Services Inc acquired a new stake in shares of PDC Energy during the 1st quarter valued at $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 valued at $32,000 after purchasing an additional 178 shares during the period. Geneos Wealth Management Inc. raised 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 valued at $32,000 after purchasing an additional 250 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in PDC Energy during the 1st quarter valued at $36,000. Finally, Covestor Ltd raised its stake in PDC Energy by 350.7% during 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.

PDC Energy Trading Down 3.3 %

PDC Energy stock opened at $73.62 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 3.78 and a beta of 2.52. PDC Energy, Inc. has a one year low of $44.00 and a one year high of $89.22. The company’s fifty day moving average price is $68.42 and its two-hundred day moving average price is $66.95.

PDC Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, September 7th. PDC Energy’s payout ratio is 7.18%.

Insiders Place Their Bets

In other PDC Energy news, SVP Nicole L. Martinet sold 7,000 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $82.00, for a total transaction of $574,000.00. Following the transaction, the senior vice president now directly owns 44,066 shares of the company’s stock, valued at $3,613,412. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PDC Energy news, SVP Nicole L. Martinet sold 7,000 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $82.00, for a total transaction of $574,000.00. Following the completion of the sale, the senior vice president now directly owns 44,066 shares in the company, valued at $3,613,412. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO R Scott Meyers sold 1,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $60.15, for a total transaction of $60,150.00. Following the sale, the chief financial officer now owns 113,128 shares of the company’s stock, valued at $6,804,649.20. The disclosure for this sale can be found here. Insiders have sold 61,839 shares of company stock valued at $4,658,166 over the last three months. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PDCE has been the topic of several recent analyst reports. TheStreet raised shares of PDC Energy from a “c+” rating to a “b” rating in a research note on Wednesday, August 3rd. KeyCorp initiated coverage on shares of PDC Energy in a research note on Monday, September 19th. They set a “sector weight” rating on the stock. Truist Financial boosted their target price on shares of PDC Energy from $97.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 7th. The Goldman Sachs Group downgraded shares of PDC Energy from a “buy” rating to a “neutral” rating and set a $74.00 price target on the stock. in a research note on Tuesday, October 18th. Finally, StockNews.com downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.75.

About PDC Energy

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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.

See Also

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

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