PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) – Equities researchers at Seaport Res Ptn lowered their Q3 2022 EPS estimates for PDC Energy in a research note issued to investors on Wednesday, September 21st. Seaport Res Ptn analyst N. Pope now expects that the energy producer will earn $5.43 per share for the quarter, down from their previous estimate of $5.50. The consensus estimate for PDC Energy's current full-year earnings is $16.63 per share. Seaport Res Ptn also issued estimates for PDC Energy's Q4 2022 earnings at $4.45 EPS.

Several other analysts have also recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of PDC Energy from $87.00 to $77.00 and set a "buy" rating for the company in a research note on Tuesday, July 5th. KeyCorp initiated coverage on shares of PDC Energy in a research report on Monday, September 19th. They set a "sector weight" rating for the company. Wells Fargo & Company increased their price objective on shares of PDC Energy from $102.00 to $105.00 and gave the stock an "overweight" rating in a research report on Monday, July 11th. MKM Partners reaffirmed a "buy" rating and set a $76.00 price objective on shares of PDC Energy in a research report on Wednesday, July 20th. Finally, TheStreet upgraded shares of PDC Energy from a "c+" rating to a "b" rating in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, PDC Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.75.

PDC Energy Stock Down 9.9 %

PDC Energy (NASDAQ:PDCE – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The energy producer reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $4.57 by $0.54. PDC Energy had a net margin of 44.67% and a return on equity of 47.13%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion.

Institutional Trading of PDC Energy

Institutional investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc acquired a new stake in shares of PDC Energy during the first quarter worth $29,000. FinTrust Capital Advisors LLC grew its position in shares of PDC Energy by 68.7% during the first quarter. FinTrust Capital Advisors LLC now owns 437 shares of the energy producer's stock worth $32,000 after acquiring an additional 178 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of PDC Energy by 129.5% during the first quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer's stock worth $32,000 after acquiring an additional 250 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in shares of PDC Energy during the first quarter worth about $36,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of PDC Energy by 169.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 810 shares of the energy producer's stock worth $39,000 after acquiring an additional 509 shares during the last quarter. 96.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business's stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $61.85, for a total value of $123,700.00. Following the completion of the transaction, the chief executive officer now owns 388,201 shares of the company's stock, valued at $24,010,231.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business's stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $61.85, for a total value of $123,700.00. Following the completion of the sale, the chief executive officer now directly owns 388,201 shares in the company, valued at $24,010,231.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lynn A. Peterson sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $65.86, for a total transaction of $461,020.00. Following the sale, the director now owns 275,167 shares of the company's stock, valued at $18,122,498.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,000 shares of company stock worth $1,706,410. Insiders own 1.20% of the company's stock.

PDC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Wednesday, September 7th. PDC Energy's payout ratio is currently 11.08%.

About PDC Energy

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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.

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