FNY Investment Advisers LLC acquired a new position in PDC Energy, Inc. (NASDAQ:PDCE – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,000 shares of the energy producer’s stock, valued at approximately $284,000.
Several other hedge funds have also recently bought and sold shares of PDCE. Natixis bought a new stake in shares of PDC Energy during the fourth quarter valued at approximately $25,000. Belpointe Asset Management LLC acquired a new position in PDC Energy during the 4th quarter worth $27,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of PDC Energy by 2,600.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 459 shares of the energy producer’s stock worth $29,000 after purchasing an additional 442 shares in the last quarter. Geneos Wealth Management Inc. grew 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 worth $32,000 after purchasing an additional 250 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of PDC Energy during the first quarter valued at $41,000. 95.18% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have commented on PDCE shares. StockNews.com began coverage on shares of PDC Energy in a research note on Wednesday. They set a “hold” rating on the stock. Mizuho cut PDC Energy from a “buy” rating to a “neutral” rating in a report on Wednesday, May 24th. Seaport Res Ptn downgraded PDC Energy from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 18th. Finally, Truist Financial lowered their price target on PDC Energy from $77.00 to $74.00 in a research report on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.75.
Insider Buying and Selling
In other PDC Energy news, CFO R Scott Meyers sold 2,500 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $70.87, for a total transaction of $177,175.00. Following the completion of the sale, the chief financial officer now directly owns 154,910 shares of the company’s stock, valued at $10,978,471.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by company insiders.
PDC Energy Price Performance
PDC Energy stock remained flat at $73.85 during mid-day trading on Friday. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 3.69, a PEG ratio of 0.16 and a beta of 2.47. PDC Energy, Inc. has a one year low of $51.85 and a one year high of $82.24. The business’s fifty day simple moving average is $73.69 and its two-hundred day simple moving average is $69.25. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.34.
PDC Energy (NASDAQ:PDCE – Get Free Report) last issued its earnings results on Tuesday, August 1st. The energy producer reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.95 by ($0.30). The company had revenue of $871.81 million during the quarter, compared to analyst estimates of $801.61 million. PDC Energy had a return on equity of 28.47% and a net margin of 43.85%. On average, analysts predict that PDC Energy, Inc. will post 12.27 EPS for the current fiscal year.
About PDC Energy
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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