Goldman Sachs Group Inc. lessened its stake in shares of PDC Energy Inc (NASDAQ:PDCE) by 21.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,789,559 shares of the energy producer’s stock after selling 497,039 shares during the period. Goldman Sachs Group Inc.’s holdings in PDC Energy were worth $46,832,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp increased its holdings in PDC Energy by 30.6% during the fourth quarter. State Street Corp now owns 3,839,025 shares of the energy producer’s stock worth $100,467,000 after buying an additional 899,129 shares during the last quarter. Barclays PLC increased its holdings in PDC Energy by 1,058.2% during the third quarter. Barclays PLC now owns 1,647,999 shares of the energy producer’s stock worth $45,732,000 after buying an additional 1,505,711 shares during the last quarter. Millennium Management LLC purchased a new stake in PDC Energy during the third quarter worth about $25,886,000. Charles Schwab Investment Management Inc. increased its holdings in PDC Energy by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 541,944 shares of the energy producer’s stock worth $14,183,000 after buying an additional 31,097 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in PDC Energy by 3,510.4% during the third quarter. Point72 Asset Management L.P. now owns 434,040 shares of the energy producer’s stock worth $12,045,000 after buying an additional 422,018 shares during the last quarter. Institutional investors and hedge funds own 70.35% of the company’s stock.
Shares of NASDAQ:PDCE opened at $7.82 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $721.87 million, a PE ratio of -8.99, a P/E/G ratio of 0.25 and a beta of 1.23. PDC Energy Inc has a twelve month low of $4.51 and a twelve month high of $47.29. The company has a 50-day moving average price of $15.99 and a two-hundred day moving average price of $22.84.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Wednesday, February 26th. The energy producer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. PDC Energy had a negative net margin of 4.90% and a positive return on equity of 2.25%. The company had revenue of $265.02 million during the quarter, compared to analyst estimates of $333.35 million. Analysts anticipate that PDC Energy Inc will post 0.74 earnings per share for the current fiscal year.
In other news, Director Mark E. Ellis acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average cost of $17.53 per share, for a total transaction of $175,300.00. Also, Director Anthony J. Crisafio sold 3,850 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $24.83, for a total transaction of $95,595.50. Following the completion of the transaction, the director now owns 18,280 shares of the company’s stock, valued at $453,892.40. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
A number of analysts recently issued reports on the stock. MKM Partners decreased their price objective on shares of PDC Energy from $37.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Tudor Pickering upgraded shares of PDC Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. TD Securities cut their target price on shares of PDC Energy from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Credit Suisse Group reiterated an “outperform” rating and set a $15.00 target price on shares of PDC Energy in a research report on Thursday, March 19th. Finally, Zacks Investment Research lowered shares of PDC Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $39.31.
About PDC Energy
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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.
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