New York State Common Retirement Fund Sells 794,065 Shares of PDC Energy, Inc. (NASDAQ:PDCE)

New York State Common Retirement Fund cut its position in shares of PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 79.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,142 shares of the energy producer’s stock after selling 794,065 shares during the quarter. New York State Common Retirement Fund owned approximately 0.21% of PDC Energy worth $14,692,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of 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 valued at $89,301,000 after purchasing an additional 858,561 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PDC Energy by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,795,517 shares of the energy producer’s stock valued at $87,585,000 after purchasing an additional 50,504 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of 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 valued at $81,797,000 after purchasing an additional 405,088 shares during the last quarter. Marshall Wace LLP bought a new position in shares of PDC Energy during the 4th quarter valued at about $74,067,000. Finally, Frontier Capital Management Co. LLC increased its position in shares of 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 valued at $104,848,000 after purchasing an additional 461,103 shares during the last quarter.

Insider Activity

In other news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $81.84, for a total value of $163,680.00. Following the completion of the transaction, the chief executive officer now owns 390,201 shares in the company, valued at approximately $31,934,049.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO R Scott Meyers sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $64.54, for a total transaction of $64,540.00. Following the completion of the transaction, the chief financial officer now owns 115,128 shares of the company’s stock, valued at approximately $7,430,361.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $81.84, for a total value of $163,680.00. Following the transaction, the chief executive officer now directly owns 390,201 shares of the company’s stock, valued at approximately $31,934,049.84. The disclosure for this sale can be found here. Insiders sold a total of 62,038 shares of company stock worth $4,357,536 in the last quarter. 1.20% of the stock is owned by company insiders.

PDC Energy Trading Up 0.3 %

NASDAQ PDCE opened at $55.11 on Friday. PDC Energy, Inc. has a fifty-two week low of $34.52 and a fifty-two week high of $89.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a 50 day simple moving average of $66.45 and a two-hundred day simple moving average of $66.82. The stock has a market cap of $5.26 billion, a P/E ratio of 4.36 and a beta of 2.63.

PDC Energy (NASDAQ:PDCEGet Rating) last released its earnings results on Wednesday, August 3rd. The energy producer reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.57 by $0.54. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. PDC Energy had a return on equity of 50.27% and a net margin of 44.67%. On average, analysts forecast that PDC Energy, Inc. will post 16.97 earnings per share for the current year.

PDC Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Stockholders of record on Thursday, June 9th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Wednesday, June 8th. This is a boost from PDC Energy’s previous quarterly dividend of $0.25. PDC Energy’s dividend payout ratio (DPR) is presently 11.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PDCE shares. Wells Fargo & Company increased their price objective on PDC Energy from $102.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, July 11th. KeyCorp increased their target price on PDC Energy from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, April 8th. TheStreet upgraded PDC Energy from a “c+” rating to a “b” rating in a report on Wednesday. The Goldman Sachs Group dropped their target price on PDC Energy from $87.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, July 5th. Finally, Truist Financial increased their target price on PDC Energy from $94.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, July 19th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $87.75.

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.

Further Reading

Institutional Ownership by Quarter for PDC Energy (NASDAQ:PDCE)

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.