William Blair Investment Management LLC lessened its holdings in shares of PDC Energy Inc (NASDAQ:PDCE) by 28.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 351,032 shares of the energy producer’s stock after selling 142,415 shares during the quarter. William Blair Investment Management LLC owned approximately 0.57% of PDC Energy worth $9,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of PDCE. Barclays PLC lifted its holdings in PDC Energy by 1,058.2% during the third quarter. Barclays PLC now owns 1,647,999 shares of the energy producer’s stock valued at $45,732,000 after purchasing an additional 1,505,711 shares in the last quarter. Millennium Management LLC purchased a new position in shares of PDC Energy during the 3rd quarter valued at $25,886,000. State Street Corp lifted its stake in shares of PDC Energy by 30.6% during the 4th quarter. State Street Corp now owns 3,839,025 shares of the energy producer’s stock valued at $100,467,000 after buying an additional 899,129 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of PDC Energy by 3,510.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 434,040 shares of the energy producer’s stock valued at $12,045,000 after buying an additional 422,018 shares in the last quarter. Finally, Monarch Partners Asset Management LLC bought a new position in PDC Energy in the 4th quarter worth $3,948,000.
Shares of NASDAQ PDCE traded down $0.21 during mid-day trading on Thursday, hitting $6.96. 303,233 shares of the company’s stock traded hands, compared to its average volume of 2,180,531. The company’s 50-day moving average is $19.90 and its two-hundred day moving average is $24.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $856.03 million, a P/E ratio of -7.75, a PEG ratio of 0.13 and a beta of 1.23. PDC Energy Inc has a 1 year low of $6.68 and a 1 year high of $47.29.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Wednesday, February 26th. The energy producer reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.24. PDC Energy had a positive return on equity of 2.25% and a negative net margin of 4.90%. The company had revenue of $265.02 million during the quarter, compared to analyst estimates of $333.35 million. Equities analysts anticipate that PDC Energy Inc will post 2.71 EPS for the current fiscal year.
In other news, Director Mark E. Ellis bought 10,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was purchased at an average price of $17.53 per share, for a total transaction of $175,300.00. Also, Director Anthony J. Crisafio sold 3,850 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $24.83, for a total transaction of $95,595.50. Following the completion of the sale, the director now owns 18,280 shares of the company’s stock, valued at approximately $453,892.40. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
A number of equities research analysts have commented on the company. BidaskClub cut PDC Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, February 29th. MKM Partners lowered their price target on PDC Energy from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Bank of America downgraded PDC Energy from a “buy” rating to a “neutral” rating in a research note on Monday. KeyCorp cut their price objective on shares of PDC Energy from $41.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, TheStreet cut shares of PDC Energy from a “c” rating to a “d” rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $41.56.
PDC Energy 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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.
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