Pamela R. Butcher Purchases 1,000 Shares of PDC Energy, Inc. (NASDAQ:PDCE) Stock

PDC Energy, Inc. (NASDAQ:PDCEGet Rating) Director Pamela R. Butcher acquired 1,000 shares of the stock in a transaction on Wednesday, May 18th. The shares were bought at an average price of $63.91 per share, for a total transaction of $63,910.00. Following the purchase, the director now owns 2,008 shares in the company, valued at $128,331.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of PDCE traded up $2.36 during midday trading on Thursday, hitting $66.72. The company’s stock had a trading volume of 1,292,996 shares, compared to its average volume of 1,407,077. PDC Energy, Inc. has a one year low of $34.52 and a one year high of $79.39. The company’s fifty day simple moving average is $71.47 and its two-hundred day simple moving average is $61.12. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 13.29 and a beta of 2.75.

PDC Energy (NASDAQ:PDCEGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The energy producer reported $3.66 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.73. PDC Energy had a return on equity of 38.99% and a net margin of 26.48%. The company 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 business posted $1.41 EPS. PDC Energy’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts predict that PDC Energy, Inc. will post 17.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were issued a dividend of $0.25 per share. This is an increase from PDC Energy’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.50%. PDC Energy’s dividend payout ratio (DPR) is 19.92%.

PDCE has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on PDC Energy from $82.00 to $87.00 in a research note on Monday, February 28th. BMO Capital Markets raised their price objective on PDC Energy from $65.00 to $73.00 in a research note on Tuesday, March 1st. Truist Financial raised their price objective on PDC Energy from $80.00 to $96.00 in a research note on Thursday, April 21st. TheStreet lowered PDC Energy from a “b” rating to a “c+” rating in a research note on Wednesday, May 4th. Finally, StockNews.com assumed coverage on PDC Energy in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PDC Energy presently has a consensus rating of “Buy” and a consensus target price of $81.78.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in shares of PDC Energy during the 1st quarter valued at $370,000. Advisors Asset Management Inc. boosted its holdings in shares of PDC Energy by 22.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,091 shares of the energy producer’s stock valued at $152,000 after acquiring an additional 383 shares in the last quarter. Portolan Capital Management LLC acquired a new position in PDC Energy during the 1st quarter worth about $3,469,000. Quantamental Technologies LLC acquired a new position in PDC Energy during the 1st quarter worth about $334,000. Finally, Eaton Vance Management lifted its holdings in PDC Energy by 2.9% during the 1st quarter. Eaton Vance Management now owns 8,320 shares of the energy producer’s stock worth $605,000 after buying an additional 237 shares during the period.

PDC Energy Company Profile (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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