Guggenheim Capital LLC Sells 8,382 Shares of PDC Energy, Inc. (NASDAQ:PDCE)

Guggenheim Capital LLC lowered its stake in PDC Energy, Inc. (NASDAQ:PDCE) by 20.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,093 shares of the energy producer’s stock after selling 8,382 shares during the period. Guggenheim Capital LLC’s holdings in PDC Energy were worth $2,060,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC bought a new position in shares of PDC Energy in the fourth quarter worth $26,000. Brandywine Global Investment Management LLC boosted its stake in PDC Energy by 23.4% in the fourth quarter. Brandywine Global Investment Management LLC now owns 60,224 shares of the energy producer’s stock valued at $3,823,000 after buying an additional 11,413 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PDC Energy by 4.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,371 shares of the energy producer’s stock valued at $987,000 after buying an additional 711 shares in the last quarter. Highland Capital Management LLC acquired a new stake in PDC Energy in the fourth quarter valued at about $799,000. Finally, Amalgamated Bank boosted its stake in PDC Energy by 16.9% in the fourth quarter. Amalgamated Bank now owns 82,902 shares of the energy producer’s stock valued at $5,263,000 after buying an additional 11,987 shares in the last quarter. Institutional investors own 95.18% of the company’s stock.

Analyst Ratings Changes

PDCE has been the topic of several research analyst reports. Truist Financial reduced their price objective on PDC Energy from $77.00 to $74.00 in a research note on Monday, July 24th. Seaport Res Ptn lowered PDC Energy from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 18th. StockNews.com initiated coverage on PDC Energy in a research note on Monday. They set a “hold” rating on the stock. Finally, Mizuho lowered PDC Energy from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 24th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $80.75.

PDC Energy Stock Performance

Shares of PDCE stock opened at $73.85 on Thursday. PDC Energy, Inc. has a 12 month low of $51.85 and a 12 month high of $82.24. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 3.69, a PEG ratio of 0.16 and a beta of 2.47. The business’s 50-day moving average price is $72.82 and its 200-day moving average price is $68.55.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Tuesday, August 1st. The energy producer reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.95 by ($0.30). PDC Energy had a return on equity of 28.47% and a net margin of 43.85%. The company had revenue of $871.81 million for the quarter, compared to the consensus estimate of $801.61 million. Equities research analysts forecast that PDC Energy, Inc. will post 12.27 EPS for the current year.

Insider Transactions at PDC Energy

In other PDC Energy news, CFO R Scott Meyers sold 2,500 shares of PDC Energy stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $70.87, for a total value of $177,175.00. Following the completion of the sale, the chief financial officer now directly owns 154,910 shares in the company, valued at $10,978,471.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

About PDC Energy

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.