PDC Energy (NASDAQ:PDCE) Shares Gap Up to $65.12

PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) shares gapped up before the market opened on Monday . The stock had previously closed at $65.12, but opened at $70.50. PDC Energy shares last traded at $70.25, with a volume of 2,248,457 shares traded.

Analyst Ratings Changes

A number of brokerages recently commented on PDCE. The Goldman Sachs Group raised their price target on PDC Energy from $65.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, April 21st. Truist Financial raised their price target on PDC Energy from $70.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Mizuho restated a “buy” rating and issued a $93.00 price target on shares of PDC Energy in a research report on Tuesday, April 11th. StockNews.com began coverage on PDC Energy in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Roth Capital restated a “buy” rating on shares of PDC Energy in a research report on Friday, February 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.50.

PDC Energy Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a 50-day simple moving average of $64.28 and a 200-day simple moving average of $66.45. The stock has a market cap of $6.28 billion, a P/E ratio of 3.06, a PEG ratio of 0.14 and a beta of 2.51.

PDC Energy (NASDAQ:PDCE – Get Rating) last released its earnings results on Wednesday, February 22nd. The energy producer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.17. PDC Energy had a return on equity of 35.66% and a net margin of 49.57%. The firm had revenue of $879.50 million for the quarter, compared to analysts’ expectations of $892.11 million. During the same quarter in the previous year, the business posted $2.86 earnings per share. The business’s revenue for the quarter was down 41.8% on a year-over-year basis. Research analysts forecast that PDC Energy, Inc. will post 13.34 earnings per share for the current year.

Insider Transactions at PDC Energy

In other news, CAO Troy M. Welling sold 1,200 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $63.37, for a total transaction of $76,044.00. Following the sale, the chief accounting officer now directly owns 13,269 shares in the company, valued at $840,856.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Troy M. Welling sold 1,200 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $63.37, for a total transaction of $76,044.00. Following the sale, the chief accounting officer now directly owns 13,269 shares in the company, valued at $840,856.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $68.22, for a total value of $136,440.00. Following the sale, the chief executive officer now owns 548,070 shares in the company, valued at $37,389,335.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,700 shares of company stock worth $1,736,659. Insiders own 1.50% of the company’s stock.

Institutional Trading of PDC Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Natixis acquired a new position in shares of PDC Energy in the fourth quarter worth approximately $25,000. U.S. Capital Wealth Advisors LLC acquired a new position in shares of PDC Energy in the fourth quarter worth approximately $26,000. Belpointe Asset Management LLC acquired a new position in shares of PDC Energy in the fourth quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of PDC Energy by 2,600.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 459 shares of the energy producer’s stock worth $29,000 after acquiring an additional 442 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of PDC Energy by 129.5% in the first 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. 96.16% of the stock is currently owned by institutional investors.

About PDC Energy

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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.