Arizona State Retirement System boosted its position in PDC Energy Inc (NASDAQ:PDCE) by 0.3% in the first quarter, HoldingsChannel reports. The firm owned 102,042 shares of the energy producer’s stock after purchasing an additional 280 shares during the quarter. Arizona State Retirement System’s holdings in PDC Energy were worth $4,151,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue increased its stake in shares of PDC Energy by 1.5% in the fourth quarter. State of Alaska Department of Revenue now owns 22,090 shares of the energy producer’s stock valued at $657,000 after buying an additional 325 shares during the period. Piedmont Investment Advisors Inc. increased its stake in shares of PDC Energy by 3.3% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 15,729 shares of the energy producer’s stock valued at $468,000 after buying an additional 504 shares during the period. Versant Capital Management Inc increased its stake in shares of PDC Energy by 47.0% in the first quarter. Versant Capital Management Inc now owns 1,627 shares of the energy producer’s stock valued at $66,000 after buying an additional 520 shares during the period. Legal & General Group Plc increased its stake in shares of PDC Energy by 0.3% in the fourth quarter. Legal & General Group Plc now owns 166,815 shares of the energy producer’s stock valued at $4,928,000 after buying an additional 521 shares during the period. Finally, Teton Advisors Inc. increased its stake in shares of PDC Energy by 8.5% in the fourth quarter. Teton Advisors Inc. now owns 7,700 shares of the energy producer’s stock valued at $229,000 after buying an additional 600 shares during the period.
PDCE has been the subject of several recent research reports. Zacks Investment Research raised PDC Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Ifs Securities reissued a “market perform” rating on shares of PDC Energy in a research note on Sunday, February 3rd. BidaskClub raised PDC Energy from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. ValuEngine cut PDC Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, February 2nd. Finally, Capital One Financial raised PDC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $61.33.
NASDAQ PDCE opened at $38.22 on Tuesday. PDC Energy Inc has a one year low of $26.59 and a one year high of $66.20. The company has a market cap of $2.57 billion, a P/E ratio of -12.91, a price-to-earnings-growth ratio of 0.33 and a beta of 0.78. The company has a quick ratio of 0.62, a current ratio of 0.43 and a debt-to-equity ratio of 0.53.
PDC Energy (NASDAQ:PDCE) last released its earnings results on Wednesday, May 1st. The energy producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.29). PDC Energy had a negative return on equity of 2.50% and a negative net margin of 7.38%. The business had revenue of $134.50 million for the quarter, compared to analyst estimates of $325.83 million. During the same period in the prior year, the business earned $0.05 EPS. The company’s revenue for the quarter was down 48.4% on a year-over-year basis. As a group, research analysts predict that PDC Energy Inc will post 3.14 EPS for the current fiscal year.
In other PDC Energy news, insider Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $45.10, for a total value of $67,650.00. Following the transaction, the insider now owns 248,687 shares in the company, valued at $11,215,783.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Scott J. Reasoner sold 1,300 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $40.00, for a total value of $52,000.00. Following the completion of the transaction, the chief operating officer now owns 91,827 shares in the company, valued at approximately $3,673,080. The disclosure for this sale can be found here. Insiders have sold 6,514 shares of company stock valued at $284,708 in the last ninety days. 1.00% of the stock is currently owned by insiders.
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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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