Keybank National Association OH Sells 495 Shares of PDC Energy, Inc. (NASDAQ:PDCE)

Keybank National Association OH reduced its position in shares of PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,028 shares of the energy producer’s stock after selling 495 shares during the quarter. Keybank National Association OH’s holdings in PDC Energy were worth $1,273,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in shares of PDC Energy by 129.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 250 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in shares of PDC Energy during the 1st quarter valued at approximately $36,000. Covestor Ltd grew its stake in shares of PDC Energy by 350.7% during the 1st quarter. Covestor Ltd now owns 631 shares of the energy producer’s stock valued at $46,000 after acquiring an additional 491 shares during the period. Fifth Third Bancorp grew its stake in shares of PDC Energy by 23.6% during the 3rd quarter. Fifth Third Bancorp now owns 853 shares of the energy producer’s stock valued at $49,000 after acquiring an additional 163 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of PDC Energy by 88.2% during the 2nd quarter. Parallel Advisors LLC now owns 813 shares of the energy producer’s stock valued at $50,000 after acquiring an additional 381 shares during the period. 96.16% of the stock is currently owned by institutional investors.

PDC Energy Price Performance

NASDAQ:PDCE opened at $61.11 on Monday. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 3.14 and a beta of 2.51. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.48 and a quick ratio of 0.48. The business has a 50 day simple moving average of $69.59 and a 200-day simple moving average of $65.24. PDC Energy, Inc. has a 1 year low of $51.00 and a 1 year high of $89.22.

PDC Energy (NASDAQ:PDCEGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The energy producer reported $3.77 earnings per share for the quarter, missing analysts’ consensus estimates of $4.13 by ($0.36). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.06 billion. PDC Energy had a net margin of 49.76% and a return on equity of 45.90%. Equities analysts forecast that PDC Energy, Inc. will post 15.83 EPS for the current year.

PDC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 28th. Shareholders of record on Monday, December 19th were paid a $1.00 dividend. The ex-dividend date was Friday, December 16th. This represents a $4.00 annualized dividend and a yield of 6.55%. This is an increase from PDC Energy’s previous quarterly dividend of $0.35. PDC Energy’s dividend payout ratio (DPR) is presently 7.18%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PDCE shares. StockNews.com downgraded PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Truist Financial cut PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a report on Monday, December 12th. KeyCorp initiated coverage on PDC Energy in a report on Monday, September 19th. They issued a “sector weight” rating on the stock. Finally, The Goldman Sachs Group cut PDC Energy from a “buy” rating to a “neutral” rating and set a $74.00 price target on the stock. in a report on Tuesday, October 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $82.75.

Insider Transactions at PDC Energy

In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $73.28, for a total value of $146,560.00. Following the transaction, the chief executive officer now owns 380,201 shares of the company’s stock, valued at approximately $27,861,129.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $73.28, for a total value of $146,560.00. Following the completion of the sale, the chief executive officer now directly owns 380,201 shares of the company’s stock, valued at approximately $27,861,129.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO R Scott Meyers sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $73.81, for a total transaction of $73,810.00. Following the completion of the transaction, the chief financial officer now owns 112,128 shares in the company, valued at $8,276,167.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,839 shares of company stock worth $4,814,486. 1.20% of the stock is currently owned by company insiders.

PDC Energy 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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