PDC Energy Inc. (PDCE) Director Sells $138,200.00 in Stock
PDC Energy Inc. (NASDAQ:PDCE) Director Kimberly Luff Wakim sold 2,000 shares of PDC Energy stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $69.10, for a total transaction of $138,200.00. Following the sale, the director now directly owns 9,182 shares of the company’s stock, valued at approximately $634,476.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of PDC Energy Inc. (NASDAQ:PDCE) traded up 1.21% on Wednesday, hitting $70.25. 604,035 shares of the company’s stock were exchanged. The stock’s market cap is $3.92 billion. The company’s 50-day moving average price is $64.29 and its 200 day moving average price is $60.90. PDC Energy Inc. has a 12-month low of $42.67 and a 12-month high of $71.00.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.11. PDC Energy had a negative net margin of 42.23% and a negative return on equity of 2.31%. The firm earned $164 million during the quarter, compared to analyst estimates of $178.12 million. During the same quarter in the previous year, the business posted ($1.89) earnings per share. PDC Energy’s revenue for the quarter was down 29.0% compared to the same quarter last year. On average, equities analysts predict that PDC Energy Inc. will post ($0.43) earnings per share for the current fiscal year.
PDCE has been the topic of several research reports. Seaport Global Securities raised shares of PDC Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $61.00 to $87.00 in a report on Tuesday, August 30th. Williams Capital initiated coverage on shares of PDC Energy in a report on Monday, August 29th. They set a “buy” rating and a $84.00 price objective on the stock. Canaccord Genuity set a $80.00 price objective on shares of PDC Energy and gave the company a “buy” rating in a report on Monday, August 29th. Mizuho initiated coverage on shares of PDC Energy in a report on Wednesday, October 5th. They set a “neutral” rating and a $69.00 price objective on the stock. Finally, 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. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $72.79.
Several large investors have recently made changes to their positions in PDCE. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PDC Energy by 12.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,537 shares of the company’s stock worth $103,000 after buying an additional 174 shares during the period. LS Investment Advisors LLC increased its position in PDC Energy by 2.2% in the third quarter. LS Investment Advisors LLC now owns 1,698 shares of the company’s stock worth $114,000 after buying an additional 37 shares during the period. First Mercantile Trust Co. increased its position in PDC Energy by 61.7% in the third quarter. First Mercantile Trust Co. now owns 1,730 shares of the company’s stock worth $116,000 after buying an additional 660 shares during the period. Howe & Rusling Inc. increased its position in PDC Energy by 10.4% in the second quarter. Howe & Rusling Inc. now owns 1,749 shares of the company’s stock worth $101,000 after buying an additional 165 shares during the period. Finally, Integrated Investment Consultants LLC increased its position in PDC Energy by 27.8% in the third quarter. Integrated Investment Consultants LLC now owns 1,984 shares of the company’s stock worth $128,000 after buying an additional 431 shares during the period. Institutional investors and hedge funds own 96.84% of the company’s stock.
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About PDC Energy
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
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