PDC Energy Target of Unusually Large Options Trading (NASDAQ:PDCE)

PDC Energy Inc (NASDAQ:PDCE) was the target of unusually large options trading activity on Tuesday. Traders purchased 2,021 put options on the company. This is an increase of 712% compared to the average daily volume of 249 put options.

Several institutional investors have recently made changes to their positions in the company. State Street Corp grew its stake in shares of PDC Energy by 56.7% in the first quarter. State Street Corp now owns 6,017,139 shares of the energy producer’s stock worth $37,366,000 after acquiring an additional 2,178,114 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of PDC Energy by 67.0% in the first quarter. Geode Capital Management LLC now owns 1,445,493 shares of the energy producer’s stock worth $8,976,000 after acquiring an additional 579,858 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of PDC Energy by 1.7% in the second quarter. Frontier Capital Management Co. LLC now owns 1,283,851 shares of the energy producer’s stock worth $15,971,000 after acquiring an additional 21,328 shares during the last quarter. Weiss Multi Strategy Advisers LLC grew its stake in shares of PDC Energy by 355.6% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 1,130,000 shares of the energy producer’s stock worth $7,017,000 after acquiring an additional 882,001 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of PDC Energy by 39.0% in the first quarter. Principal Financial Group Inc. now owns 1,006,465 shares of the energy producer’s stock worth $6,250,000 after acquiring an additional 282,586 shares during the last quarter.

Shares of PDCE stock opened at $11.80 on Wednesday. PDC Energy has a 12 month low of $4.51 and a 12 month high of $36.49. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $15.09 and its two-hundred day moving average is $12.79. The company has a market cap of $1.18 billion, a PE ratio of -1.63 and a beta of 3.10.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Wednesday, August 5th. The energy producer reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.37. PDC Energy had a negative return on equity of 2.57% and a negative net margin of 47.97%. The company had revenue of $175.20 million for the quarter, compared to the consensus estimate of $244.21 million. As a group, equities analysts expect that PDC Energy will post -0.42 EPS for the current fiscal year.

A number of analysts have recently issued reports on PDCE shares. Imperial Capital increased their price target on shares of PDC Energy from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Stifel Nicolaus reduced their price target on shares of PDC Energy from $26.00 to $20.00 in a research report on Tuesday. BidaskClub lowered shares of PDC Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 3rd. Zacks Investment Research lowered shares of PDC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, SunTrust Banks raised their price objective on shares of PDC Energy from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. PDC Energy presently has a consensus rating of “Buy” and an average price target of $23.57.

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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