Jeffrey C. Swoveland Sells 1,200 Shares of PDC Energy Inc. (PDCE) Stock
PDC Energy Inc. (NASDAQ:PDCE) insider Jeffrey C. Swoveland sold 1,200 shares of the stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $69.10, for a total transaction of $82,920.00. Following the completion of the sale, the insider now directly owns 22,606 shares in the company, valued at $1,562,074.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
PDC Energy Inc. (NASDAQ:PDCE) opened at 64.37 on Wednesday. The company’s 50 day moving average is $64.34 and its 200 day moving average is $61.02. PDC Energy Inc. has a one year low of $42.67 and a one year high of $71.00. The stock’s market cap is $3.59 billion.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.11. The firm had revenue of $164 million for the quarter, compared to analysts’ expectations of $178.12 million. PDC Energy had a negative return on equity of 2.31% and a negative net margin of 42.23%. The firm’s quarterly revenue was down 29.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.89) EPS. On average, equities research analysts expect that PDC Energy Inc. will post ($0.43) EPS for the current year.
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A number of analysts recently weighed in on PDCE shares. Canaccord Genuity set a $80.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research report on Monday, August 29th. Bank of America Corp. reissued a “buy” rating and issued a $76.00 price objective on shares of PDC Energy in a research report on Wednesday, August 24th. Zacks Investment Research lowered shares of PDC Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Wells Fargo & Co. reissued a “hold” rating on shares of PDC Energy in a research report on Sunday, September 11th. Finally, Royal Bank Of Canada increased their price objective on shares of PDC Energy from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 10th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. PDC Energy currently has a consensus rating of “Buy” and an average target price of $72.79.
A number of institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in shares of PDC Energy during the second quarter worth approximately $112,887,000. Causeway Capital Management LLC purchased a new position in shares of PDC Energy during the second quarter worth approximately $110,908,000. Van ECK Associates Corp increased its position in shares of PDC Energy by 199.4% in the second quarter. Van ECK Associates Corp now owns 2,031,800 shares of the company’s stock worth $117,052,000 after buying an additional 1,353,100 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of PDC Energy by 31.2% in the third quarter. BlackRock Fund Advisors now owns 3,954,304 shares of the company’s stock worth $265,176,000 after buying an additional 940,134 shares during the last quarter. Finally, OZ Management LP purchased a new position in shares of PDC Energy during the third quarter worth approximately $26,824,000.
About PDC Energy
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
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