Dynamic Technology Lab Private Ltd Invests $2.59 Million in PDC Energy Inc (PDCE)

Dynamic Technology Lab Private Ltd acquired a new stake in PDC Energy Inc (NASDAQ:PDCE) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 52,757 shares of the energy producer’s stock, valued at approximately $2,587,000. PDC Energy comprises 0.2% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 27th biggest position. Dynamic Technology Lab Private Ltd owned about 0.08% of PDC Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of PDC Energy by 4.5% in the 4th quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock valued at $445,509,000 after acquiring an additional 374,797 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of PDC Energy by 15.6% in the 4th quarter. Rhumbline Advisers now owns 162,421 shares of the energy producer’s stock valued at $8,371,000 after acquiring an additional 21,945 shares during the last quarter. First Interstate Bank increased its holdings in shares of PDC Energy by 120.8% in the 4th quarter. First Interstate Bank now owns 5,830 shares of the energy producer’s stock valued at $300,000 after acquiring an additional 3,190 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of PDC Energy by 66.9% in the 4th quarter. Deutsche Bank AG now owns 248,366 shares of the energy producer’s stock valued at $12,798,000 after acquiring an additional 99,554 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of PDC Energy by 1.8% in the 4th quarter. Swiss National Bank now owns 94,366 shares of the energy producer’s stock valued at $4,864,000 after acquiring an additional 1,700 shares during the last quarter.

In other PDC Energy news, SVP Daniel Willson Amidon sold 8,045 shares of the stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $63.07, for a total transaction of $507,398.15. Following the completion of the sale, the senior vice president now directly owns 58,566 shares of the company’s stock, valued at approximately $3,693,757.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $48.92, for a total value of $73,380.00. Following the sale, the insider now directly owns 211,026 shares of the company’s stock, valued at $10,323,391.92. The disclosure for this sale can be found here. Insiders have sold a total of 19,545 shares of company stock valued at $1,155,768 over the last ninety days. 1.00% of the stock is owned by insiders.

Shares of PDC Energy opened at $60.43 on Thursday, according to Marketbeat Ratings. The stock has a market capitalization of $3.90 billion, a P/E ratio of -17.36, a PEG ratio of 0.69 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.46. PDC Energy Inc has a 52-week low of $36.74 and a 52-week high of $66.20.

PDC Energy (NASDAQ:PDCE) last announced its earnings results on Wednesday, May 2nd. The energy producer reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.34). The firm had revenue of $260.60 million during the quarter, compared to analyst estimates of $270.04 million. PDC Energy had a negative net margin of 19.50% and a positive return on equity of 1.47%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share. research analysts forecast that PDC Energy Inc will post 2.24 earnings per share for the current fiscal year.

A number of research firms have recently commented on PDCE. ValuEngine upgraded PDC Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd. BidaskClub downgraded PDC Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 16th. Stifel Nicolaus dropped their price objective on PDC Energy from $91.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, May 3rd. Williams Capital set a $79.00 price objective on PDC Energy and gave the company a “buy” rating in a report on Thursday, May 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $70.00 price objective on shares of PDC Energy in a report on Thursday, April 26th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $67.35.

PDC Energy Company Profile

PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.

Want to see what other hedge funds are holding PDCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDC Energy Inc (NASDAQ:PDCE).

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

Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply