PDC Energy Inc (NASDAQ:PDCE) COO Scott J. Reasoner sold 1,300 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $40.00, for a total value of $52,000.00. Following the transaction, the chief operating officer now owns 91,827 shares of the company’s stock, valued at $3,673,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
PDCE stock traded down $0.17 during mid-day trading on Friday, reaching $40.38. The company had a trading volume of 1,638,288 shares, compared to its average volume of 1,227,055. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.47. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -13.64, a P/E/G ratio of 0.42 and a beta of 0.74. PDC Energy Inc has a 52 week low of $26.59 and a 52 week high of $66.20.
PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Wednesday, February 27th. The energy producer reported ($2.22) earnings per share for the quarter, missing the Zacks’ 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 net margin of 0.13% and a negative return on equity of 3.09%. The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, equities research analysts anticipate that PDC Energy Inc will post 2.39 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its position in shares of PDC Energy by 2.1% in the third quarter. Vanguard Group Inc now owns 6,571,551 shares of the energy producer’s stock valued at $321,744,000 after buying an additional 137,366 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of PDC Energy by 2.1% in the third quarter. Vanguard Group Inc. now owns 6,571,551 shares of the energy producer’s stock valued at $321,744,000 after buying an additional 137,366 shares during the last quarter. FMR LLC lifted its position in shares of PDC Energy by 12.4% in the third quarter. FMR LLC now owns 3,805,490 shares of the energy producer’s stock valued at $186,317,000 after buying an additional 419,986 shares during the last quarter. Millennium Management LLC lifted its position in shares of PDC Energy by 1,092.0% in the fourth quarter. Millennium Management LLC now owns 2,071,379 shares of the energy producer’s stock valued at $61,644,000 after buying an additional 1,897,607 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of PDC Energy by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 1,767,075 shares of the energy producer’s stock valued at $86,517,000 after buying an additional 26,870 shares during the last quarter.
PDCE has been the subject of a number of research reports. MKM Partners initiated coverage on PDC Energy in a report on Wednesday, December 5th. They set a “buy” rating and a $67.00 price objective for the company. Stephens initiated coverage on PDC Energy in a report on Thursday, December 6th. They set an “overweight” rating and a $72.00 price objective for the company. JPMorgan Chase & Co. set a $40.00 price objective on PDC Energy and gave the stock a “buy” rating in a report on Friday, December 7th. Wolfe Research downgraded PDC Energy from a “market perform” rating to an “underperform” rating in a report on Monday, December 10th. Finally, Williams Capital reiterated a “buy” rating and set a $62.00 price objective on shares of PDC Energy in a report on Wednesday, December 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. PDC Energy presently has a consensus rating of “Buy” and a consensus target price of $60.85.
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. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
Further Reading: Do back-end load funds outperform no-load funds?
Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.