Whittier Trust Co. increased its stake in PDC Energy, Inc. (NASDAQ:PDCE) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,775 shares of the energy producer’s stock after buying an additional 471 shares during the period. Whittier Trust Co.’s holdings in PDC Energy were worth $852,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in PDC Energy during the fourth quarter valued at about $1,404,000. Guggenheim Capital LLC raised its position in PDC Energy by 19.0% in the fourth quarter. Guggenheim Capital LLC now owns 10,924 shares of the energy producer’s stock valued at $792,000 after buying an additional 1,748 shares in the last quarter. Norges Bank bought a new position in PDC Energy during the fourth quarter valued at about $29,970,000. Quadrature Capital Ltd raised its position in PDC Energy by 315.4% in the fourth quarter. Quadrature Capital Ltd now owns 21,532 shares of the energy producer’s stock valued at $1,563,000 after buying an additional 16,348 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in PDC Energy by 22.5% in the fourth quarter. Teachers Advisors LLC now owns 101,701 shares of the energy producer’s stock valued at $7,381,000 after buying an additional 18,675 shares in the last quarter.
PDC Energy, Inc. (NASDAQ:PDCE) opened at 40.21 on Thursday. The firm’s 50-day moving average price is $44.08 and its 200-day moving average price is $56.81. The company’s market cap is $2.62 billion. PDC Energy, Inc. has a one year low of $38.54 and a one year high of $84.88.
PDC Energy (NASDAQ:PDCE) last issued its earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. The business had revenue of $275.20 million during the quarter, compared to analysts’ expectations of $218.90 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was up 1269.2% compared to the same quarter last year. On average, equities research analysts forecast that PDC Energy, Inc. will post $0.04 earnings per share for the current fiscal year.
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Several research analysts have issued reports on PDCE shares. Zacks Investment Research lowered PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday, April 14th. Barclays PLC reiterated a “buy” rating and set a $80.00 price objective (down from $89.00) on shares of PDC Energy in a research note on Thursday, April 20th. Williams Capital lowered their target price on PDC Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, April 21st. Stifel Nicolaus restated a “buy” rating and issued a $82.00 target price on shares of PDC Energy in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $82.00 target price on shares of PDC Energy in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $71.86.
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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