Great West Life Assurance Co. Can boosted its stake in shares of PDC Energy Inc (NASDAQ:PDCE) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,213 shares of the energy producer’s stock after purchasing an additional 6,322 shares during the quarter. Great West Life Assurance Co. Can owned 0.14% of PDC Energy worth $4,372,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in PDCE. Vanguard Group Inc. raised its stake in PDC Energy by 13.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock valued at $244,797,000 after purchasing an additional 677,329 shares during the last quarter. State Street Corp raised its stake in PDC Energy by 24.8% during the 2nd quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock valued at $105,957,000 after purchasing an additional 487,816 shares during the last quarter. BlackRock Inc. raised its stake in PDC Energy by 5.5% during the 2nd quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock valued at $313,529,000 after purchasing an additional 381,958 shares during the last quarter. Caymus Capital Partners L.P. raised its stake in PDC Energy by 33.3% during the 3rd quarter. Caymus Capital Partners L.P. now owns 1,525,300 shares of the energy producer’s stock valued at $74,785,000 after purchasing an additional 380,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in PDC Energy by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,714,020 shares of the energy producer’s stock valued at $160,110,000 after purchasing an additional 328,518 shares during the last quarter.
Shares of PDC Energy Inc (PDCE) opened at $44.47 on Friday. The company has a quick ratio of 0.90, 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. The firm has a market cap of $2,930.00, a PE ratio of 110.36 and a beta of 0.80.
In other news, COO Scott J. Reasoner sold 1,000 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.91% of the stock is currently owned by corporate insiders.
Several research firms recently commented on PDCE. BidaskClub cut shares of PDC Energy from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays increased their price objective on shares of PDC Energy from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. BMO Capital Markets set a $55.00 price objective on shares of PDC Energy and gave the company a “hold” rating in a research note on Tuesday, November 14th. Wolfe Research started coverage on shares of PDC Energy in a research note on Tuesday, November 14th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus restated a “buy” rating and issued a $81.00 price objective (down previously from $82.00) on shares of PDC Energy in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $69.00.
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PDC Energy 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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