However, things haven’t been smooth for PDC Energy lately. They last released their quarterly earnings data on May 3rd where they reported an EPS (Earnings Per Share) of $2.61; a decline from the consensus estimate of $2.91 by ($0.30). Experts believe that this decline could impact their year-end results as analysts estimate PDCE will post $12.76 EPS for the current year – low compared to previous years.
PDCE has been hot topic on Wall Street as multiple analyst reports from leading firms poured in after its announcement about Q4 happenings report mid-May among whom Roth Capital and JP Morgan (considered amongst the top brokerage houses) reiterated their views on PDCE as being “buy” while Truist Financial increased their price objective from $70 to $77 calling it “hold” rating; giving off complex signals for traders to make informed decisions.
Bloomberg stated that PDC Energy, Inc. has an average target price of $84.50 with a consensus rating of “hold”. Such developments in the energy industry highlight the importance of keeping a pulse on trends and market fluctuations if one wishes to invest or trade efficiently. The upcoming stages will unveil if Goehring & Rozencwajg Associates LLC’s decision will prove fruitful for both themselves and PDC Energy or not!
Institutional Investors and Hedge Funds Boosting Positions in PDC Energy Amid Bullish Market Performance
The oil and gas industry has seen a surge in trading activities by institutional investors and hedge funds who have made significant changes to their positions in PDCE. These investment firms seem to be confident about PDC Energy’s growth prospects, given the bullish signs evident from its stock market performance. The company’s shares opened at $71.64 on Friday, with a 50-day simple moving average of $67.16 and a 200-day simple moving average of $65.83.
Various hedge funds increased their positions in PDC Energy during Q4 of last year, including Natixis, Belpointe Asset Management LLC, and U.S Capital Wealth Advisors LLC, with transactions that amounted to around $25k – $27k worth of new positions in PDC Energy. Additionally, Northwestern Mutual Wealth Management Co. also grew its position in the company by 2,600% during the same period.
Geneos Wealth Management Inc., on the other hand, boosted its position in PDC Energy shares by 129.5% during Q1 of this year. The firm now owns about 443 shares of the energy producer companies that are worth $32,000 after adding an extra 250 shares during the period.
As per reports published by Bloomberg Intelligence, out of nine analysis reports on PDCE stocks so far; six rated it as hold with three having buy ratings or suggestions – signaling cautious investor sentiment for the firm at present. Truist Financial reiterated a “hold” rating but increased it’s price objective on PDCE from $70.00 to $77.00 in a research note dating back to April.
Even as Institutional investors and hedge funds control as much as 96% of PDCE’s capitalisation; insiders have been selling off their stakes lately with Director Lynn A Peterson selling off chunks totaling over seven thousand shares at an average price point of sixty-two dollars representing an estimated loss worth approximately four hundred and thirty-four thousand dollars. These sales transactions by Company insiders over the last few months have totaled over twenty-six thousand shares valued at over one million seven hundred and twenty-four thousand dollars.
However, PDCE has a dividend distribution program in place, which pays out a quarterly dividend of $0.40 per common share to shareholders of record on Thursday, June 8th. This represents a 2.23% annual yield on investment for shareholders with an average target price of about $84.50 per share according to Bloomberg Intelligence reports.
As we head into the second half of 2021, it’s essential to keep an eye on how PDC Energy continues to perform in the current market and its ability to satisfy investor expectations while also making efforts to remain competitive in the volatile oil and gas market that is highly sensitive to extreme changes in global prices and demand patterns.
The post Investment Firm Goehring & Rozencwajg Associates LLC Acquires Large Stake in PDC Energy amidst Earnings Decline and Complex Analyst Ratings appeared first on Best Stocks.
