Miller Howard Investments Inc. NY lessened its stake in shares of PDC Energy, Inc. (NASDAQ:PDCE) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 127,455 shares of the energy producer’s stock after selling 13,208 shares during the period. Miller Howard Investments Inc. NY owned approximately 0.19% of PDC Energy worth $6,249,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of PDC Energy by 8.7% in the 2nd quarter. Rhumbline Advisers now owns 129,684 shares of the energy producer’s stock valued at $5,591,000 after acquiring an additional 10,360 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of PDC Energy in the 2nd quarter valued at $978,000. Tricadia Capital Management LLC acquired a new position in shares of PDC Energy in the 2nd quarter valued at $693,000. Moody Aldrich Partners LLC lifted its stake in shares of PDC Energy by 37.9% in the 2nd quarter. Moody Aldrich Partners LLC now owns 7,605 shares of the energy producer’s stock valued at $328,000 after purchasing an additional 2,090 shares during the period. Finally, NJ State Employees Deferred Compensation Plan acquired a new position in shares of PDC Energy in the 3rd quarter valued at $883,000.
PDC Energy, Inc. (NASDAQ:PDCE) traded down $0.14 during trading hours on Friday, hitting $50.00. The stock had a trading volume of 877,200 shares, compared to its average volume of 1,054,863. The firm has a market cap of $3,293.65, a P/E ratio of 128.21 and a beta of 0.82. The company has a quick ratio of 1.20, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. PDC Energy, Inc. has a fifty-two week low of $36.74 and a fifty-two week high of $84.88.
A number of equities analysts have weighed in on PDCE shares. Bank of America Corporation started coverage on shares of PDC Energy in a research report on Wednesday, July 19th. They set a “buy” rating and a $60.00 price objective for the company. Stifel Nicolaus set a $69.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. KeyCorp reiterated a “buy” rating and issued a $55.00 target price on shares of PDC Energy in a research report on Tuesday, September 26th. Seaport Global Securities upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $51.00 in a research report on Friday, August 11th. Finally, Mizuho upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $53.00 to $55.00 in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $68.86.
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In related news, COO Scott J. Reasoner sold 1,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $49.64, for a total value of $49,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.91% of the company’s stock.
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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