Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in PDC Energy Inc (NASDAQ:PDCE) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,100 shares of the energy producer’s stock, valued at approximately $397,000.
A number of other institutional investors also recently modified their holdings of PDCE. Mangrove Partners purchased a new position in PDC Energy in the fourth quarter valued at about $46,347,000. NWQ Investment Management Company LLC increased its holdings in PDC Energy by 77.8% in the fourth quarter. NWQ Investment Management Company LLC now owns 1,662,049 shares of the energy producer’s stock valued at $85,662,000 after buying an additional 727,517 shares in the last quarter. Earnest Partners LLC increased its holdings in PDC Energy by 45.0% in the fourth quarter. Earnest Partners LLC now owns 1,343,663 shares of the energy producer’s stock valued at $69,252,000 after buying an additional 416,711 shares in the last quarter. BlackRock Inc. increased its holdings in PDC Energy by 4.5% in the fourth quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock valued at $445,509,000 after buying an additional 374,797 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in PDC Energy by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,483,300 shares of the energy producer’s stock valued at $219,816,000 after buying an additional 202,845 shares in the last quarter.
PDCE has been the subject of a number of research analyst reports. BidaskClub raised shares of PDC Energy from a “sell” rating to a “hold” rating in a report on Wednesday, April 18th. SunTrust Banks increased their target price on shares of PDC Energy to $62.00 and gave the company a “buy” rating in a report on Friday, May 4th. Goldman Sachs Group raised shares of PDC Energy from a “neutral” rating to a “buy” rating in a report on Thursday, April 12th. Stifel Nicolaus set a $95.00 target price on shares of PDC Energy and gave the company a “buy” rating in a report on Wednesday, March 28th. Finally, Jefferies Financial Group set a $71.00 target price on shares of PDC Energy and gave the company a “buy” rating in a report on Monday, March 19th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. PDC Energy presently has an average rating of “Buy” and an average target price of $67.35.
Shares of PDC Energy opened at $61.19 on Friday, according to Marketbeat Ratings. The company has a market cap of $4.04 billion, a PE ratio of -17.58, a price-to-earnings-growth ratio of 0.73 and a beta of 0.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.54. PDC Energy Inc has a 1-year low of $36.74 and a 1-year high of $66.20.
PDC Energy (NASDAQ:PDCE) last released its earnings results on Wednesday, May 2nd. The energy producer reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.34). The firm had revenue of $260.60 million during the quarter, compared to analysts’ expectations of $270.04 million. PDC Energy had a positive return on equity of 1.47% and a negative net margin of 19.50%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share. sell-side analysts expect that PDC Energy Inc will post 2.17 earnings per share for the current fiscal year.
In other PDC Energy news, insider Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $48.92, for a total value of $73,380.00. Following the completion of the sale, the insider now directly owns 211,026 shares of the company’s stock, valued at approximately $10,323,391.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry F. Mazza sold 4,000 shares of PDC Energy stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $61.00, for a total transaction of $244,000.00. The disclosure for this sale can be found here. Insiders sold a total of 19,545 shares of company stock valued at $1,155,768 over the last ninety days. 1.00% of the stock is owned by corporate insiders.
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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