PDC Energy, Inc. (NASDAQ:PDCE) Shares Bought by JPMorgan Chase & Co.

Posted by Defense World Staff on Jun 12th, 2023

JPMorgan Chase & Co. boosted its position in shares of PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) by 0.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 473,269 shares of the energy producer’s stock after acquiring an additional 4,422 shares during the period. JPMorgan Chase & Co.’s holdings in PDC Energy were worth $30,042,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Guggenheim Capital LLC raised its stake in shares of 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 in the last quarter. DekaBank Deutsche Girozentrale increased its position in PDC Energy by 3.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 4,899 shares of the energy producer’s stock worth $307,000 after buying an additional 167 shares during the last quarter. Arizona State Retirement System increased its stake in PDC Energy by 0.7% during the 4th quarter. Arizona State Retirement System now owns 27,176 shares of the energy producer’s stock worth $1,725,000 after acquiring an additional 199 shares during the period. Pictet Asset Management SA grew its position in PDC Energy by 3.4% in the third quarter. Pictet Asset Management SA now owns 6,673 shares of the energy producer’s stock valued at $386,000 after acquiring an additional 217 shares during the last quarter. Finally, United Services Automobile Association lifted its holdings in shares of PDC Energy by 2.1% during the third quarter. United Services Automobile Association now owns 10,638 shares of the energy producer’s stock worth $614,000 after purchasing an additional 220 shares during the period. 96.16% of the stock is currently owned by institutional investors.

PDC Energy Stock Down 0.6 %

Shares of NASDAQ PDCE opened at $71.98 on Monday. The company has a market cap of $6.30 billion, a P/E ratio of 3.07, a PEG ratio of 0.15 and a beta of 2.51. PDC Energy, Inc. has a 1 year low of $51.72 and a 1 year high of $85.73. 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 firm has a 50-day simple moving average of $66.83 and a two-hundred day simple moving average of $65.81.

PDC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 22nd. Investors of record on Thursday, June 8th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, June 7th. This represents a $1.60 annualized dividend and a yield of 2.22%. PDC Energy’s dividend payout ratio is currently 6.82%.

Insider Buying and Selling

In related news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $68.71, for a total transaction of $137,420.00. Following the sale, the chief executive officer now directly owns 544,070 shares in the company, valued at approximately $37,383,049.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other PDC Energy news, CFO R Scott Meyers sold 2,500 shares of the firm’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the sale, the chief financial officer now directly owns 164,910 shares in the company, valued at $9,894,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $68.71, for a total transaction of $137,420.00. Following the sale, the chief executive officer now directly owns 544,070 shares in the company, valued at $37,383,049.70. The disclosure for this sale can be found here. Insiders sold 28,700 shares of company stock valued at $1,874,079 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PDCE shares. Mizuho lowered PDC Energy from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 24th. Roth Capital restated a “buy” rating on shares of PDC Energy in a research note on Friday, February 17th. Truist Financial lifted 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. Seaport Res Ptn lowered PDC Energy from a “buy” rating to a “neutral” rating in a report on Wednesday, May 31st. Finally, The Goldman Sachs Group raised their price target on shares of PDC Energy from $65.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, April 21st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.50.

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.