US Bancorp DE raised its stake in shares of PDC Energy, Inc. (NASDAQ:PDCE) by 3.4% during the first quarter, Holdings Channel reports. The institutional investor owned 3,903 shares of the energy producer’s stock after buying an additional 127 shares during the period. US Bancorp DE’s holdings in PDC Energy were worth $243,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. NWQ Investment Management Company LLC acquired a new stake in PDC Energy during the fourth quarter valued at approximately $56,649,000. FMR LLC raised its stake in PDC Energy by 6.6% in the fourth quarter. FMR LLC now owns 7,100,357 shares of the energy producer’s stock valued at $515,344,000 after buying an additional 441,740 shares in the last quarter. Norges Bank acquired a new stake in PDC Energy during the fourth quarter valued at approximately $29,970,000. Caymus Capital Partners L.P. raised its stake in PDC Energy by 25.0% in the first quarter. Caymus Capital Partners L.P. now owns 889,200 shares of the energy producer’s stock valued at $55,442,000 after buying an additional 178,100 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in PDC Energy during the first quarter valued at approximately $5,824,000.
Shares of PDC Energy, Inc. (NASDAQ PDCE) opened at 45.52 on Friday. PDC Energy, Inc. has a 52-week low of $44.01 and a 52-week high of $84.88. The firm’s market cap is $2.97 billion. The stock has a 50 day moving average of $51.05 and a 200 day moving average of $65.15.
PDC Energy (NASDAQ:PDCE) last posted its earnings results on Friday, May 5th. The energy producer reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.03. The business had revenue of $273.70 million during the quarter, compared to analyst estimates of $182.05 million. PDC Energy had a negative net margin of 22.67% and a negative return on equity of 0.20%. PDC Energy’s revenue was up 201.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.89) earnings per share. Equities analysts predict that PDC Energy, Inc. will post $0.30 EPS for the current fiscal year.
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Several equities analysts recently issued reports on the stock. Williams Capital reduced their price objective on shares of PDC Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Friday, April 21st. Zacks Investment Research downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday, April 14th. Scotiabank set a $75.00 price objective on shares of PDC Energy and gave the company a “hold” rating in a research note on Monday, March 27th. Barclays PLC reissued a “buy” rating and set a $80.00 price objective (down previously from $89.00) on shares of PDC Energy in a research note on Thursday, April 20th. Finally, BMO Capital Markets reissued a “hold” rating and set a $70.00 price objective on shares of PDC Energy in a research note on Sunday, March 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $78.67.
In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 1,700 shares of PDC Energy stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $62.27, for a total value of $105,859.00. Following the completion of the sale, the chief executive officer now directly owns 176,681 shares in the company, valued at $11,001,925.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph E. Casabona sold 1,000 shares of PDC Energy stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $63.29, for a total transaction of $63,290.00. Following the completion of the sale, the director now owns 30,456 shares of the company’s stock, valued at $1,927,560.24. The disclosure for this sale can be found here. 1.80% of the stock is 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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