Investors Buy High Volume of Call Options on PDC Energy (NASDAQ:PDCE)

PDC Energy, Inc. (NASDAQ:PDCE) was the recipient of unusually large options trading on Tuesday. Investors acquired 2,590 call options on the company. This is an increase of approximately 1,750% compared to the average volume of 140 call options.

Several research firms have weighed in on PDCE. Stifel Nicolaus lowered their target price on PDC Energy from $26.00 to $20.00 in a report on Tuesday, September 15th. KeyCorp upped their target price on PDC Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, January 7th. BidaskClub raised PDC Energy from a “hold” rating to a “buy” rating in a report on Thursday, January 7th. ValuEngine raised PDC Energy from a “sell” rating to a “hold” rating in a report on Tuesday, December 1st. Finally, TD Securities upped their target price on PDC Energy from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $23.60.

In related news, EVP Lance Lauck sold 3,498 shares of the company’s stock in a transaction on Wednesday, November 25th. The stock was sold at an average price of $18.50, for a total transaction of $64,713.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Barton R. Brookman, Jr. sold 3,750 shares of the company’s stock in a transaction on Wednesday, November 18th. The stock was sold at an average price of $16.93, for a total value of $63,487.50. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new position in PDC Energy during the second quarter worth about $46,000. Private Advisor Group LLC purchased a new position in PDC Energy during the second quarter worth about $59,000. Cerebellum GP LLC purchased a new position in PDC Energy during the third quarter worth about $66,000. Skandinaviska Enskilda Banken AB publ purchased a new position in PDC Energy during the third quarter worth about $108,000. Finally, AQR Capital Management LLC purchased a new position in PDC Energy during the second quarter worth about $164,000.

Shares of NASDAQ:PDCE traded down $0.77 on Wednesday, hitting $24.40. The company had a trading volume of 35,621 shares, compared to its average volume of 1,122,409. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.73. PDC Energy has a 52-week low of $4.51 and a 52-week high of $25.83. The business has a 50 day moving average of $19.98 and a 200 day moving average of $15.37. The company has a market cap of $2.43 billion, a PE ratio of -3.47, a PEG ratio of 0.38 and a beta of 3.13.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Wednesday, November 4th. The energy producer reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.42. PDC Energy had a negative return on equity of 2.57% and a negative net margin of 47.97%. The business had revenue of $249.22 million for the quarter, compared to the consensus estimate of $385.30 million. During the same period in the prior year, the business earned ($0.39) earnings per share. The business’s revenue was down 31.9% on a year-over-year basis. As a group, equities analysts predict that PDC Energy will post 0.88 EPS for the current year.

PDC Energy 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.

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