Empowered Funds LLC Invests $932,000 in PDC Energy, Inc. (NASDAQ:PDCE)

Empowered Funds LLC acquired a new position in shares of PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,125 shares of the energy producer’s stock, valued at approximately $932,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in shares of PDC Energy by 129.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock worth $32,000 after purchasing an additional 250 shares in the last quarter. Covestor Ltd increased its holdings in shares of PDC Energy by 350.7% during the 1st quarter. Covestor Ltd now owns 631 shares of the energy producer’s stock worth $46,000 after acquiring an additional 491 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of PDC Energy by 23.6% during the 3rd quarter. Fifth Third Bancorp now owns 853 shares of the energy producer’s stock worth $49,000 after acquiring an additional 163 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of PDC Energy by 88.2% during the 2nd quarter. Parallel Advisors LLC now owns 813 shares of the energy producer’s stock worth $50,000 after acquiring an additional 381 shares during the last quarter. Finally, CoreCap Advisors LLC acquired a new position in shares of PDC Energy during the 2nd quarter worth approximately $60,000. Institutional investors own 96.16% of the company’s stock.

PDC Energy Stock Performance

Shares of NASDAQ PDCE opened at $68.67 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.48 and a quick ratio of 0.48. The stock’s fifty day moving average price is $67.00 and its two-hundred day moving average price is $65.71. PDC Energy, Inc. has a one year low of $51.72 and a one year high of $89.22. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 3.52 and a beta of 2.51.

PDC Energy (NASDAQ:PDCE – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The energy producer reported $3.77 EPS for the quarter, missing analysts’ consensus estimates of $4.13 by ($0.36). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.06 billion. PDC Energy had a net margin of 49.76% and a return on equity of 45.90%. On average, equities analysts forecast that PDC Energy, Inc. will post 15.63 EPS for the current year.

PDC Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 28th. Stockholders of record on Monday, December 19th were issued a dividend of $1.00 per share. This is a positive change from PDC Energy’s previous quarterly dividend of $0.35. This represents a $4.00 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend was Friday, December 16th. PDC Energy’s dividend payout ratio is 7.18%.

Insider Transactions at PDC Energy

In other news, Director Lynn A. Peterson sold 7,000 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $66.89, for a total transaction of $468,230.00. Following the sale, the director now directly owns 247,167 shares of the company’s stock, valued at approximately $16,533,000.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Lynn A. Peterson sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $66.89, for a total transaction of $468,230.00. Following the completion of the sale, the director now directly owns 247,167 shares in the company, valued at approximately $16,533,000.63. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $73.28, for a total value of $146,560.00. Following the sale, the chief executive officer now owns 380,201 shares of the company’s stock, valued at $27,861,129.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,339 shares of company stock valued at $4,978,981. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on PDCE. Truist Financial lowered PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 target price on the stock. in a report on Monday, December 12th. StockNews.com lowered PDC Energy from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Mizuho began coverage on PDC Energy in a report on Monday, January 9th. They set a “buy” rating and a $97.00 target price on the stock. Finally, The Goldman Sachs Group lowered PDC Energy from a “buy” rating to a “neutral” rating and set a $74.00 target price on the stock. in a report on Tuesday, October 18th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.33.

PDC Energy 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.