PDC Energy, Inc. (NASDAQ:PDCE) Stake Cut by US Bancorp DE

US Bancorp DE cut its position in shares of PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,738 shares of the energy producer’s stock after selling 297 shares during the quarter. US Bancorp DE’s holdings in PDC Energy were worth $678,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PDCE. Geneos Wealth Management Inc. lifted its stake 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 purchasing an additional 250 shares during the last quarter. Covestor Ltd lifted its stake in PDC Energy by 350.7% in the first quarter. Covestor Ltd now owns 631 shares of the energy producer’s stock valued at $46,000 after buying an additional 491 shares during the last quarter. Fifth Third Bancorp lifted its stake in PDC Energy by 23.6% in the third quarter. Fifth Third Bancorp now owns 853 shares of the energy producer’s stock valued at $49,000 after buying an additional 163 shares during the last quarter. Parallel Advisors LLC lifted its stake in PDC Energy by 88.2% in the second quarter. Parallel Advisors LLC now owns 813 shares of the energy producer’s stock valued at $50,000 after buying an additional 381 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new stake in PDC Energy in the second quarter valued at $60,000. 96.16% of the stock is currently owned by institutional investors.

PDC Energy Price Performance

Shares of PDCE opened at $67.63 on Friday. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 3.47 and a beta of 2.51. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.48 and a current ratio of 0.48. PDC Energy, Inc. has a one year low of $51.18 and a one year high of $89.22. The stock’s fifty day moving average is $67.44 and its 200-day moving average is $65.44.

PDC Energy (NASDAQ:PDCEGet Rating) last released its earnings results on Wednesday, November 2nd. The energy producer reported $3.77 earnings per share (EPS) 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 analyst estimates of $1.06 billion. PDC Energy had a return on equity of 45.90% and a net margin of 49.76%. Equities analysts anticipate that PDC Energy, Inc. will post 15.82 EPS for the current year.

PDC Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 28th. Investors of record on Monday, December 19th were issued a dividend of $1.00 per share. This is a positive change from PDC Energy’s previous quarterly dividend of $0.35. This represents a $4.00 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date was Friday, December 16th. PDC Energy’s payout ratio is presently 7.18%.

Insider Buying and Selling

In related news, SVP Nicole L. Martinet sold 7,000 shares of PDC Energy stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $82.00, for a total transaction of $574,000.00. Following the transaction, the senior vice president now directly owns 44,066 shares of the company’s stock, valued at $3,613,412. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Nicole L. Martinet sold 7,000 shares of PDC Energy stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $82.00, for a total transaction of $574,000.00. Following the transaction, the senior vice president now directly owns 44,066 shares of the company’s stock, valued at $3,613,412. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO R Scott Meyers sold 2,500 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $67.45, for a total value of $168,625.00. Following the completion of the transaction, the chief financial officer now owns 166,690 shares of the company’s stock, valued at approximately $11,243,240.50. The disclosure for this sale can be found here. Insiders have sold a total of 66,339 shares of company stock valued at $4,978,981 over the last three months. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PDCE shares. Truist Financial cut PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 target price on the stock. in a research note on Monday, December 12th. The Goldman Sachs Group cut PDC Energy from a “buy” rating to a “neutral” rating and set a $74.00 target price on the stock. in a research note on Tuesday, October 18th. Mizuho initiated coverage on PDC Energy in a research note on Monday, January 9th. They issued a “buy” rating and a $97.00 target price on the stock. Finally, StockNews.com lowered PDC Energy from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.33.

PDC Energy Profile

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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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