United Services Automobile Association Raises Position in PDC Energy, Inc. (NASDAQ:PDCE)

United Services Automobile Association increased its holdings in PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) by 2.1% during the third quarter, Holdings Channel.com reports. The firm owned 10,638 shares of the energy producer’s stock after acquiring an additional 220 shares during the quarter. United Services Automobile Association’s holdings in PDC Energy were worth $614,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in PDC Energy by 129.5% in the first quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock worth $32,000 after buying an additional 250 shares during the last quarter. Covestor Ltd boosted its position 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 period. Quadrant Capital Group LLC boosted its position in shares of PDC Energy by 38.5% in the third quarter. Quadrant Capital Group LLC now owns 831 shares of the energy producer’s stock worth $48,000 after purchasing an additional 231 shares during the period. Fifth Third Bancorp boosted its position 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 period. Finally, CoreCap Advisors LLC bought a new position in shares of PDC Energy in the second quarter worth approximately $60,000. Institutional investors own 96.16% of the company’s stock.

PDC Energy Stock Up 0.7 %

Shares of NASDAQ:PDCE opened at $63.43 on Wednesday. The firm’s 50-day moving average is $65.79 and its two-hundred day moving average is $66.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.42 and a quick ratio of 0.42. PDC Energy, Inc. has a 1 year low of $51.72 and a 1 year high of $89.22. The firm has a market capitalization of $5.61 billion, a PE ratio of 3.43, a price-to-earnings-growth ratio of 0.12 and a beta of 2.54.

PDC Energy (NASDAQ:PDCE – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The energy producer reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.17. PDC Energy had a return on equity of 42.84% and a net margin of 46.24%. The business had revenue of $879.50 million during the quarter, compared to the consensus estimate of $892.11 million. During the same period in the prior year, the company earned $2.86 earnings per share. The company’s revenue was down 41.8% compared to the same quarter last year. Analysts predict that PDC Energy, Inc. will post 14.01 EPS for the current year.

PDC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Thursday, March 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Wednesday, March 1st. PDC Energy’s dividend payout ratio is currently 8.65%.

Insider Activity

In related news, Director Lynn A. Peterson sold 7,000 shares of the stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $64.08, for a total transaction of $448,560.00. Following the sale, the director now owns 254,167 shares of the company’s stock, valued at $16,287,021.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Lynn A. Peterson sold 7,000 shares of the stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $64.08, for a total transaction of $448,560.00. Following the sale, the director now owns 254,167 shares of the company’s stock, valued at $16,287,021.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO R Scott Meyers sold 2,500 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $67.45, for a total value of $168,625.00. Following the sale, the chief financial officer now directly owns 166,690 shares in the company, valued at approximately $11,243,240.50. The disclosure for this sale can be found here. Insiders sold a total of 20,500 shares of company stock worth $1,344,555 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho dropped their target price on shares of PDC Energy from $97.00 to $93.00 in a research report on Friday, March 10th. Roth Capital reiterated a “buy” rating on shares of PDC Energy in a report on Friday, February 17th. 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. Finally, StockNews.com cut shares of PDC Energy from a “buy” rating to a “hold” rating in a report on Saturday, March 4th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.33.

PDC Energy Profile

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PDC Energy, Inc engages in the exploration and production of oil and natural gas. The firm acquires, explores, and develops properties for the production of crude oil, natural gas, and natural gas liquids. Its primary operations are located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.