PDC Energy, Inc. (NASDAQ:PDCE) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lifted its holdings in PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) by 6.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 14,400 shares of the energy producer’s stock after buying an additional 829 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in PDC Energy were worth $832,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its holdings 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 in the last quarter. Covestor Ltd grew its holdings 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 in the last quarter. Parallel Advisors LLC grew its holdings in PDC Energy by 88.2% during the 2nd quarter. Parallel Advisors LLC now owns 813 shares of the energy producer’s stock valued at $50,000 after purchasing an additional 381 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in PDC Energy during the 2nd quarter valued at $60,000. Finally, Pinebridge Investments L.P. grew its holdings in PDC Energy by 407.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,015 shares of the energy producer’s stock valued at $63,000 after purchasing an additional 815 shares in the last quarter. Institutional investors and hedge funds own 96.16% of the company’s stock.

Insider Transactions at PDC Energy

In other news, CFO R Scott Meyers sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $67.45, for a total value of $168,625.00. Following the transaction, the chief financial officer now directly owns 166,690 shares in the company, valued at approximately $11,243,240.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Pamela R. Butcher acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The shares were purchased at an average cost of $68.28 per share, for a total transaction of $68,280.00. Following the transaction, the director now directly owns 4,787 shares in the company, valued at approximately $326,856.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO R Scott Meyers sold 2,500 shares of PDC Energy stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $67.45, for a total transaction of $168,625.00. Following the completion of the sale, the chief financial officer now owns 166,690 shares in the company, valued at $11,243,240.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,339 shares of company stock worth $4,978,981. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PDCE shares. StockNews.com lowered shares of PDC Energy from a “buy” rating to a “hold” rating in a report on Friday, November 4th. The Goldman Sachs Group lowered shares of PDC Energy from a “buy” rating to a “neutral” rating and set a $74.00 price objective for the company. in a report on Tuesday, October 18th. Truist Financial lowered shares of PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 price objective for the company. in a report on Monday, December 12th. Finally, Mizuho started coverage on shares of PDC Energy in a report on Monday, January 9th. They set a “buy” rating and a $97.00 price objective for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.33.

PDC Energy Trading Up 0.8 %

PDC Energy stock opened at $67.63 on Monday. The firm’s 50-day moving average is $67.44 and its 200-day moving average is $65.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.48 and a current ratio of 0.48. PDC Energy, Inc. has a 1 year low of $51.18 and a 1 year high of $89.22. The company has a market cap of $6.23 billion, a P/E ratio of 3.47 and a beta of 2.51.

PDC Energy (NASDAQ:PDCE – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The energy producer reported $3.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.13 by ($0.36). PDC Energy had a return on equity of 45.90% and a net margin of 49.76%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.06 billion. On average, equities analysts expect that PDC Energy, Inc. will post 15.73 earnings per share for the current year.

PDC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 28th. Stockholders of record on Monday, December 19th were given a $1.00 dividend. This is an increase from PDC Energy’s previous quarterly dividend of $0.35. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date was Friday, December 16th. PDC Energy’s dividend payout ratio (DPR) is presently 7.18%.

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.