PDC Energy, Inc. (NASDAQ:PDCE) Director David C. Parke Sells 4,278 Shares

PDC Energy, Inc. (NASDAQ:PDCEGet Rating) Director David C. Parke sold 4,278 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $69.91, for a total value of $299,074.98. Following the completion of the transaction, the director now owns 24,448 shares of the company’s stock, valued at $1,709,159.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of PDCE opened at $66.02 on Friday. The firm has a market cap of $6.30 billion, a PE ratio of 13.15 and a beta of 2.75. The company’s fifty day moving average is $71.73 and its two-hundred day moving average is $60.74. PDC Energy, Inc. has a fifty-two week low of $34.52 and a fifty-two week high of $79.39. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.34.

PDC Energy (NASDAQ:PDCEGet Rating) last issued its earnings results on Wednesday, May 4th. The energy producer reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.73. PDC Energy had a net margin of 26.48% and a return on equity of 38.99%. The business had revenue of $316.45 million for the quarter, compared to the consensus estimate of $702.98 million. During the same quarter last year, the firm posted $1.41 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that PDC Energy, Inc. will post 17.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Thursday, March 10th. This is an increase from PDC Energy’s previous quarterly dividend of $0.12. PDC Energy’s dividend payout ratio (DPR) is currently 19.92%.

Hedge funds have recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in PDC Energy during the 4th quarter worth $74,067,000. Principal Financial Group Inc. increased its stake in PDC Energy by 88.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,830,697 shares of the energy producer’s stock worth $89,301,000 after buying an additional 858,561 shares during the period. First Trust Advisors LP increased its stake in PDC Energy by 223.8% during the 4th quarter. First Trust Advisors LP now owns 820,470 shares of the energy producer’s stock worth $40,023,000 after buying an additional 567,065 shares during the period. Frontier Capital Management Co. LLC increased its stake in PDC Energy by 47.0% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,442,591 shares of the energy producer’s stock worth $104,848,000 after buying an additional 461,103 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in PDC Energy by 31.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,676,851 shares of the energy producer’s stock worth $81,797,000 after buying an additional 405,088 shares during the period.

PDCE has been the subject of several analyst reports. TheStreet lowered PDC Energy from a “b” rating to a “c+” rating in a research note on Wednesday, May 4th. BMO Capital Markets upped their price objective on shares of PDC Energy from $65.00 to $73.00 in a research note on Tuesday, March 1st. Wells Fargo & Company raised their target price on shares of PDC Energy from $71.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, March 14th. Stifel Nicolaus upped their price target on shares of PDC Energy from $82.00 to $87.00 in a research report on Monday, February 28th. Finally, MKM Partners increased their price target on shares of PDC Energy from $72.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, March 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $81.78.

About PDC Energy (Get Rating)

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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