Quantitative Systematic Strategies LLC Has $295,000 Position in PDC Energy Inc (PDCE)

Quantitative Systematic Strategies LLC reduced its holdings in PDC Energy Inc (NASDAQ:PDCE) by 78.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,729 shares of the energy producer’s stock after selling 21,260 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in PDC Energy were worth $295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MHI Funds LLC acquired a new position in PDC Energy in the fourth quarter valued at approximately $138,000. Flinton Capital Management LLC lifted its holdings in PDC Energy by 67.0% in the second quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after buying an additional 1,168 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PDC Energy by 50.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after buying an additional 1,201 shares during the period. Connable Office Inc. acquired a new position in PDC Energy in the third quarter valued at approximately $202,000. Finally, World Asset Management Inc acquired a new position in PDC Energy in the third quarter valued at approximately $216,000.

Shares of PDC Energy Inc (NASDAQ:PDCE) opened at $46.32 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. PDC Energy Inc has a 12-month low of $36.74 and a 12-month high of $74.00. The stock has a market cap of $3,236.33, a price-to-earnings ratio of 125.97 and a beta of 0.68.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Monday, November 6th. The energy producer reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. PDC Energy had a negative net margin of 29.31% and a positive return on equity of 0.94%. The company had revenue of $232.73 million during the quarter, compared to the consensus estimate of $234.38 million. research analysts expect that PDC Energy Inc will post -3.5 EPS for the current fiscal year.

In other news, COO Scott J. Reasoner sold 1,000 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total transaction of $55,830.00. Following the completion of the sale, the chief operating officer now owns 62,338 shares of the company’s stock, valued at $3,480,330.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $52.08, for a total transaction of $78,120.00. Following the sale, the chief executive officer now directly owns 168,101 shares of the company’s stock, valued at approximately $8,754,700.08. The disclosure for this sale can be found here. Insiders have sold 7,200 shares of company stock valued at $386,751 in the last three months. 0.91% of the stock is owned by insiders.

PDCE has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $58.00 target price on shares of PDC Energy in a research note on Thursday, January 11th. Imperial Capital reaffirmed an “outperform” rating and issued a $87.00 target price (up previously from $73.00) on shares of PDC Energy in a research note on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $81.00 target price (down previously from $82.00) on shares of PDC Energy in a research note on Tuesday, November 7th. Mizuho reaffirmed a “buy” rating and issued a $66.00 target price on shares of PDC Energy in a research note on Wednesday, January 17th. Finally, SunTrust Banks set a $55.00 target price on shares of PDC Energy and gave the company a “buy” rating in a research note on Sunday, October 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $67.05.

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About PDC Energy

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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