Investors Buy Large Volume of PDC Energy Put Options (PDCE)
PDC Energy, Inc. (NASDAQ:PDCE) was the target of unusually large options trading on Monday. Investors acquired 1,071 put options on the stock. This represents an increase of Infinity compared to the average daily volume of 0 put options.
PDCE has been the subject of several recent analyst reports. BidaskClub downgraded PDC Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded PDC Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Williams Capital set a $67.00 price objective on PDC Energy and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Mizuho upgraded PDC Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $53.00 to $55.00 in a research report on Wednesday, August 9th. Finally, Seaport Global Securities upgraded PDC Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $51.00 in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $68.95.
In related news, COO Scott J. Reasoner sold 1,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $49.64, for a total transaction of $49,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.91% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDCE. UBS Group AG grew its stake in PDC Energy by 101.1% during the first quarter. UBS Group AG now owns 14,621 shares of the energy producer’s stock worth $912,000 after purchasing an additional 1,395,552 shares during the period. Vanguard Group Inc. grew its stake in PDC Energy by 13.5% during the second quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock worth $244,797,000 after purchasing an additional 677,329 shares during the period. State Street Corp grew its stake in PDC Energy by 24.8% during the second quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock worth $105,957,000 after purchasing an additional 487,816 shares during the period. Precocity Capital LP acquired a new stake in PDC Energy during the third quarter worth approximately $21,083,000. Finally, BlackRock Inc. grew its stake in PDC Energy by 5.5% during the second quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock worth $313,529,000 after purchasing an additional 381,958 shares during the period.
Shares of PDC Energy (NASDAQ:PDCE) opened at $44.03 on Friday. The firm has a market capitalization of $2,870.00, a PE ratio of 114.41 and a beta of 0.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. PDC Energy has a one year low of $36.74 and a one year high of $84.88.
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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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