Principal Financial Group Inc. boosted its position in PDC Energy Inc (NASDAQ:PDCE) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 514,593 shares of the energy producer’s stock after buying an additional 14,664 shares during the period. Principal Financial Group Inc. owned approximately 0.78% of PDC Energy worth $25,230,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Centaurus Financial Inc. acquired a new position in shares of PDC Energy during the first quarter valued at about $107,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of PDC Energy by 50.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after purchasing an additional 1,201 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of PDC Energy during the first quarter valued at about $192,000. ETRADE Capital Management LLC acquired a new position in shares of PDC Energy during the fourth quarter valued at about $212,000. Finally, Jane Street Group LLC acquired a new position in shares of PDC Energy during the fourth quarter valued at about $212,000.
In other news, Director Larry F. Mazza sold 4,000 shares of the stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $61.00, for a total transaction of $244,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lance Lauck sold 500 shares of the stock in a transaction that occurred on Friday, April 13th. The shares were sold at an average price of $52.50, for a total transaction of $26,250.00. Following the transaction, the executive vice president now directly owns 98,728 shares of the company’s stock, valued at $5,183,220. The disclosure for this sale can be found here. Insiders sold a total of 19,545 shares of company stock valued at $1,155,768 over the last ninety days. 1.00% of the stock is currently owned by insiders.
PDCE stock traded down $1.15 during trading on Monday, reaching $60.42. The stock had a trading volume of 46,673 shares, compared to its average volume of 918,486. PDC Energy Inc has a one year low of $36.74 and a one year high of $66.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -17.69, a PEG ratio of 0.74 and a beta of 0.66.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Wednesday, May 2nd. The energy producer reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.34). PDC Energy had a positive return on equity of 1.47% and a negative net margin of 19.50%. The firm had revenue of $260.60 million during the quarter, compared to the consensus estimate of $270.04 million. During the same period in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. sell-side analysts forecast that PDC Energy Inc will post 2.17 EPS for the current fiscal year.
PDC Energy 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.
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