PDC Energy, Inc. (PDCE) Position Cut by Cipher Capital LP

Cipher Capital LP trimmed its stake in PDC Energy, Inc. (NASDAQ:PDCE) by 79.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,725 shares of the energy producer’s stock after selling 29,524 shares during the quarter. Cipher Capital LP’s holdings in PDC Energy were worth $333,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in PDC Energy by 47,702.8% during the first quarter. BlackRock Inc. now owns 6,890,772 shares of the energy producer’s stock worth $429,640,000 after buying an additional 6,876,357 shares during the period. UBS Group AG grew its stake in PDC Energy by 101.1% during the first quarter. UBS Group AG now owns 14,621 shares of the energy producer’s stock worth $912,000 after buying an additional 1,395,552 shares during the period. Causeway Capital Management LLC grew its stake in PDC Energy by 54.1% during the first quarter. Causeway Capital Management LLC now owns 3,287,928 shares of the energy producer’s stock worth $234,496,000 after buying an additional 1,154,136 shares during the period. Victory Capital Management Inc. grew its stake in PDC Energy by 28.7% during the first quarter. Victory Capital Management Inc. now owns 2,750,907 shares of the energy producer’s stock worth $171,519,000 after buying an additional 613,674 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in PDC Energy by 17.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,385,502 shares of the energy producer’s stock worth $211,083,000 after buying an additional 501,484 shares during the period.

Shares of PDC Energy, Inc. (NASDAQ:PDCE) opened at 39.87 on Monday. The company has a 50-day moving average of $41.57 and a 200 day moving average of $51.72. PDC Energy, Inc. has a 12-month low of $36.74 and a 12-month high of $84.88. The firm has a market capitalization of $2.61 billion, a PE ratio of 282.77 and a beta of 0.83.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Tuesday, August 8th. The energy producer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.20. The business had revenue of $275.20 million for the quarter, compared to the consensus estimate of $218.90 million. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. PDC Energy’s quarterly revenue was up 1269.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) earnings per share. On average, analysts predict that PDC Energy, Inc. will post $0.20 EPS for the current year.

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Several equities research analysts have issued reports on PDCE shares. Bank of America Corporation started coverage on shares of PDC Energy in a research note on Wednesday, July 19th. They set a “buy” rating and a $60.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and set a $82.00 price objective on shares of PDC Energy in a research note on Friday, May 26th. Williams Capital set a $67.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Mizuho upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $55.00 in a research note on Wednesday, August 9th. Finally, Seaport Global Securities upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $51.00 in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $71.36.

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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Institutional Ownership by Quarter for PDC Energy (NASDAQ:PDCE)

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