Schwab Charles Investment Management Inc. decreased its position 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 Securities and Exchange Commission (SEC). The fund owned 275,972 shares of the energy producer’s stock after selling 12,097 shares during the period. Schwab Charles Investment Management Inc. owned 0.42% of PDC Energy worth $17,207,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Flinton Capital Management LLC raised its stake in PDC Energy by 19.8% in the first quarter. Flinton Capital Management LLC now owns 1,744 shares of the energy producer’s stock worth $109,000 after buying an additional 288 shares during the last quarter. Israel Discount Bank of New York GFN purchased a new stake in shares of PDC Energy during the fourth quarter valued at approximately $120,000. Invictus RG raised its stake 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 last quarter. Finally, Dubuque Bank & Trust Co. purchased a new stake in shares of PDC Energy during the first quarter valued at approximately $147,000.
Shares of PDC Energy, Inc. (PDCE) opened at 43.40 on Wednesday. PDC Energy, Inc. has a 52 week low of $40.12 and a 52 week high of $84.88. The company’s market capitalization is $2.83 billion. The firm’s 50-day moving average price is $48.30 and its 200 day moving average price is $63.05.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Friday, May 5th. The energy producer reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.03. The firm had revenue of $273.70 million for the quarter, compared to analyst estimates of $182.05 million. PDC Energy had a negative return on equity of 0.20% and a negative net margin of 22.67%. The firm’s quarterly revenue was up 201.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.89) EPS. Equities analysts predict that PDC Energy, Inc. will post $0.20 EPS for the current year.
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Several analysts recently commented on the company. Scotiabank reaffirmed a “hold” rating and issued a $60.00 price objective on shares of PDC Energy in a report on Friday, June 30th. Seaport Global Securities lowered PDC Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $89.00 to $46.00 in a report on Wednesday, June 21st. Zacks Investment Research lowered PDC Energy from a “hold” rating to a “strong sell” rating in a report on Saturday. BMO Capital Markets set a $45.00 price objective on PDC Energy and gave the stock a “hold” rating in a report on Monday, June 26th. Finally, BidaskClub raised PDC Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $74.81.
In other news, Director Joseph E. Casabona sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $63.29, for a total transaction of $63,290.00. Following the completion of the sale, the director now owns 30,456 shares in the company, valued at approximately $1,927,560.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.91% of the stock is owned by company insiders.
PDC Energy Company Profile
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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