PDC Energy Inc (PDCE) is Oslo Asset Management AS’s 6th Largest Position

Oslo Asset Management AS boosted its stake in PDC Energy Inc (NASDAQ:PDCE) by 66.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 982,981 shares of the energy producer’s stock after purchasing an additional 391,012 shares during the quarter. PDC Energy comprises 8.5% of Oslo Asset Management AS’s portfolio, making the stock its 6th largest position. Oslo Asset Management AS owned about 1.49% of PDC Energy worth $29,251,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund purchased a new stake in PDC Energy during the fourth quarter worth approximately $25,000. Dubuque Bank & Trust Co. acquired a new position in shares of PDC Energy during the fourth quarter worth $26,000. MHI Funds LLC acquired a new position in shares of PDC Energy during the fourth quarter worth $143,000. Teton Advisors Inc. lifted its position in shares of PDC Energy by 8.5% during the fourth quarter. Teton Advisors Inc. now owns 7,700 shares of the energy producer’s stock worth $229,000 after purchasing an additional 600 shares in the last quarter. Finally, GWM Advisors LLC acquired a new position in shares of PDC Energy during the third quarter worth $239,000.

A number of research analysts have recently commented on PDCE shares. Williams Capital reissued a “buy” rating and set a $62.00 target price on shares of PDC Energy in a research report on Wednesday, December 12th. BidaskClub cut shares of PDC Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. BMO Capital Markets raised shares of PDC Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Citigroup started coverage on shares of PDC Energy in a research report on Wednesday, January 23rd. They set a “buy” rating and a $45.00 target price on the stock. Finally, Bank of America cut shares of PDC Energy from a “buy” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research report on Friday, January 4th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $62.45.

PDCE traded up $0.98 during trading on Wednesday, hitting $34.62. The company had a trading volume of 9,815 shares, compared to its average volume of 1,264,985. The stock has a market capitalization of $2.04 billion, a PE ratio of -9.91, a P/E/G ratio of 0.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.38 and a quick ratio of 0.38. PDC Energy Inc has a 1-year low of $26.59 and a 1-year high of $66.20.

In related news, Director Anthony J. Crisafio sold 1,500 shares of the company’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $34.21, for a total value of $51,315.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

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PDC Energy 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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