Amalgamated Bank Acquires 16,851 Shares of PDC Energy, Inc. (NASDAQ:PDCE)

Amalgamated Bank grew its holdings in PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 37.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 62,193 shares of the energy producer’s stock after buying an additional 16,851 shares during the quarter. Amalgamated Bank’s holdings in PDC Energy were worth $4,520,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PDCE. Prospera Financial Services Inc bought a new stake in shares of PDC Energy in the first quarter valued at approximately $29,000. FinTrust Capital Advisors LLC increased its holdings in PDC Energy by 68.7% during the 1st 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. increased its holdings in PDC Energy by 129.5% during the 1st 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. Oliver Lagore Vanvalin Investment Group bought a new stake in PDC Energy during the 1st quarter worth approximately $36,000. Finally, Rockefeller Capital Management L.P. increased its holdings in PDC Energy by 169.1% during the 4th 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. Institutional investors own 96.91% of the company’s stock.

Wall Street Analyst Weigh In

PDCE has been the topic of a number of analyst reports. MKM Partners reaffirmed a “buy” rating and set a $76.00 target price on shares of PDC Energy in a report on Wednesday, July 20th. KeyCorp initiated coverage on shares of PDC Energy in a report on Monday. They set a “sector weight” rating on the stock. Truist Financial decreased their target price on shares of PDC Energy from $105.00 to $97.00 and set a “buy” rating on the stock in a report on Monday, August 15th. The Goldman Sachs Group decreased their target price on shares of PDC Energy from $87.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, July 5th. Finally, TheStreet raised shares of PDC Energy from a “c+” rating to a “b” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.75.

PDC Energy Price Performance

PDCE stock opened at $62.79 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.42 and a quick ratio of 0.42. PDC Energy, Inc. has a one year low of $41.27 and a one year high of $89.22. The stock has a market cap of $6.05 billion, a PE ratio of 4.97 and a beta of 2.57. The firm has a 50 day simple moving average of $62.82 and a two-hundred day simple moving average of $67.99.

PDC Energy (NASDAQ:PDCEGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The energy producer reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.57 by $0.54. PDC Energy had a net margin of 44.67% and a return on equity of 47.13%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. On average, analysts predict that PDC Energy, Inc. will post 16.52 EPS for the current fiscal year.

PDC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.23%. PDC Energy’s dividend payout ratio (DPR) is 11.08%.

Insider Activity

In other news, CFO R Scott Meyers sold 1,000 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $61.87, for a total value of $61,870.00. Following the completion of the sale, the chief financial officer now owns 116,128 shares of the company’s stock, valued at approximately $7,184,839.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PDC Energy news, CFO R Scott Meyers sold 1,000 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $61.87, for a total transaction of $61,870.00. Following the completion of the sale, the chief financial officer now owns 116,128 shares of the company’s stock, valued at approximately $7,184,839.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn A. Peterson sold 7,000 shares of the stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $62.00, for a total transaction of $434,000.00. Following the sale, the director now directly owns 289,167 shares of the company’s stock, valued at approximately $17,928,354. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,000 shares of company stock valued at $1,706,410. Corporate insiders own 1.20% of the company’s stock.

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

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