Nokomis Capital L.L.C. Lowers Position in PDC Energy Inc (PDCE)

Nokomis Capital L.L.C. lessened its stake in PDC Energy Inc (NASDAQ:PDCE) by 22.3% during the first quarter, HoldingsChannel.com reports. The firm owned 231,992 shares of the energy producer’s stock after selling 66,591 shares during the period. PDC Energy comprises approximately 2.2% of Nokomis Capital L.L.C.’s portfolio, making the stock its 14th biggest holding. Nokomis Capital L.L.C.’s holdings in PDC Energy were worth $11,375,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Glen Harbor Capital Management LLC raised its holdings in PDC Energy by 12.6% during the 1st quarter. Glen Harbor Capital Management LLC now owns 8,232 shares of the energy producer’s stock valued at $404,000 after acquiring an additional 924 shares during the period. Profund Advisors LLC raised its holdings in PDC Energy by 7.4% during the 1st quarter. Profund Advisors LLC now owns 13,846 shares of the energy producer’s stock valued at $679,000 after acquiring an additional 953 shares during the period. Meadow Creek Investment Management LLC raised its holdings in PDC Energy by 20.8% during the 4th quarter. Meadow Creek Investment Management LLC now owns 5,742 shares of the energy producer’s stock valued at $296,000 after acquiring an additional 990 shares during the period. Whittier Trust Co. raised its holdings in PDC Energy by 5.2% during the 4th quarter. Whittier Trust Co. now owns 21,113 shares of the energy producer’s stock valued at $1,088,000 after acquiring an additional 1,053 shares during the period. Finally, Dubuque Bank & Trust Co. raised its holdings in PDC Energy by 31.8% during the 1st quarter. Dubuque Bank & Trust Co. now owns 4,469 shares of the energy producer’s stock valued at $219,000 after acquiring an additional 1,077 shares during the period.

A number of equities research analysts have issued reports on PDCE shares. Stifel Nicolaus set a $83.00 target price on shares of PDC Energy and gave the company a “buy” rating in a report on Tuesday, February 27th. Williams Capital reaffirmed a “buy” rating and issued a $76.00 price target (up previously from $69.00) on shares of PDC Energy in a report on Tuesday, February 27th. Tudor Pickering raised shares of PDC Energy from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Bank of America upped their price target on shares of PDC Energy from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Finally, BidaskClub raised shares of PDC Energy from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $67.35.

Shares of PDC Energy opened at $60.45 on Thursday, Marketbeat.com reports. PDC Energy Inc has a 52-week low of $36.74 and a 52-week high of $66.20. The firm has a market capitalization of $3.99 billion, a P/E ratio of -17.37, a P/E/G ratio of 0.71 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.46.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Wednesday, May 2nd. The energy producer reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.34). PDC Energy had a negative net margin of 19.50% and a positive return on equity of 1.47%. The business had revenue of $260.60 million for the quarter, compared to analysts’ expectations of $270.04 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was down 4.8% on a year-over-year basis. sell-side analysts predict that PDC Energy Inc will post 2.22 EPS for the current year.

In other PDC Energy news, insider Barton R. Brookman, Jr. sold 1,500 shares of the company’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $48.92, for a total transaction of $73,380.00. Following the completion of the sale, the insider now directly owns 211,026 shares in the company, valued at $10,323,391.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Scott J. Reasoner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, April 17th. The shares were sold at an average price of $55.00, for a total transaction of $55,000.00. Following the sale, the chief operating officer now owns 75,720 shares of the company’s stock, valued at $4,164,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,545 shares of company stock valued at $1,155,768. Company insiders own 1.00% of the company’s stock.

PDC Energy Company Profile

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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