Sei Investments Co. boosted its stake in PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,541 shares of the energy producer’s stock after purchasing an additional 555 shares during the period. Sei Investments Co. owned approximately 0.09% of PDC Energy worth $5,494,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its position in shares of PDC Energy by 2.3% during the third quarter. Apollon Wealth Management LLC now owns 6,355 shares of the energy producer’s stock worth $367,000 after acquiring an additional 143 shares during the last quarter. Guggenheim Capital LLC increased its holdings 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 purchasing an additional 145 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of PDC Energy by 3.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 4,899 shares of the energy producer’s stock valued at $307,000 after buying an additional 167 shares during the last quarter. Arizona State Retirement System grew its position in shares of PDC Energy by 0.7% during the fourth quarter. Arizona State Retirement System now owns 27,176 shares of the energy producer’s stock worth $1,725,000 after buying an additional 199 shares in the last quarter. Finally, Pictet Asset Management SA increased its stake in shares of PDC Energy by 3.4% in the third quarter. Pictet Asset Management SA now owns 6,673 shares of the energy producer’s stock worth $386,000 after buying an additional 217 shares during the last quarter. 96.16% of the stock is owned by hedge funds and other institutional investors.
PDC Energy Price Performance
Shares of NASDAQ PDCE opened at $70.62 on Tuesday. PDC Energy, Inc. has a 1-year low of $51.72 and a 1-year high of $89.22. The firm has a market capitalization of $6.18 billion, a PE ratio of 3.01, a P/E/G ratio of 0.14 and a beta of 2.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.43 and a quick ratio of 0.43. The business’s fifty day moving average price is $66.13 and its two-hundred day moving average price is $65.91.
PDC Energy Dividend Announcement
Wall Street Analysts Forecast Growth
PDCE has been the topic of a number of research analyst reports. Mizuho downgraded shares of PDC Energy from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 24th. JPMorgan Chase & Co. increased their price target on shares of PDC Energy from $76.00 to $80.00 in a research report on Thursday, April 6th. StockNews.com initiated coverage on PDC Energy in a report on Thursday, June 1st. They issued a “hold” rating for the company. Truist Financial increased their target price on PDC Energy from $70.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Finally, The Goldman Sachs Group boosted their price target on PDC Energy from $65.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, April 21st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $84.50.
Insider Buying and Selling at PDC Energy
In other news, CFO R Scott Meyers sold 2,500 shares of PDC Energy stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $69.70, for a total transaction of $174,250.00. Following the sale, the chief financial officer now owns 162,410 shares of the company’s stock, valued at $11,319,977. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $68.71, for a total transaction of $137,420.00. Following the transaction, the chief executive officer now directly owns 544,070 shares of the company’s stock, valued at $37,383,049.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO R Scott Meyers sold 2,500 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $69.70, for a total transaction of $174,250.00. Following the completion of the sale, the chief financial officer now directly owns 162,410 shares of the company’s stock, valued at approximately $11,319,977. The disclosure for this sale can be found here. Insiders sold 28,700 shares of company stock valued at $1,874,079 in the last ninety days. Company insiders own 1.50% of the company’s stock.
About PDC Energy
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.
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