Vanguard Group Inc. lowered its stake in PDC Energy Inc (NASDAQ:PDCE) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,766,140 shares of the energy producer’s stock after selling 83,395 shares during the quarter. Vanguard Group Inc. owned about 10.81% of PDC Energy worth $243,986,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Northern Trust Corp lifted its position in PDC Energy by 1.7% in the second quarter. Northern Trust Corp now owns 1,389,279 shares of the energy producer’s stock valued at $50,097,000 after buying an additional 23,318 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of PDC Energy by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 736,641 shares of the energy producer’s stock worth $21,921,000 after buying an additional 48,261 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of PDC Energy by 4.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 515,535 shares of the energy producer’s stock worth $18,591,000 after buying an additional 22,433 shares during the period. William Blair Investment Management LLC increased its stake in shares of PDC Energy by 35.9% during the first quarter. William Blair Investment Management LLC now owns 491,199 shares of the energy producer’s stock worth $19,982,000 after buying an additional 129,717 shares during the period. Finally, Anchor Capital Advisors LLC increased its stake in shares of PDC Energy by 1.0% during the second quarter. Anchor Capital Advisors LLC now owns 354,149 shares of the energy producer’s stock worth $12,771,000 after buying an additional 3,348 shares during the period.
PDCE has been the topic of a number of recent research reports. ValuEngine upgraded shares of PDC Energy from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Mitsubishi UFJ Financial Group upped their target price on shares of PDC Energy to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Barclays initiated coverage on shares of PDC Energy in a research note on Friday, August 30th. They set an “overweight” rating and a $42.00 target price on the stock. Zacks Investment Research upgraded shares of PDC Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Wells Fargo & Co upped their price target on PDC Energy from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $49.65.
PDCE traded up $0.44 on Thursday, reaching $26.29. The company’s stock had a trading volume of 50,075 shares, compared to its average volume of 1,761,157. The stock has a 50 day moving average of $29.83 and a two-hundred day moving average of $34.38. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -8.91, a P/E/G ratio of 0.71 and a beta of 0.95. PDC Energy Inc has a fifty-two week low of $24.13 and a fifty-two week high of $53.50.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Wednesday, August 7th. The energy producer reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.11). The business had revenue of $390.70 million during the quarter, compared to analyst estimates of $333.78 million. PDC Energy had a net margin of 7.73% and a negative return on equity of 3.08%. The business’s revenue for the quarter was up 83.9% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. As a group, analysts anticipate that PDC Energy Inc will post 1.61 earnings per share for the current fiscal year.
About PDC Energy
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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