PDC Energy Sees Unusually High Options Volume (PDCE)

PDC Energy Inc (NASDAQ:PDCE) saw unusually large options trading activity on Monday. Investors bought 1,335 call options on the company. This represents an increase of approximately 734% compared to the average daily volume of 160 call options.

In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of the company’s stock in a transaction on Monday, October 16th. The shares were 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 is available at this hyperlink. 0.91% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PDCE. Vanguard Group Inc. grew its stake in PDC Energy by 13.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock valued at $244,797,000 after acquiring an additional 677,329 shares during the last quarter. State Street Corp grew its stake in PDC Energy by 24.8% in the 2nd quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock valued at $105,957,000 after acquiring an additional 487,816 shares during the last quarter. Precocity Capital LP acquired a new stake in PDC Energy in the 3rd quarter valued at about $21,083,000. BlackRock Inc. grew its stake in PDC Energy by 5.5% in the 2nd quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock valued at $313,529,000 after acquiring an additional 381,958 shares during the last quarter. Finally, Caymus Capital Partners L.P. grew its stake in PDC Energy by 33.3% in the 3rd quarter. Caymus Capital Partners L.P. now owns 1,525,300 shares of the energy producer’s stock valued at $74,785,000 after acquiring an additional 380,900 shares during the last quarter.

A number of equities analysts have commented on PDCE shares. Stifel Nicolaus restated a “buy” rating and set a $81.00 price objective (down previously from $82.00) on shares of PDC Energy in a research report on Tuesday, November 7th. Williams Capital upped their price target on shares of PDC Energy from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Barclays upped their price target on shares of PDC Energy from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, November 20th. Jefferies Group assumed coverage on shares of PDC Energy in a research note on Monday, October 9th. They set a “buy” rating and a $60.00 price target on the stock. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $48.00 price target on shares of PDC Energy in a research note on Friday, September 1st. Twelve investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.62.

Shares of PDC Energy (NASDAQ:PDCE) opened at $44.35 on Friday. The company has a market cap of $2,920.00, a PE ratio of 114.26 and a beta of 0.80. PDC Energy has a 12 month low of $36.74 and a 12 month high of $80.82. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43.

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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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