Schwab Charles Investment Management Inc. decreased its stake in shares of PDC Energy, Inc. (NASDAQ:PDCE) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 275,972 shares of the energy producer’s stock after selling 12,097 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.42% of PDC Energy worth $17,207,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Flinton Capital Management LLC boosted its position in shares of PDC Energy by 19.8% in the first quarter. Flinton Capital Management LLC now owns 1,744 shares of the energy producer’s stock valued at $109,000 after buying an additional 288 shares during the period. Israel Discount Bank of New York GFN purchased a new position in shares of PDC Energy during the fourth quarter valued at about $120,000. Invictus RG boosted its position in shares of PDC Energy by 11.2% in the first quarter. Invictus RG now owns 2,151 shares of the energy producer’s stock valued at $134,000 after buying an additional 216 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PDC Energy by 42.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,186 shares of the energy producer’s stock valued at $136,000 after buying an additional 649 shares during the period. Finally, Dubuque Bank & Trust Co. purchased a new position in shares of PDC Energy during the first quarter valued at about $147,000.
Shares of PDC Energy, Inc. (NASDAQ:PDCE) traded up 6.61% on Friday, reaching $46.26. The company’s stock had a trading volume of 1,110,394 shares. The stock has a 50 day moving average of $44.58 and a 200-day moving average of $57.92. PDC Energy, Inc. has a 12 month low of $40.12 and a 12 month high of $84.88. The firm’s market cap is $3.02 billion.
PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Friday, May 5th. The energy producer reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.03. PDC Energy had a negative net margin of 22.67% and a negative return on equity of 0.20%. The business had revenue of $273.70 million for the quarter, compared to analysts’ expectations of $182.05 million. During the same quarter in the previous year, the company earned ($0.89) earnings per share. The business’s quarterly revenue was up 201.4% on a year-over-year basis. On average, analysts anticipate that PDC Energy, Inc. will post $0.03 EPS for the current year.
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A number of research firms have issued reports on PDCE. Williams Capital cut their target price on PDC Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Friday, April 21st. Zacks Investment Research cut PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday, April 14th. Credit Suisse Group cut PDC Energy from an “outperform” rating to a “neutral” rating and set a $69.00 target price on the stock. in a research note on Thursday, June 1st. BidaskClub cut PDC Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 29th. Finally, Barclays PLC reiterated a “buy” rating and issued a $80.00 price target (down previously from $89.00) on shares of PDC Energy in a research report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $74.00.
About PDC Energy
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
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