Stock Traders Buy High Volume of PDC Energy Put Options (PDCE)

PDC Energy, Inc. (NASDAQ:PDCE) was the recipient of some unusual options trading activity on Monday. Investors acquired 1,071 put options on the stock. This represents an increase of approximately Infinity compared to the average volume of 0 put options.

In other news, COO Scott J. Reasoner sold 1,000 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is accessible through this link. 0.91% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in PDC Energy by 8.7% in the second quarter. Rhumbline Advisers now owns 129,684 shares of the energy producer’s stock valued at $5,591,000 after acquiring an additional 10,360 shares during the last quarter. Stevens Capital Management LP purchased a new position in PDC Energy in the second quarter valued at about $978,000. Tricadia Capital Management LLC purchased a new position in PDC Energy in the second quarter valued at about $693,000. Moody Aldrich Partners LLC boosted its stake in PDC Energy by 37.9% in the second quarter. Moody Aldrich Partners LLC now owns 7,605 shares of the energy producer’s stock valued at $328,000 after acquiring an additional 2,090 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in PDC Energy in the third quarter valued at about $883,000.

PDC Energy (PDCE) opened at $43.31 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $3,175.73, a PE ratio of 123.61 and a beta of 0.82. PDC Energy has a 52 week low of $36.74 and a 52 week high of $84.88.

Several brokerages have recently weighed in on PDCE. Williams Capital set a $67.00 price objective on shares of PDC Energy and gave the company a “buy” rating in a report on Tuesday, August 8th. Imperial Capital initiated coverage on shares of PDC Energy in a research report on Friday, August 18th. They set an “outperform” rating and a $66.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and set a $76.00 target price on shares of PDC Energy in a research report on Wednesday, August 16th. Seaport Global Securities raised shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $51.00 in a research report on Friday, August 11th. Finally, Mizuho raised shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $53.00 to $55.00 in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $68.95.

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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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