PDC Energy (PDCE) Shares Bought by AT Bancorp

AT Bancorp boosted its stake in shares of PDC Energy (NASDAQ:PDCE) by 20.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,155 shares of the energy producer’s stock after purchasing an additional 5,857 shares during the period. AT Bancorp owned about 0.05% of PDC Energy worth $1,674,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. lifted its position in PDC Energy by 4.5% during the fourth quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock valued at $445,509,000 after purchasing an additional 374,797 shares during the period. First Interstate Bank lifted its position in PDC Energy by 120.8% during the fourth quarter. First Interstate Bank now owns 5,830 shares of the energy producer’s stock valued at $300,000 after purchasing an additional 3,190 shares during the period. Rhumbline Advisers lifted its position in PDC Energy by 15.6% during the fourth quarter. Rhumbline Advisers now owns 162,421 shares of the energy producer’s stock valued at $8,371,000 after purchasing an additional 21,945 shares during the period. Deutsche Bank AG lifted its position in PDC Energy by 66.9% during the fourth quarter. Deutsche Bank AG now owns 248,366 shares of the energy producer’s stock valued at $12,798,000 after purchasing an additional 99,554 shares during the period. Finally, Swiss National Bank lifted its position in PDC Energy by 1.8% during the fourth quarter. Swiss National Bank now owns 94,366 shares of the energy producer’s stock valued at $4,864,000 after purchasing an additional 1,700 shares during the period.

A number of research analysts recently weighed in on PDCE shares. BidaskClub downgraded shares of PDC Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. SunTrust Banks increased their price objective on shares of PDC Energy to $62.00 and gave the company a “buy” rating in a research report on Friday, May 4th. Goldman Sachs upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, April 12th. Zacks Investment Research upgraded shares of PDC Energy from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, February 9th. Finally, Jefferies Group set a $71.00 price target on shares of PDC Energy and gave the stock a “buy” rating in a research report on Monday, March 19th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $67.06.

In other news, COO Scott J. Reasoner sold 1,000 shares of the stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the completion of the sale, the chief operating officer now directly owns 75,720 shares of the company’s stock, valued at $4,164,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lance Lauck sold 500 shares of the stock in a transaction on Friday, April 13th. The stock was sold at an average price of $52.50, for a total transaction of $26,250.00. Following the completion of the sale, the executive vice president now directly owns 98,728 shares of the company’s stock, valued at $5,183,220. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,614 shares of company stock valued at $1,747,432. Corporate insiders own 1.00% of the company’s stock.

Shares of PDC Energy opened at $63.58 on Friday, according to MarketBeat. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $3.97 billion, a PE ratio of -18.27, a PEG ratio of 0.65 and a beta of 0.67. PDC Energy has a 1 year low of $59.69 and a 1 year high of $60.30.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Monday, February 26th. The energy producer reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The firm had revenue of $189.52 million during the quarter, compared to analysts’ expectations of $263.28 million. PDC Energy had a negative net margin of 19.50% and a positive return on equity of 1.47%. research analysts predict that PDC Energy will post 2.39 earnings per share for the current fiscal year.

About PDC Energy

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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Institutional Ownership by Quarter for PDC Energy (NASDAQ:PDCE)

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