Moody Aldrich Partners LLC increased its stake in PDC Energy Inc. (NASDAQ:PDCE) by 149.9% during the second quarter, Holdings Channel reports. The institutional investor owned 20,870 shares of the company’s stock after buying an additional 12,520 shares during the period. Moody Aldrich Partners LLC’s holdings in PDC Energy were worth $1,202,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in PDCE. Norges Bank bought a new stake in PDC Energy during the fourth quarter valued at about $12,507,000. Texas Permanent School Fund raised its position in PDC Energy by 9.2% in the first quarter. Texas Permanent School Fund now owns 36,227 shares of the company’s stock valued at $2,154,000 after buying an additional 3,040 shares during the last quarter. Aperio Group LLC raised its position in PDC Energy by 5.8% in the first quarter. Aperio Group LLC now owns 12,329 shares of the company’s stock valued at $733,000 after buying an additional 673 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its position in PDC Energy by 70.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 23,400 shares of the company’s stock valued at $1,391,000 after buying an additional 9,700 shares during the last quarter. Finally, Virginia Retirement System acquired a new position in PDC Energy during the first quarter valued at approximately $386,000. 95.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of PDC Energy Inc. (NASDAQ:PDCE) traded down 2.59% during midday trading on Friday, hitting $65.02. 2,711,025 shares of the company were exchanged. PDC Energy Inc. has a one year low of $42.68 and a one year high of $71.00. The firm’s market cap is $3.03 billion. The company’s 50 day moving average price is $63.90 and its 200 day moving average price is $59.23.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.05. PDC Energy had a negative return on equity of 1.07% and a negative net margin of 40.23%. The business had revenue of $20.10 million for the quarter, compared to analyst estimates of $160.18 million. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was down 60.6% compared to the same quarter last year. Equities analysts expect that PDC Energy Inc. will post ($0.33) EPS for the current year.
Several research analysts recently commented on PDCE shares. KLR Group restated a “buy” rating and issued a $80.00 price target (down previously from $87.00) on shares of PDC Energy in a report on Monday, September 12th. Royal Bank Of Canada raised their price target on shares of PDC Energy from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, August 10th. Wells Fargo & Co. restated a “market perform” rating on shares of PDC Energy in a report on Wednesday, July 6th. Credit Suisse Group AG restated a “buy” rating and issued a $83.00 price target on shares of PDC Energy in a report on Thursday, August 25th. Finally, BMO Capital Markets lowered shares of PDC Energy from an “outperform” rating to a “market perform” rating and set a $58.00 price target on the stock. in a report on Monday, August 8th. Eight analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. PDC Energy has a consensus rating of “Buy” and an average price target of $72.67.
In related news, Director David C. Parke sold 500 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $61.84, for a total value of $30,920.00. Following the completion of the transaction, the director now directly owns 17,717 shares in the company, valued at $1,095,619.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.
PDC Energy Company Profile
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
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