Gradient Investments LLC Buys 680 Shares of PDC Energy, Inc. (NASDAQ:PDCE)

Gradient Investments LLC grew its stake in PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 27.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,158 shares of the energy producer’s stock after purchasing an additional 680 shares during the quarter. Gradient Investments LLC’s holdings in PDC Energy were worth $230,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PDCE. Prospera Financial Services Inc bought a new stake in PDC Energy during the first quarter worth $29,000. FinTrust Capital Advisors LLC lifted its holdings in PDC Energy by 68.7% during the first quarter. FinTrust Capital Advisors LLC now owns 437 shares of the energy producer’s stock worth $32,000 after acquiring an additional 178 shares during the period. Geneos Wealth Management Inc. lifted its holdings in PDC Energy by 129.5% during the first quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock worth $32,000 after acquiring an additional 250 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in PDC Energy by 169.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 810 shares of the energy producer’s stock worth $39,000 after acquiring an additional 509 shares during the period. Finally, Covestor Ltd lifted its holdings in PDC Energy by 350.7% during the first quarter. Covestor Ltd now owns 631 shares of the energy producer’s stock worth $46,000 after acquiring an additional 491 shares during the period. Institutional investors own 96.91% of the company’s stock.

PDC Energy Price Performance

Shares of NASDAQ PDCE opened at $64.49 on Friday. The stock has a market cap of $6.21 billion, a PE ratio of 5.10 and a beta of 2.57. PDC Energy, Inc. has a fifty-two week low of $41.27 and a fifty-two week high of $89.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a fifty day moving average of $62.46 and a 200-day moving average of $68.10.

PDC Energy (NASDAQ:PDCEGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The energy producer reported $5.11 earnings per share for the quarter, beating the consensus estimate 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 47.13% and a net margin of 44.67%. Equities research analysts anticipate that PDC Energy, Inc. will post 16.74 earnings per share for the current year.

PDC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, September 7th. PDC Energy’s dividend payout ratio (DPR) is presently 11.08%.

Insider Activity

In related news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $61.85, for a total transaction of $123,700.00. Following the completion of the transaction, the chief executive officer now directly owns 388,201 shares in the company, valued at $24,010,231.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $61.85, for a total transaction of $123,700.00. Following the completion of the transaction, the chief executive officer now directly owns 388,201 shares in the company, valued at $24,010,231.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO R Scott Meyers sold 1,000 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $61.87, for a total value of $61,870.00. Following the transaction, the chief financial officer now owns 116,128 shares of the company’s stock, valued at $7,184,839.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,000 shares of company stock worth $1,245,390. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PDCE. Wells Fargo & Company lifted their price target on PDC Energy from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 11th. TheStreet raised PDC Energy from a “c+” rating to a “b” rating in a research report on Wednesday, August 3rd. MKM Partners reissued a “buy” rating and issued a $76.00 target price on shares of PDC Energy in a research report on Wednesday, July 20th. Truist Financial decreased their target price on PDC Energy from $105.00 to $97.00 and set a “buy” rating for the company in a research report on Monday, August 15th. Finally, The Goldman Sachs Group decreased their target price on PDC Energy from $87.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, July 5th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $86.75.

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.

See Also

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

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