PDC Energy Inc (PDCE) Director David C. Parke Sells 200 Shares of Stock

PDC Energy Inc (NASDAQ:PDCE) Director David C. Parke sold 200 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $64.66, for a total transaction of $12,932.00. Following the transaction, the director now owns 17,767 shares of the company’s stock, valued at approximately $1,148,814.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

PDC Energy Inc (NASDAQ:PDCE) traded up 0.19% during midday trading on Monday, hitting $64.77. 859,020 shares of the stock traded hands. The company has a 50-day moving average of $69.84 and a 200-day moving average of $69.34. PDC Energy Inc has a 1-year low of $50.12 and a 1-year high of $84.88. The stock’s market cap is $4.22 billion.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.14. The business earned $108.09 million during the quarter, compared to the consensus estimate of $206.40 million. PDC Energy had a negative net margin of 42.23% and a negative return on equity of 2.31%. PDC Energy’s quarterly revenue was down 35.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS. On average, equities analysts expect that PDC Energy Inc will post $0.53 EPS for the current fiscal year.

Insider Buying and Selling by Quarter for PDC Energy (NASDAQ:PDCE)

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Several research firms have issued reports on PDCE. Zacks Investment Research upgraded shares of PDC Energy from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Thursday. BMO Capital Markets restated a “hold” rating and issued a $70.00 price objective on shares of PDC Energy in a research note on Sunday, March 12th. Deutsche Bank AG decreased their price objective on shares of PDC Energy from $86.00 to $79.00 and set a “hold” rating for the company in a research note on Tuesday, March 7th. Hilliard Lyons upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 1st. Finally, Scotiabank set a $84.00 price objective on shares of PDC Energy and gave the company a “hold” rating in a research note on Tuesday, February 28th. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $77.00.

Hedge funds have recently bought and sold shares of the company. FMR LLC boosted its position in PDC Energy by 6.6% in the fourth quarter. FMR LLC now owns 7,100,357 shares of the company’s stock valued at $515,344,000 after buying an additional 441,740 shares during the last quarter. BlackRock Fund Advisors boosted its position in PDC Energy by 31.2% in the third quarter. BlackRock Fund Advisors now owns 3,954,304 shares of the company’s stock valued at $265,176,000 after buying an additional 940,134 shares during the last quarter. Victory Capital Management Inc. boosted its position in PDC Energy by 12.2% in the third quarter. Victory Capital Management Inc. now owns 2,199,180 shares of the company’s stock valued at $147,477,000 after buying an additional 239,674 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in PDC Energy by 6.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,272,393 shares of the company’s stock valued at $85,327,000 after buying an additional 71,818 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in PDC Energy by 17.3% in the third quarter. Bank of New York Mellon Corp now owns 1,258,587 shares of the company’s stock valued at $84,401,000 after buying an additional 185,783 shares during the last quarter.

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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