United Services Automobile Association Purchases 220 Shares of PDC Energy, Inc. (NASDAQ:PDCE)

United Services Automobile Association raised its position in PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) by 2.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 10,638 shares of the energy producer’s stock after buying an additional 220 shares during the period. United Services Automobile Association’s holdings in PDC Energy were worth $614,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in PDC Energy by 1.2% in the 3rd quarter. State Street Corp now owns 3,790,802 shares of the energy producer’s stock valued at $219,070,000 after buying an additional 46,723 shares during the last quarter. Algert Global LLC bought a new position in shares of PDC Energy in the 3rd quarter worth $3,856,000. Thrivent Financial for Lutherans boosted its position in shares of PDC Energy by 1.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 25,489 shares of the energy producer’s stock worth $1,473,000 after purchasing an additional 453 shares during the last quarter. Van Den Berg Management I Inc. boosted its position in shares of PDC Energy by 11.7% in the 3rd quarter. Van Den Berg Management I Inc. now owns 12,947 shares of the energy producer’s stock worth $748,000 after purchasing an additional 1,360 shares during the last quarter. Finally, Putnam Investments LLC bought a new position in shares of PDC Energy in the 3rd quarter worth $3,030,000. 96.16% of the stock is currently owned by institutional investors.

PDC Energy Stock Up 0.7 %

Shares of PDCE opened at $63.43 on Wednesday. PDC Energy, Inc. has a one year low of $51.72 and a one year high of $89.22. The company has a market cap of $5.61 billion, a P/E ratio of 3.43, a P/E/G ratio of 0.12 and a beta of 2.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a 50 day simple moving average of $65.79 and a two-hundred day simple moving average of $66.97.

PDC Energy (NASDAQ:PDCE – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The energy producer reported $3.22 EPS for the quarter, beating the consensus estimate of $3.05 by $0.17. PDC Energy had a net margin of 46.24% and a return on equity of 42.84%. The business had revenue of $879.50 million during the quarter, compared to the consensus estimate of $892.11 million. During the same period in the previous year, the business earned $2.86 earnings per share. The company’s revenue was down 41.8% on a year-over-year basis. Research analysts forecast that PDC Energy, Inc. will post 14.01 EPS for the current fiscal year.

PDC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Thursday, March 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $1.60 annualized dividend and a yield of 2.52%. PDC Energy’s dividend payout ratio is currently 8.65%.

Insider Buying and Selling at PDC Energy

In other news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $62.49, for a total transaction of $124,980.00. Following the completion of the transaction, the chief executive officer now directly owns 363,556 shares in the company, valued at $22,718,614.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Lynn A. Peterson sold 7,000 shares of the company’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $64.08, for a total transaction of $448,560.00. Following the completion of the transaction, the director now directly owns 254,167 shares in the company, valued at $16,287,021.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $62.49, for a total transaction of $124,980.00. Following the transaction, the chief executive officer now owns 363,556 shares of the company’s stock, valued at $22,718,614.44. The disclosure for this sale can be found here. Insiders sold a total of 20,500 shares of company stock worth $1,344,555 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

PDCE has been the topic of several recent research reports. Roth Capital restated a “buy” rating on shares of PDC Energy in a research report on Friday, February 17th. Mizuho dropped their price objective on PDC Energy from $97.00 to $93.00 in a research note on Friday, March 10th. StockNews.com downgraded PDC Energy from a “buy” rating to a “hold” rating in a research note on Saturday, March 4th. Finally, Truist Financial downgraded PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 price objective on the stock. in a research note on Monday, December 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, PDC Energy has an average rating of “Moderate Buy” and an average price target of $83.33.

PDC Energy Company Profile

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PDC Energy, Inc engages in the exploration and production of oil and natural gas. The firm acquires, explores, and develops properties for the production of crude oil, natural gas, and natural gas liquids. Its primary operations are located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.