PDC Energy, Inc. (NASDAQ:PDCE) CFO Sells $150,000.00 in Stock

Posted by Defense World Staff on Mar 19th, 2023

PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) CFO R Scott Meyers sold 2,500 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the sale, the chief financial officer now directly owns 164,910 shares in the company, valued at approximately $9,894,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

R Scott Meyers also recently made the following trade(s):

On Tuesday, January 17th, R Scott Meyers sold 2,500 shares of PDC Energy stock. The shares were sold at an average price of $67.45, for a total transaction of $168,625.00.

PDC Energy Trading Down 3.6 %

Shares of PDCE opened at $57.94 on Friday. PDC Energy, Inc. has a twelve month low of $51.72 and a twelve month high of $89.22. The company has a market cap of $5.12 billion, a P/E ratio of 3.13, a P/E/G ratio of 0.11 and a beta of 2.54. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $65.73 and its 200-day simple moving average is $66.79.

PDC Energy (NASDAQ:PDCE – Get Rating) last announced its earnings results on Wednesday, February 22nd. The energy producer reported $3.22 earnings per share 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 for the quarter, compared to the consensus estimate of $892.11 million. During the same quarter in the prior year, the firm posted $2.86 earnings per share. The business’s revenue for the quarter was down 41.8% on a year-over-year basis. As a group, analysts expect that PDC Energy, Inc. will post 14.01 EPS for the current year.

PDC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Thursday, March 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Wednesday, March 1st. PDC Energy’s dividend payout ratio is presently 8.65%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of PDC Energy in a research note on Thursday. They set a “hold” rating on the stock. Truist Financial downgraded shares of PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a research note on Monday, December 12th. Mizuho decreased their price target on shares of PDC Energy from $97.00 to $93.00 in a research note on Friday, March 10th. Finally, Roth Capital reaffirmed a “buy” rating on shares of PDC Energy in a research note on Friday, February 17th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC increased its stake in PDC Energy by 16.5% in the 2nd quarter. Quantamental Technologies LLC now owns 5,357 shares of the energy producer’s stock worth $330,000 after buying an additional 759 shares during the period. Illinois Municipal Retirement Fund increased its stake in PDC Energy by 61.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 11,503 shares of the energy producer’s stock worth $665,000 after buying an additional 4,388 shares during the period. FMR LLC increased its stake in PDC Energy by 14.9% in the 2nd quarter. FMR LLC now owns 5,805,913 shares of the energy producer’s stock worth $357,703,000 after buying an additional 753,500 shares during the period. Itau Unibanco Holding S.A. purchased a new position in PDC Energy in the 3rd quarter worth about $84,000. Finally, Nations Financial Group Inc. IA ADV increased its stake in PDC Energy by 44.5% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 8,329 shares of the energy producer’s stock worth $481,000 after buying an additional 2,566 shares during the period. Hedge funds and other institutional investors own 96.16% of the company’s stock.

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.