Rhumbline Advisers Sells 372 Shares of PDC Energy, Inc. (NASDAQ:PDCE)

Rhumbline Advisers lowered its holdings in PDC Energy, Inc. (NASDAQ:PDCE) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,956 shares of the energy producer’s stock after selling 372 shares during the quarter. Rhumbline Advisers owned 0.31% of PDC Energy worth $17,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PDCE. Natixis bought a new stake in PDC Energy during the fourth quarter worth about $25,000. U.S. Capital Wealth Advisors LLC bought a new stake in PDC Energy during the fourth quarter worth about $26,000. Belpointe Asset Management LLC bought a new stake in PDC Energy during the fourth quarter worth about $27,000. Northwestern Mutual Wealth Management Co. grew its stake in PDC Energy by 2,600.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 459 shares of the energy producer’s stock worth $29,000 after buying an additional 442 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew 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 buying an additional 250 shares during the last quarter. Institutional investors own 95.18% of the company’s stock.

Insider Buying and Selling at PDC Energy

In other PDC Energy news, CFO R Scott Meyers sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $70.94, for a total value of $177,350.00. Following the completion of the sale, the chief financial officer now owns 157,410 shares of the company’s stock, valued at $11,166,665.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

PDC Energy Stock Performance

Shares of NASDAQ PDCE opened at $73.85 on Thursday. The company’s 50 day simple moving average is $72.82 and its 200 day simple moving average is $68.55. PDC Energy, Inc. has a fifty-two week low of $51.85 and a fifty-two week high of $82.24. The firm has a market capitalization of $6.43 billion, a P/E ratio of 3.69, a P/E/G ratio of 0.16 and a beta of 2.47. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.49 and a quick ratio of 0.49.

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

Wall Street Analyst Weigh In

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

PDC Energy Profile

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.