Stocks of PDC Energy Inc. (NASDAQ:PDCE) traded higher last session on Wall Street, up 0.62% to $63.48.
According to the data, PDC Energy Inc. (NASDAQ:PDCE) has 14 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $130.00 and a low of $68.00, we find $92.00. Given the previous closing price of $63.09, this indicates a potential upside of 45.82 percent. PDCE stock price is now -9.45% away from the 50-day moving average and -5.83% away from the 200-day moving average. The market capitalization of the company currently stands at $5.81B.
A total of 5 analysts have issued a hold rating and 8 have given it a buy rating. Brokers who have rated the stock have averaged $94.33 as their price target over the next twelve months.
With the price target maintained at $68, Truist recently Downgraded its rating from Buy to Hold for PDC Energy Inc. (NASDAQ: PDCE). On October 18, 2022, Goldman Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $74, while ‘KeyBanc Capital Markets’ rates the stock as ‘Sector Weight’.
In other news, Peterson Lynn A, Director sold 7,000 shares of the company’s stock on Dec 15. The stock was sold for $448,549 at an average price of $64.08. Upon completion of the transaction, the Director now directly owns 254,167 shares in the company, valued at $16.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 05, Director Butcher Pamela R bought 1,000 shares of the business’s stock. A total of $68,280 was incurred on buying the stock at an average price of $68.28. This leaves the insider owning 4,787 shares of the company worth $0.3 million. Insiders disposed of 438,435 shares of company stock worth roughly $27.83 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PDCE stock. A new stake in PDC Energy Inc. shares was purchased by ADAGE CAPITAL PARTNERS GP, L.L.C. during the first quarter worth $9,839,000. SOUTH DAKOTA INVESTMENT COUNCIL invested $9,313,000 in shares of PDCE during the first quarter. In the first quarter, BLUECREST CAPITAL MANAGEMENT LTD acquired a new stake in PDC Energy Inc. valued at approximately $4,653,000. ALGERT GLOBAL LLC acquired a new stake in PDCE for approximately $4,236,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in PDCE valued at around $3,948,000 in the second quarter. In total, there are 504 active investors with 99.00% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $62.55 for PDC Energy Inc. (NASDAQ: PDCE). During the past 12 months, PDC Energy Inc. has had a low of $47.79 and a high of $88.32. As of last week, the company has a debt-to-equity ratio of 0.35, a current ratio of 0.50, and a quick ratio of 0.50. The fifty day moving average price for PDCE is $70.58 and a two-hundred day moving average price translates $68.05 for the stock.
The latest earnings results from PDC Energy Inc. (NASDAQ: PDCE) was released for Jun, 2022. According to the Oil & Gas E&P Company, earnings per share came in at $5.11, beating analysts’ expectations of $4.64 by 0.47. This compares to $1.45 EPS in the same period last year. The net profit margin was 49.80% and return on equity was 57.90% for PDCE. The company reported revenue of $1.51 billion for the quarter, compared to $486.36 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 210.73 percent. For the current quarter, analysts expect PDCE to generate $1.02B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/28/2022. Investors who held shares on 12/19/2022 were paid a $1.00 dividend. On an annualized basis, this represents a $1.40 dividend and a 2.21% percent yield. There was an ex-dividend date of 12/16/2022 for this dividend. In terms of dividend payout ratio, PDCE is presently at 3.60%.
PDC Energy Inc.(PDCE) Company Profile
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. As of December 31, 2021, it owned interests in approximately 3,500 productive gross wells. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc. in June 2012. PDC Energy, Inc. was founded in 1969 and is headquartered in Denver, Colorado.