SCP Investment LP Takes Position in PDC Energy, Inc. (NASDAQ:PDCE)

SCP Investment LP acquired a new stake in PDC Energy, Inc. (NASDAQ:PDCE) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,800 shares of the energy producer’s stock, valued at approximately $234,000. PDC Energy comprises approximately 0.1% of SCP Investment LP’s portfolio, making the stock its 17th biggest position.

A number of other institutional investors have also made changes to their positions in PDCE. Parkside Financial Bank & Trust grew its position in PDC Energy by 142.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 925 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 543 shares during the last quarter. Arlington Partners LLC bought a new position in PDC Energy in the 1st quarter valued at $33,000. Captrust Financial Advisors grew its position in PDC Energy by 1,520.9% in the 4th quarter. Captrust Financial Advisors now owns 2,399 shares of the energy producer’s stock valued at $49,000 after acquiring an additional 2,251 shares during the last quarter. KBC Group NV bought a new position in PDC Energy in the 1st quarter valued at $49,000. Finally, Gradient Investments LLC grew its position in PDC Energy by 615.6% in the 1st quarter. Gradient Investments LLC now owns 2,841 shares of the energy producer’s stock valued at $98,000 after acquiring an additional 2,444 shares during the last quarter.

PDC Energy stock traded up $0.01 during midday trading on Friday, reaching $47.19. The company’s stock had a trading volume of 7,227 shares, compared to its average volume of 1,015,267. The stock’s 50-day simple moving average is $39.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. PDC Energy, Inc. has a 52-week low of $10.60 and a 52-week high of $47.99. The firm has a market capitalization of $4.59 billion, a PE ratio of -17.47 and a beta of 3.41.

PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Wednesday, May 5th. The energy producer reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.58. PDC Energy had a positive return on equity of 14.11% and a negative net margin of 30.91%. The company had revenue of $286.04 million during the quarter, compared to analysts’ expectations of $396.93 million. Equities research analysts predict that PDC Energy, Inc. will post 4.3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 24th. Shareholders of record on Thursday, June 10th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Wednesday, June 9th.

In other news, Director Lynn A. Peterson sold 5,000 shares of the stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $46.65, for a total value of $233,250.00. Following the transaction, the director now directly owns 225,377 shares of the company’s stock, valued at $10,513,837.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Randy S. Nickerson sold 7,298 shares of the stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $41.55, for a total value of $303,231.90. Following the completion of the transaction, the director now directly owns 14,479 shares in the company, valued at $601,602.45. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

A number of equities analysts have recently issued reports on PDCE shares. TD Securities increased their price target on PDC Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, May 7th. Zacks Investment Research downgraded PDC Energy from a “strong-buy” rating to a “hold” rating and set a $39.00 price target on the stock. in a research report on Tuesday, March 2nd. TheStreet raised PDC Energy from a “d+” rating to a “c-” rating in a research report on Tuesday, March 16th. JPMorgan Chase & Co. increased their price target on PDC Energy from $30.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. They noted that the move was a valuation call. Finally, Seaport Global Securities reissued a “buy” rating on shares of PDC Energy in a research report on Monday, April 5th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $33.08.

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. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.

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

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