PDC Energy, Inc. (NASDAQ:PDCE) Director Sells $470,750.00 in Stock

PDC Energy, Inc. (NASDAQ:PDCEGet Rating) Director Lynn A. Peterson sold 7,000 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $67.25, for a total transaction of $470,750.00. Following the transaction, the director now owns 300,499 shares of the company’s stock, valued at approximately $20,208,557.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of PDC Energy stock opened at $67.11 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.58 and a quick ratio of 0.58. PDC Energy, Inc. has a 1 year low of $34.52 and a 1 year high of $79.39. The firm’s 50-day moving average is $71.59 and its two-hundred day moving average is $61.10. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 13.37 and a beta of 2.74.

PDC Energy (NASDAQ:PDCEGet Rating) last issued its earnings results on Wednesday, May 4th. The energy producer reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.73. PDC Energy had a net margin of 26.48% and a return on equity of 38.99%. The company had revenue of $316.45 million for the quarter, compared to analysts’ expectations of $702.98 million. During the same period in the prior year, the business earned $1.41 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts expect that PDC Energy, Inc. will post 17.52 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were issued a $0.25 dividend. This is a boost from PDC Energy’s previous quarterly dividend of $0.12. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Thursday, March 10th. PDC Energy’s dividend payout ratio (DPR) is currently 19.92%.

Several research firms have commented on PDCE. MKM Partners increased their price objective on shares of PDC Energy from $72.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, March 1st. TheStreet lowered shares of PDC Energy from a “b” rating to a “c+” rating in a research report on Wednesday, May 4th. TD Securities increased their target price on shares of PDC Energy from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, March 2nd. BMO Capital Markets increased their target price on shares of PDC Energy from $65.00 to $73.00 in a research note on Tuesday, March 1st. Finally, Stifel Nicolaus increased their target price on shares of PDC Energy from $82.00 to $87.00 in a research note on Monday, February 28th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $81.78.

Several large investors have recently added to or reduced their stakes in PDCE. Quadrant Capital Group LLC boosted its holdings in shares of PDC Energy by 55.8% in the 4th quarter. Quadrant Capital Group LLC now owns 511 shares of the energy producer’s stock valued at $25,000 after buying an additional 183 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of PDC Energy in the 3rd quarter valued at about $26,000. Prospera Financial Services Inc bought a new stake in shares of PDC Energy in the 1st quarter valued at about $29,000. FinTrust Capital Advisors LLC boosted its holdings in shares of PDC Energy by 68.7% in the 1st quarter. FinTrust Capital Advisors LLC now owns 437 shares of the energy producer’s stock valued at $32,000 after buying an additional 178 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of PDC Energy by 129.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock valued at $32,000 after buying an additional 250 shares in the last quarter.

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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