PDC Energy Inc (PDCE) COO Sells $67,626.63 in Stock

PDC Energy Inc (NASDAQ:PDCE) COO Scott J. Reasoner sold 1,341 shares of the company’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $50.43, for a total transaction of $67,626.63. Following the completion of the sale, the chief operating officer now owns 73,379 shares in the company, valued at approximately $3,700,502.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NASDAQ PDCE opened at $49.11 on Friday. The company has a market capitalization of $3.38 billion, a PE ratio of 55.00, a PEG ratio of 0.61 and a beta of 0.61. PDC Energy Inc has a 52-week low of $41.13 and a 52-week high of $66.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.36.

PDC Energy (NASDAQ:PDCE) last issued its earnings results on Wednesday, August 8th. The energy producer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.04). The firm had revenue of $212.53 million during the quarter, compared to the consensus estimate of $308.73 million. PDC Energy had a positive return on equity of 2.52% and a negative net margin of 43.37%. The company’s quarterly revenue was down 22.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. On average, research analysts anticipate that PDC Energy Inc will post 2.19 earnings per share for the current year.

A number of brokerages have weighed in on PDCE. ValuEngine upgraded shares of PDC Energy from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. BidaskClub upgraded shares of PDC Energy from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Zacks Investment Research upgraded shares of PDC Energy from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Wednesday, August 1st. TD Securities began coverage on shares of PDC Energy in a report on Thursday, July 5th. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Williams Capital set a $82.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a report on Thursday, August 9th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.16.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas lifted its stake in shares of PDC Energy by 7.8% in the second quarter. Teacher Retirement System of Texas now owns 13,386 shares of the energy producer’s stock worth $809,000 after buying an additional 974 shares in the last quarter. MetLife Investment Advisors LLC lifted its stake in shares of PDC Energy by 3.6% in the second quarter. MetLife Investment Advisors LLC now owns 30,317 shares of the energy producer’s stock worth $1,833,000 after buying an additional 1,045 shares in the last quarter. Russell Investments Group Ltd. lifted its position in PDC Energy by 29.7% during the second quarter. Russell Investments Group Ltd. now owns 5,092 shares of the energy producer’s stock valued at $309,000 after purchasing an additional 1,166 shares during the period. Nisa Investment Advisors LLC lifted its position in PDC Energy by 13.9% during the third quarter. Nisa Investment Advisors LLC now owns 9,760 shares of the energy producer’s stock valued at $478,000 after purchasing an additional 1,190 shares during the period. Finally, US Bancorp DE lifted its position in PDC Energy by 30.4% during the second quarter. US Bancorp DE now owns 5,218 shares of the energy producer’s stock valued at $315,000 after purchasing an additional 1,215 shares during the period.

About PDC Energy

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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