PDC Energy, Inc. (NASDAQ:PDCE) CFO Sells $64,540.00 in Stock

PDC Energy, Inc. (NASDAQ:PDCEGet Rating) CFO R Scott Meyers sold 1,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $64.54, for a total transaction of $64,540.00. Following the completion of the transaction, the chief financial officer now owns 115,128 shares in the company, valued at $7,430,361.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

  • On Friday, July 1st, R Scott Meyers sold 1,000 shares of PDC Energy stock. The shares were sold at an average price of $61.87, for a total transaction of $61,870.00.
  • On Wednesday, June 1st, R Scott Meyers sold 1,000 shares of PDC Energy stock. The shares were sold at an average price of $80.51, for a total transaction of $80,510.00.

PDC Energy Trading Up 0.3 %

Shares of PDCE stock opened at $55.11 on Friday. PDC Energy, Inc. has a 12-month low of $34.52 and a 12-month high of $89.22. The company has a market capitalization of $5.26 billion, a P/E ratio of 4.36 and a beta of 2.63. The firm has a 50-day moving average price of $66.45 and a 200 day moving average price of $66.82. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.34.

PDC Energy (NASDAQ:PDCEGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The energy producer reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.54. PDC Energy had a net margin of 44.67% and a return on equity of 50.27%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. Research analysts forecast that PDC Energy, Inc. will post 16.97 earnings per share for the current fiscal year.

PDC Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 23rd. Investors of record on Thursday, June 9th were issued a dividend of $0.35 per share. This is an increase from PDC Energy’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 2.54%. The ex-dividend date was Wednesday, June 8th. PDC Energy’s dividend payout ratio (DPR) is currently 11.08%.

Hedge Funds Weigh In On PDC Energy

Institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in shares of PDC Energy by 55.8% in the fourth quarter. Quadrant Capital Group LLC now owns 511 shares of the energy producer’s stock worth $25,000 after acquiring an additional 183 shares during the last quarter. Prospera Financial Services Inc bought a new position in shares of PDC Energy in the first quarter worth about $29,000. FinTrust Capital Advisors LLC raised its stake in shares of PDC Energy by 68.7% in the first quarter. FinTrust Capital Advisors LLC now owns 437 shares of the energy producer’s stock worth $32,000 after acquiring an additional 178 shares during the last quarter. Geneos Wealth Management Inc. raised 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 last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of PDC Energy in the first quarter worth about $36,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PDCE shares. MKM Partners restated a “buy” rating and issued a $76.00 price target on shares of PDC Energy in a research report on Wednesday, July 20th. Truist Financial raised their price target on shares of PDC Energy from $94.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, July 19th. TheStreet upgraded shares of PDC Energy from a “c+” rating to a “b” rating in a research report on Wednesday. The Goldman Sachs Group reduced their price objective on shares of PDC Energy from $87.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, July 5th. Finally, Wells Fargo & Company raised their price objective on shares of PDC Energy from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 11th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $87.75.

PDC Energy Company Profile

(Get Rating)

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.

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