Texas Permanent School Fund raised its stake in PDC Energy Inc. (NASDAQ:PDCE) by 20.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,762 shares of the company’s stock after buying an additional 7,346 shares during the period. Texas Permanent School Fund’s holdings in PDC Energy were worth $2,868,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. First Mercantile Trust Co. boosted its position in PDC Energy by 61.7% in the third quarter. First Mercantile Trust Co. now owns 1,730 shares of the company’s stock valued at $116,000 after buying an additional 660 shares during the period. Howe & Rusling Inc. boosted its position in PDC Energy by 10.4% in the second quarter. Howe & Rusling Inc. now owns 1,749 shares of the company’s stock valued at $101,000 after buying an additional 165 shares during the period. Integrated Investment Consultants LLC boosted its position in PDC Energy by 27.8% in the third quarter. Integrated Investment Consultants LLC now owns 1,984 shares of the company’s stock valued at $128,000 after buying an additional 431 shares during the period. Amalgamated Bank boosted its position in PDC Energy by 18.0% in the second quarter. Amalgamated Bank now owns 5,077 shares of the company’s stock valued at $311,000 after buying an additional 776 shares during the period. Finally, BlueMountain Capital Management LLC purchased a new position in PDC Energy during the second quarter valued at approximately $302,000.
PDC Energy Inc. (NASDAQ:PDCE) traded up 1.06% during midday trading on Thursday, hitting $74.68. 423,471 shares of the company traded hands. The stock has a 50 day moving average price of $76.18 and a 200-day moving average price of $65.52. The company’s market cap is $4.16 billion. PDC Energy Inc. has a 12-month low of $42.67 and a 12-month high of $84.88.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.11. PDC Energy had a negative return on equity of 2.31% and a negative net margin of 42.23%. The business earned $164 million during the quarter, compared to the consensus estimate of $178.12 million. PDC Energy’s revenue was down 29.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.89) earnings per share. Analysts expect that PDC Energy Inc. will post ($0.42) EPS for the current year.
Several brokerages have recently issued reports on PDCE. Mizuho began coverage on shares of PDC Energy in a report on Wednesday, October 5th. They issued a “neutral” rating and a $69.00 target price for the company. Goldman Sachs Group Inc. cut shares of PDC Energy from a “buy” rating to a “neutral” rating and upped their target price for the company from $82.00 to $88.00 in a report on Friday, December 16th. KLR Group cut shares of PDC Energy from a “buy” rating to an “accumulate” rating and set a $81.00 target price for the company. in a report on Monday, December 5th. Nomura restated a “hold” rating and issued a $66.00 target price on shares of PDC Energy in a report on Monday, November 7th. Finally, Canaccord Genuity set a $77.00 target price on shares of PDC Energy and gave the company a “buy” rating in a report on Monday, December 5th. Twelve analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $75.21.
In other PDC Energy news, Director Kimberly Luff Wakim sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $69.10, for a total transaction of $138,200.00. Following the sale, the director now owns 9,182 shares in the company, valued at approximately $634,476.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Daniel Willson Amidon sold 5,441 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $68.73, for a total value of $373,959.93. Following the sale, the vice president now owns 66,071 shares in the company, valued at approximately $4,541,059.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,591 shares worth $1,493,602.93. 1.80% of the stock is currently owned by insiders.
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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