PDC Energy (NASDAQ:PDCE) Shares Gap Up to $65.12

PDC Energy, Inc. (NASDAQ:PDCE – Get Rating)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $65.12, but opened at $70.50. PDC Energy shares last traded at $70.25, with a volume of 2,248,457 shares changing hands.

Wall Street Analysts Forecast Growth

PDCE has been the topic of several recent analyst reports. Truist Financial raised their price target on PDC Energy from $70.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, April 11th. StockNews.com began coverage on PDC Energy in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Roth Capital reiterated a “buy” rating on shares of PDC Energy in a research report on Friday, February 17th. JPMorgan Chase & Co. increased their price objective on PDC Energy from $76.00 to $80.00 in a research report on Thursday, April 6th. Finally, Mizuho reiterated a “buy” rating and set a $93.00 price objective on shares of PDC Energy in a research report on Tuesday, April 11th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.50.

PDC Energy Trading Up 2.7 %

The firm has a 50-day moving average of $64.28 and a 200-day moving average of $66.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $6.28 billion, a P/E ratio of 3.06, a price-to-earnings-growth ratio of 0.14 and a beta of 2.51.

PDC Energy (NASDAQ:PDCE – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The energy producer reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.05 by $0.17. PDC Energy had a return on equity of 35.66% and a net margin of 49.57%. The business had revenue of $879.50 million for the quarter, compared to analyst estimates of $892.11 million. During the same period last year, the company earned $2.86 EPS. PDC Energy’s revenue for the quarter was down 41.8% compared to the same quarter last year. On average, equities research analysts anticipate that PDC Energy, Inc. will post 13.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Troy M. Welling sold 1,200 shares of PDC Energy stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $63.37, for a total value of $76,044.00. Following the sale, the chief accounting officer now directly owns 13,269 shares in the company, valued at approximately $840,856.53. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO R Scott Meyers sold 2,500 shares of PDC Energy stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the sale, the chief financial officer now directly owns 164,910 shares in the company, valued at approximately $9,894,600. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Troy M. Welling sold 1,200 shares of PDC Energy stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $63.37, for a total value of $76,044.00. Following the completion of the sale, the chief accounting officer now owns 13,269 shares in the company, valued at $840,856.53. The disclosure for this sale can be found here. Insiders have sold a total of 26,700 shares of company stock worth $1,736,659 in the last ninety days. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PDC Energy

Large investors have recently made changes to their positions in the business. Illinois Municipal Retirement Fund grew its position in shares of PDC Energy by 61.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 11,503 shares of the energy producer’s stock worth $665,000 after buying an additional 4,388 shares during the last quarter. Bailard Inc. purchased a new position in shares of PDC Energy in the 4th quarter valued at approximately $362,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of PDC Energy in the 4th quarter valued at approximately $26,000. Ronald Blue Trust Inc. lifted its stake in shares of PDC Energy by 1,007.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 941 shares of the energy producer’s stock valued at $54,000 after purchasing an additional 856 shares during the period. Finally, Psagot Value Holdings Ltd. Israel purchased a new position in shares of PDC Energy in the 4th quarter valued at approximately $190,000. 96.16% of the stock is currently owned by institutional investors.

PDC Energy Company 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.