PDC Energy Inc (NASDAQ:PDCE) COO Scott J. Reasoner sold 1,714 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $44.01, for a total value of $75,433.14. Following the completion of the transaction, the chief operating officer now directly owns 90,113 shares of the company’s stock, valued at approximately $3,965,873.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
NASDAQ:PDCE opened at $44.85 on Wednesday. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -15.15, a PEG ratio of 0.40 and a beta of 0.76. PDC Energy Inc has a 52 week low of $26.59 and a 52 week high of $66.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.62 and a current ratio of 0.62.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Wednesday, February 27th. The energy producer reported ($2.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($2.78). The company had revenue of $386.40 million during the quarter, compared to the consensus estimate of $360.91 million. PDC Energy had a negative return on equity of 3.09% and a net margin of 0.13%. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period last year, the business posted $1.17 EPS. On average, research analysts forecast that PDC Energy Inc will post 2.87 earnings per share for the current fiscal year.
A number of brokerages recently commented on PDCE. Zacks Investment Research raised PDC Energy from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday. Cowen initiated coverage on PDC Energy in a report on Tuesday, April 9th. They set an “outperform” rating and a $53.00 target price on the stock. BidaskClub raised PDC Energy from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Imperial Capital reaffirmed an “outperform” rating and set a $61.00 target price (up previously from $57.00) on shares of PDC Energy in a report on Tuesday, February 12th. Finally, Credit Suisse Group increased their target price on PDC Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $60.16.
Several hedge funds and other institutional investors have recently made changes to their positions in PDCE. Bank of New York Mellon Corp lifted its holdings in shares of PDC Energy by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,767,075 shares of the energy producer’s stock worth $86,517,000 after purchasing an additional 26,870 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of PDC Energy by 39.5% in the 3rd quarter. Riverhead Capital Management LLC now owns 10,598 shares of the energy producer’s stock worth $519,000 after purchasing an additional 3,000 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of PDC Energy in the 3rd quarter worth approximately $283,000. MetLife Investment Advisors LLC lifted its holdings in shares of PDC Energy by 47.3% in the 3rd quarter. MetLife Investment Advisors LLC now owns 44,657 shares of the energy producer’s stock worth $2,186,000 after purchasing an additional 14,340 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of PDC Energy by 338.6% in the 3rd quarter. Mackenzie Financial Corp now owns 103,500 shares of the energy producer’s stock worth $5,067,000 after purchasing an additional 79,900 shares during the last quarter.
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PDC Energy Company Profile
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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.
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