PDC Energy Inc. (NASDAQ:PDCE) Director Kimberly Luff Wakim sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $69.10, for a total transaction of $138,200.00. Following the completion of the sale, the director now owns 9,182 shares of the company’s stock, valued at $634,476.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
PDC Energy Inc. (NASDAQ:PDCE) opened at 70.25 on Friday. PDC Energy Inc. has a 1-year low of $42.67 and a 1-year high of $71.00. The firm has a 50-day moving average of $64.29 and a 200-day moving average of $60.90. The stock’s market cap is $3.92 billion.
PDC Energy (NASDAQ:PDCE) last posted its earnings results on Thursday, November 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.11. The company had revenue of $164 million for the quarter, compared to the consensus estimate of $178.12 million. PDC Energy had a negative net margin of 42.23% and a negative return on equity of 2.31%. PDC Energy’s revenue was down 29.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.89) EPS. Analysts expect that PDC Energy Inc. will post ($0.43) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of PDC Energy during the second quarter valued at $112,887,000. Causeway Capital Management LLC acquired a new position in shares of PDC Energy during the second quarter valued at $110,908,000. Van ECK Associates Corp boosted its position in shares of PDC Energy by 199.4% in the second quarter. Van ECK Associates Corp now owns 2,031,800 shares of the company’s stock valued at $117,052,000 after buying an additional 1,353,100 shares during the period. BlackRock Fund Advisors boosted its position in shares of PDC Energy by 31.2% in the third quarter. BlackRock Fund Advisors now owns 3,954,304 shares of the company’s stock valued at $265,176,000 after buying an additional 940,134 shares during the period. Finally, OZ Management LP acquired a new position in shares of PDC Energy during the third quarter valued at $26,824,000. Hedge funds and other institutional investors own 96.84% of the company’s stock.
PDCE has been the subject of a number of research reports. KeyCorp raised their price target on shares of PDC Energy to $76.00 in a report on Wednesday, August 24th. Wunderlich lifted their price objective on shares of PDC Energy from $76.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Credit Suisse Group AG reiterated a “buy” rating and set a $83.00 price objective on shares of PDC Energy in a report on Thursday, August 25th. Bank of America Corp. reiterated a “buy” rating and set a $76.00 price objective on shares of PDC Energy in a report on Wednesday, August 24th. Finally, Williams Capital began coverage on shares of PDC Energy in a report on Monday, August 29th. They set a “buy” rating and a $84.00 price objective for the company. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. PDC Energy has an average rating of “Buy” and an average target price of $72.79.
About PDC Energy