Chartwell Investment Partners LLC Acquires 10,511 Shares of PDC Energy Inc (NASDAQ:PDCE)

Chartwell Investment Partners LLC lifted its holdings in PDC Energy Inc (NASDAQ:PDCE) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 283,119 shares of the energy producer’s stock after acquiring an additional 10,511 shares during the period. Chartwell Investment Partners LLC owned 0.28% of PDC Energy worth $3,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its position in PDC Energy by 56.7% in the first quarter. State Street Corp now owns 6,017,139 shares of the energy producer’s stock worth $37,366,000 after buying an additional 2,178,114 shares during the last quarter. Weiss Multi Strategy Advisers LLC boosted its stake in shares of PDC Energy by 355.6% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 1,130,000 shares of the energy producer’s stock worth $7,017,000 after purchasing an additional 882,001 shares during the period. Norges Bank bought a new position in PDC Energy during the 4th quarter valued at about $19,001,000. Fisher Asset Management LLC purchased a new stake in PDC Energy in the 1st quarter worth about $4,115,000. Finally, Geode Capital Management LLC lifted its stake in PDC Energy by 67.0% in the first quarter. Geode Capital Management LLC now owns 1,445,493 shares of the energy producer’s stock worth $8,976,000 after purchasing an additional 579,858 shares during the last quarter.

Shares of NASDAQ PDCE opened at $14.26 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.42 billion, a PE ratio of -3.57 and a beta of 2.88. The stock’s fifty day simple moving average is $13.99 and its two-hundred day simple moving average is $14.48. PDC Energy Inc has a 12-month low of $4.51 and a 12-month high of $36.49.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Thursday, May 7th. The energy producer reported ($8.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($8.14). PDC Energy had a negative return on equity of 2.28% and a negative net margin of 22.57%. The company had revenue of $757.03 million for the quarter, compared to analysts’ expectations of $386.16 million. During the same quarter last year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was up 462.8% compared to the same quarter last year. On average, equities analysts predict that PDC Energy Inc will post -0.71 earnings per share for the current fiscal year.

In other news, Director Jeffrey C. Swoveland acquired 7,135 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $10.51 per share, with a total value of $74,988.85. Following the transaction, the director now directly owns 26,901 shares in the company, valued at $282,729.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by company insiders.

Several equities research analysts have recently weighed in on the company. SunTrust Banks increased their price target on PDC Energy from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research upgraded PDC Energy from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Saturday, July 25th. ValuEngine lowered shares of PDC Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 3rd. Stifel Nicolaus raised shares of PDC Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from $14.00 to $21.00 in a research note on Thursday, May 21st. Finally, KeyCorp decreased their price objective on shares of PDC Energy from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $27.93.

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

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