PDC Energy Inc (PDCE) Insider Barton R. Brookman, Jr. Sells 1,500 Shares

PDC Energy Inc (NASDAQ:PDCE) insider Barton R. Brookman, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $45.00, for a total value of $67,500.00. Following the completion of the sale, the insider now directly owns 200,526 shares in the company, valued at $9,023,670. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of PDCE stock opened at $49.65 on Thursday. PDC Energy Inc has a 12 month low of $40.62 and a 12 month high of $66.20. The stock has a market cap of $3.10 billion, a PE ratio of -14.27, a PEG ratio of 0.55 and a beta of 0.66. The company has a current ratio of 0.38, a quick ratio of 0.36 and a debt-to-equity ratio of 0.53.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Monday, November 5th. The energy producer reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.11). PDC Energy had a negative net margin of 10.52% and a positive return on equity of 3.64%. The firm had revenue of $280.70 million for the quarter, compared to analyst estimates of $337.69 million. During the same period in the previous year, the business posted ($3.85) earnings per share. The business’s revenue for the quarter was up 53.2% compared to the same quarter last year. Equities analysts predict that PDC Energy Inc will post 2.2 EPS for the current year.

Several analysts recently weighed in on the company. Macquarie lowered PDC Energy from an “outperform” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Tuesday, August 7th. Williams Capital set a $82.00 price objective on PDC Energy and gave the company a “buy” rating in a research note on Thursday, August 9th. TD Securities set a $79.00 price objective on PDC Energy and gave the company a “buy” rating in a research note on Thursday, August 9th. BidaskClub raised PDC Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Mitsubishi UFJ Financial Group reduced their price objective on PDC Energy to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. PDC Energy has a consensus rating of “Buy” and an average target price of $71.25.

Several hedge funds have recently made changes to their positions in PDCE. Russell Investments Group Ltd. acquired a new stake in shares of PDC Energy during the first quarter valued at about $192,000. LPL Financial LLC lifted its stake in shares of PDC Energy by 40.9% in the first quarter. LPL Financial LLC now owns 7,997 shares of the energy producer’s stock worth $392,000 after acquiring an additional 2,320 shares during the period. Millennium Management LLC lifted its stake in shares of PDC Energy by 205.7% in the first quarter. Millennium Management LLC now owns 181,768 shares of the energy producer’s stock worth $8,912,000 after acquiring an additional 122,300 shares during the period. Legal & General Group Plc lifted its stake in shares of PDC Energy by 2.9% in the first quarter. Legal & General Group Plc now owns 140,756 shares of the energy producer’s stock worth $6,900,000 after acquiring an additional 4,026 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of PDC Energy by 994.8% in the first quarter. Royal Bank of Canada now owns 4,653 shares of the energy producer’s stock worth $228,000 after acquiring an additional 4,228 shares during the period.

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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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