PDC Energy, Inc. (NASDAQ:PDCE) CFO Sells $150,000.00 in Stock

Posted by Wayne Rhoads on Mar 19th, 2023

PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) CFO R Scott Meyers sold 2,500 shares of the stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. Following the transaction, the chief financial officer now owns 164,910 shares in the company, valued at $9,894,600. The sale was disclosed in a filing with the SEC, which is available through this link.

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

On Tuesday, January 17th, R Scott Meyers sold 2,500 shares of PDC Energy stock. The stock was sold at an average price of $67.45, for a total transaction of $168,625.00.

PDC Energy Stock Down 3.6 %

PDCE stock opened at $57.94 on Friday. The firm has a 50 day moving average of $65.73 and a 200 day moving average of $66.79. The stock has a market capitalization of $5.12 billion, a PE ratio of 3.13, a price-to-earnings-growth ratio of 0.11 and a beta of 2.54. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.33. PDC Energy, Inc. has a 52 week low of $51.72 and a 52 week high of $89.22.

PDC Energy (NASDAQ:PDCE – Get Rating) last released its earnings results on Wednesday, February 22nd. The energy producer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.17. The company had revenue of $879.50 million during the quarter, compared to analysts’ expectations of $892.11 million. PDC Energy had a net margin of 46.24% and a return on equity of 42.84%. PDC Energy’s revenue for the quarter was down 41.8% on a year-over-year basis. During the same period last year, the business earned $2.86 EPS. Sell-side analysts forecast that PDC Energy, Inc. will post 14.01 earnings per share for the current year.

PDC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Thursday, March 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Wednesday, March 1st. PDC Energy’s dividend payout ratio (DPR) is presently 8.65%.

Institutional Trading of PDC Energy

Institutional investors have recently bought and sold shares of the stock. Money Concepts Capital Corp raised its position in PDC Energy by 1.9% during the 3rd quarter. Money Concepts Capital Corp now owns 7,406 shares of the energy producer’s stock worth $428,000 after buying an additional 137 shares during the last quarter. Apollon Wealth Management LLC raised its position in PDC Energy by 2.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 6,355 shares of the energy producer’s stock worth $367,000 after buying an additional 143 shares during the last quarter. Guggenheim Capital LLC raised its position in PDC Energy by 0.5% during the 3rd quarter. Guggenheim Capital LLC now owns 28,899 shares of the energy producer’s stock worth $1,670,000 after buying an additional 145 shares during the last quarter. Securian Asset Management Inc. raised its position in PDC Energy by 1.8% during the 3rd quarter. Securian Asset Management Inc. now owns 8,794 shares of the energy producer’s stock worth $508,000 after buying an additional 154 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in 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 buying an additional 163 shares during the last quarter. 96.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PDCE has been the topic of a number of recent analyst reports. Mizuho lowered their price target on shares of PDC Energy from $97.00 to $93.00 in a report on Friday, March 10th. Roth Capital restated a “buy” rating on shares of PDC Energy in a report on Friday, February 17th. Truist Financial cut shares of PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a report on Monday, December 12th. Finally, StockNews.com initiated coverage on shares of PDC Energy in a report on Thursday. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.33.

PDC Energy Company Profile

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PDC Energy, Inc engages in the exploration and production of oil and natural gas. The firm acquires, explores, and develops properties for the production of crude oil, natural gas, and natural gas liquids. Its primary operations are located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.