Guggenheim Capital LLC boosted its position in shares of PDC Energy Inc (NASDAQ:PDCE) by 19.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,924 shares of the energy producer’s stock after buying an additional 1,748 shares during the period. Guggenheim Capital LLC’s holdings in PDC Energy were worth $792,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Flinton Capital Management LLC purchased a new stake in PDC Energy during the fourth quarter worth about $106,000. LS Investment Advisors LLC increased its stake in PDC Energy by 2.2% in the third quarter. LS Investment Advisors LLC now owns 1,698 shares of the energy producer’s stock worth $114,000 after buying an additional 37 shares during the period. Intellectus Partners LLC purchased a new stake in PDC Energy during the fourth quarter worth about $145,000. First Interstate Bank purchased a new stake in PDC Energy during the fourth quarter worth about $172,000. Finally, Elkfork Partners LLC purchased a new stake in PDC Energy during the fourth quarter worth about $224,000.
PDC Energy Inc (NASDAQ:PDCE) opened at 57.31 on Friday. The company’s market capitalization is $3.74 billion. PDC Energy Inc has a 12-month low of $50.12 and a 12-month high of $84.88. The stock’s 50 day moving average price is $63.23 and its 200 day moving average price is $68.82.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Tuesday, February 28th. The energy producer reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.14. The business earned $108.09 million during the quarter, compared to analyst estimates of $206.40 million. PDC Energy had a negative net margin of 42.23% and a negative return on equity of 2.31%. PDC Energy’s revenue for the quarter was down 35.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. On average, equities research analysts anticipate that PDC Energy Inc will post $0.55 earnings per share for the current fiscal year.
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A number of equities research analysts have issued reports on PDCE shares. Canaccord Genuity set a $85.00 price target on PDC Energy and gave the company a “buy” rating in a research report on Saturday, February 11th. Zacks Investment Research raised PDC Energy from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Wednesday, February 8th. KLR Group raised PDC Energy from an “accumulate” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Friday, January 20th. Hilliard Lyons raised PDC Energy from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 1st. Finally, Williams Capital reissued a “buy” rating and set a $94.00 price target on shares of PDC Energy in a research report on Monday, April 10th. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $79.24.
In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 1,700 shares of PDC Energy stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $68.51, for a total transaction of $116,467.00. Following the completion of the sale, the chief executive officer now owns 178,381 shares of the company’s stock, valued at approximately $12,220,882.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph E. Casabona sold 1,000 shares of PDC Energy stock in a transaction on Monday, April 17th. The stock was sold at an average price of $63.29, for a total transaction of $63,290.00. Following the sale, the director now directly owns 30,456 shares of the company’s stock, valued at approximately $1,927,560.24. The disclosure for this sale can be found here. In the last three months, insiders sold 6,300 shares of company stock valued at $425,198. 1.80% of the stock is currently owned by company insiders.
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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