Nuveen Asset Management LLC Sells 91,407 Shares of PDC Energy, Inc. (NASDAQ:PDCE)

Nuveen Asset Management LLC lowered its holdings in shares of PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) by 29.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,952 shares of the energy producer’s stock after selling 91,407 shares during the period. Nuveen Asset Management LLC’s holdings in PDC Energy were worth $12,943,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quantamental Technologies LLC boosted its stake in PDC Energy by 16.5% during the second quarter. Quantamental Technologies LLC now owns 5,357 shares of the energy producer’s stock worth $330,000 after acquiring an additional 759 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of PDC Energy by 61.7% in the third quarter. Illinois Municipal Retirement Fund now owns 11,503 shares of the energy producer’s stock worth $665,000 after buying an additional 4,388 shares in the last quarter. FMR LLC lifted its stake in shares of PDC Energy by 14.9% in the second quarter. FMR LLC now owns 5,805,913 shares of the energy producer’s stock worth $357,703,000 after buying an additional 753,500 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of PDC Energy by 325.5% in the second quarter. Y Intercept Hong Kong Ltd now owns 15,047 shares of the energy producer’s stock worth $927,000 after buying an additional 11,511 shares in the last quarter. Finally, Foster & Motley Inc. bought a new position in shares of PDC Energy in the second quarter worth approximately $352,000. Institutional investors own 96.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Roth Capital reiterated a “buy” rating on shares of PDC Energy in a research note on Friday, February 17th. Mizuho assumed coverage on shares of PDC Energy in a research note on Monday, January 9th. They issued a “buy” rating and a $97.00 target price on the stock. Truist Financial downgraded shares of PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 target price on the stock. in a research note on Monday, December 12th. Finally, StockNews.com cut shares of PDC Energy from a “buy” rating to a “hold” rating in a report on Saturday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Insider Buying and Selling at PDC Energy

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In other PDC Energy news, Director Lynn A. Peterson sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $64.08, for a total transaction of $448,560.00. Following the completion of the sale, the director now directly owns 254,167 shares of the company’s stock, valued at $16,287,021.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other PDC Energy news, Director Lynn A. Peterson sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $64.08, for a total value of $448,560.00. Following the completion of the transaction, the director now directly owns 254,167 shares in the company, valued at $16,287,021.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO R Scott Meyers sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $67.45, for a total transaction of $168,625.00. Following the completion of the transaction, the chief financial officer now owns 166,690 shares of the company’s stock, valued at $11,243,240.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,500 shares of company stock valued at $1,344,555. Insiders own 1.20% of the company’s stock.

PDC Energy Stock Down 1.8 %

Shares of PDCE stock opened at $68.71 on Wednesday. PDC Energy, Inc. has a 12 month low of $51.72 and a 12 month high of $89.22. The stock has a market cap of $6.07 billion, a P/E ratio of 3.71, a P/E/G ratio of 0.13 and a beta of 2.54. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $65.39 and a two-hundred day simple moving average of $66.98.

PDC Energy (NASDAQ:PDCE – Get Rating) last announced its earnings results on Wednesday, February 22nd. The energy producer reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.17. PDC Energy had a net margin of 46.24% and a return on equity of 42.84%. The business had revenue of $879.50 million during the quarter, compared to analysts’ expectations of $892.11 million. During the same period in the prior year, the company earned $2.86 earnings per share. The firm’s revenue was down 41.8% on a year-over-year basis. On average, research analysts expect that PDC Energy, Inc. will post 14.45 earnings per share for the current year.

PDC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Thursday, March 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. PDC Energy’s dividend payout ratio is currently 8.65%.

About PDC Energy

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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.