Great West Life Assurance Co. Can Takes Position in PDC Energy, Inc. (NASDAQ:PDCE)

Great West Life Assurance Co. Can bought a new stake in PDC Energy, Inc. (NASDAQ:PDCEGet Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 57,675 shares of the energy producer’s stock, valued at approximately $3,332,000. Great West Life Assurance Co. Can owned 0.06% of PDC Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PDCE. Geneos Wealth Management Inc. raised its stake in shares of PDC Energy by 129.5% in the first quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 250 shares during the period. Covestor Ltd grew its holdings in shares of PDC Energy by 350.7% in the first quarter. Covestor Ltd now owns 631 shares of the energy producer’s stock worth $46,000 after purchasing an additional 491 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of PDC Energy by 23.6% in the third quarter. Fifth Third Bancorp now owns 853 shares of the energy producer’s stock worth $49,000 after purchasing an additional 163 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of PDC Energy by 88.2% in the second quarter. Parallel Advisors LLC now owns 813 shares of the energy producer’s stock worth $50,000 after purchasing an additional 381 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new position in shares of PDC Energy in the second quarter worth about $60,000. Hedge funds and other institutional investors own 96.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PDCE. Truist Financial cut shares of PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a report on Monday, December 12th. The Goldman Sachs Group cut shares of PDC Energy from a “buy” rating to a “neutral” rating and set a $74.00 price target on the stock. in a report on Tuesday, October 18th. Mizuho began coverage on shares of PDC Energy in a report on Monday, January 9th. They issued a “buy” rating and a $97.00 price target on the stock. Finally, StockNews.com cut shares of PDC Energy from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.33.

PDC Energy Stock Up 0.2 %

Shares of PDC Energy stock opened at $68.67 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.48 and a quick ratio of 0.48. PDC Energy, Inc. has a 1 year low of $51.72 and a 1 year high of $89.22. The firm’s 50-day moving average is $67.00 and its two-hundred day moving average is $65.71. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 3.52 and a beta of 2.51.

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

PDC Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 28th. Stockholders of record on Monday, December 19th were issued a $1.00 dividend. This is a boost 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 5.82%. The ex-dividend date was Friday, December 16th. PDC Energy’s dividend payout ratio (DPR) is currently 7.18%.

Insider Activity

In other news, CFO R Scott Meyers sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $73.81, for a total value of $73,810.00. Following the sale, the chief financial officer now directly owns 112,128 shares in the company, valued at approximately $8,276,167.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO R Scott Meyers sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $73.81, for a total value of $73,810.00. Following the sale, the chief financial officer now directly owns 112,128 shares in the company, valued at approximately $8,276,167.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lance Lauck sold 14,121 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $81.14, for a total transaction of $1,145,777.94. Following the completion of the sale, the executive vice president now owns 172,868 shares in the company, valued at $14,026,509.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,339 shares of company stock worth $4,978,981. Corporate insiders own 1.20% of the company’s stock.

PDC Energy Company 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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