NWQ Investment Management Company LLC lowered its holdings in PDC Energy Inc (NASDAQ:PDCE) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,438,782 shares of the energy producer’s stock after selling 59,140 shares during the quarter. PDC Energy comprises about 1.3% of NWQ Investment Management Company LLC’s investment portfolio, making the stock its 19th largest position. NWQ Investment Management Company LLC owned 2.18% of PDC Energy worth $63,206,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Rothschild & Co. Asset Management US Inc. raised its position in shares of PDC Energy by 0.4% during the third quarter. Rothschild & Co. Asset Management US Inc. now owns 703,045 shares of the energy producer’s stock worth $34,421,000 after acquiring an additional 2,575 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of PDC Energy during the second quarter worth $373,000. Wilks Brothers LLC raised its position in shares of PDC Energy by 91.1% during the third quarter. Wilks Brothers LLC now owns 160,499 shares of the energy producer’s stock worth $7,858,000 after acquiring an additional 76,499 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of PDC Energy during the second quarter worth $914,000. Finally, FMR LLC raised its position in shares of PDC Energy by 7.9% during the second quarter. FMR LLC now owns 3,385,504 shares of the energy producer’s stock worth $204,653,000 after acquiring an additional 246,713 shares during the last quarter.
In other PDC Energy news, EVP Lance Lauck sold 500 shares of the business’s stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $52.50, for a total value of $26,250.00. Following the completion of the transaction, the executive vice president now directly owns 94,728 shares of the company’s stock, valued at $4,973,220. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David C. Parke sold 700 shares of the business’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $40.07, for a total value of $28,049.00. Following the completion of the transaction, the director now directly owns 12,641 shares of the company’s stock, valued at $506,524.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,541 shares of company stock valued at $312,151. Insiders own 1.00% of the company’s stock.
NASDAQ PDCE traded up $0.80 on Friday, reaching $34.77. The company had a trading volume of 87,715 shares, compared to its average volume of 1,073,157. The company has a market capitalization of $2.29 billion, a PE ratio of -9.99, a P/E/G ratio of 0.49 and a beta of 0.68. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.53. PDC Energy Inc has a 52 week low of $32.93 and a 52 week high of $66.20.
PDC Energy (NASDAQ:PDCE) last posted its earnings results on Monday, November 5th. The energy producer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.11). PDC Energy had a negative net margin of 10.52% and a positive return on equity of 3.64%. The business had revenue of $280.70 million during the quarter, compared to analyst estimates of $337.69 million. During the same period in the previous year, the firm posted ($3.85) earnings per share. The firm’s revenue was up 53.2% on a year-over-year basis. As a group, sell-side analysts predict that PDC Energy Inc will post 1.84 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on PDCE shares. BidaskClub downgraded PDC Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Oppenheimer started coverage on PDC Energy in a research report on Wednesday, October 3rd. They set a “market perform” rating for the company. ValuEngine downgraded PDC Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Mitsubishi UFJ Financial Group dropped their price objective on PDC Energy to $76.00 and set an “overweight” rating for the company in a report on Wednesday, November 7th. Finally, Williams Capital set a $77.00 price objective on PDC Energy and gave the company a “buy” rating in a report on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.65.
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PDC Energy Profile
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. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
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