Parametric Portfolio Associates LLC lifted its stake in shares of PDC Energy, Inc. (NASDAQ:PDCE) by 20.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,394 shares of the energy producer’s stock after acquiring an additional 11,438 shares during the period. Parametric Portfolio Associates LLC owned 0.10% of PDC Energy worth $2,862,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of PDCE. Teachers Advisors LLC boosted its stake in shares of PDC Energy by 3.5% during the first quarter. Teachers Advisors LLC now owns 105,212 shares of the energy producer’s stock valued at $6,560,000 after acquiring an additional 3,511 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of PDC Energy by 2.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,784 shares of the energy producer’s stock valued at $236,000 after acquiring an additional 93 shares during the last quarter. UBS Group AG lifted its position 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 buying an additional 1,395,552 shares during the period. Amalgamated Bank lifted its position in PDC Energy by 0.9% during the first quarter. Amalgamated Bank now owns 7,120 shares of the energy producer’s stock worth $444,000 after buying an additional 64 shares during the period. Finally, State Street Corp lifted its position in PDC Energy by 10.4% during the first quarter. State Street Corp now owns 1,970,012 shares of the energy producer’s stock worth $122,833,000 after buying an additional 184,874 shares during the period.
In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of the 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 legal filing with the SEC, which is available through this hyperlink. 0.91% of the stock is owned by corporate insiders.
PDCE has been the topic of several recent analyst reports. Bank of America Corporation initiated coverage on PDC Energy in a research report on Wednesday, July 19th. They set a “buy” rating and a $60.00 target price on the stock. KeyCorp reiterated a “buy” rating and set a $50.00 target price on shares of PDC Energy in a research report on Tuesday, September 19th. Stifel Nicolaus reiterated 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 upgraded PDC Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $51.00 in a research report on Friday, August 11th. Finally, Mizuho upgraded PDC Energy from a “neutral” rating to a “buy” rating and increased 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 issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $68.78.
Shares of PDC Energy, Inc. (NASDAQ PDCE) opened at $50.42 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.39. The company has a market cap of $3.33 billion, a PE ratio of 265.89 and a beta of 0.82.
PDC Energy (NASDAQ:PDCE) last issued its earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.20. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. The company had revenue of $275.20 million for the quarter, compared to analysts’ expectations of $218.90 million. During the same period in the prior year, the business earned ($0.11) EPS. The firm’s quarterly revenue was up 1269.2% on a year-over-year basis. research analysts expect that PDC Energy, Inc. will post 0.29 earnings per share for the current fiscal year.
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PDC Energy Profile
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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