Quantitative Systematic Strategies LLC Takes Position in PDC Energy Inc (PDCE)

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Quantitative Systematic Strategies LLC acquired a new stake in PDC Energy Inc (NASDAQ:PDCE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,121 shares of the energy producer’s stock, valued at approximately $914,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rothschild Asset Management Inc. grew its position in shares of PDC Energy by 44.8% during the second quarter. Rothschild Asset Management Inc. now owns 700,470 shares of the energy producer’s stock worth $42,343,000 after buying an additional 216,876 shares in the last quarter. Monarch Partners Asset Management LLC boosted its holdings in PDC Energy by 2.0% in the second quarter. Monarch Partners Asset Management LLC now owns 317,770 shares of the energy producer’s stock valued at $19,209,000 after purchasing an additional 6,230 shares in the last quarter. SG Americas Securities LLC boosted its holdings in PDC Energy by 89.4% in the second quarter. SG Americas Securities LLC now owns 36,944 shares of the energy producer’s stock valued at $2,233,000 after purchasing an additional 17,438 shares in the last quarter. Connable Office Inc. acquired a new position in PDC Energy in the second quarter valued at approximately $321,000. Finally, Teacher Retirement System of Texas boosted its holdings in PDC Energy by 7.8% in the second quarter. Teacher Retirement System of Texas now owns 13,386 shares of the energy producer’s stock valued at $809,000 after purchasing an additional 974 shares in the last quarter.

In other news, insider Barton R. Brookman, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $60.91, for a total transaction of $91,365.00. Following the completion of the sale, the insider now owns 208,026 shares in the company, valued at $12,670,863.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David C. Parke sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $53.03, for a total value of $31,818.00. Following the sale, the director now owns 13,341 shares of the company’s stock, valued at approximately $707,473.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,100 shares of company stock valued at $730,663. 1.00% of the stock is owned by company insiders.

Shares of NASDAQ PDCE opened at $51.55 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.36 and a quick ratio of 0.36. PDC Energy Inc has a twelve month low of $36.74 and a twelve month high of $66.20. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of -14.81, a PEG ratio of 0.78 and a beta of 0.64.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Wednesday, August 8th. The energy producer reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). PDC Energy had a negative net margin of 43.37% and a positive return on equity of 2.52%. The firm had revenue of $212.53 million during the quarter, compared to analysts’ expectations of $308.73 million. During the same quarter in the prior year, the firm posted $0.63 EPS. PDC Energy’s quarterly revenue was down 22.8% compared to the same quarter last year. sell-side analysts anticipate that PDC Energy Inc will post 1.83 earnings per share for the current year.

PDCE has been the subject of a number of research analyst reports. Zacks Investment Research downgraded PDC Energy from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. BidaskClub downgraded PDC Energy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 3rd. TD Securities initiated coverage on PDC Energy in a report on Thursday, July 5th. They issued a “buy” rating and a $80.00 price target for the company. SunTrust Banks upped their price target on PDC Energy to $62.00 and gave the company a “buy” rating in a report on Friday, May 4th. Finally, ValuEngine raised PDC Energy from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $71.78.

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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