LS Investment Advisors LLC decreased its position in PDC Energy Inc (NASDAQ:PDCE) by 40.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,181 shares of the energy producer’s stock after selling 786 shares during the period. LS Investment Advisors LLC’s holdings in PDC Energy were worth $33,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its position in shares of PDC Energy by 72.2% during the 2nd quarter. First Trust Advisors LP now owns 180,909 shares of the energy producer’s stock worth $6,524,000 after buying an additional 75,864 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of PDC Energy by 16.0% in the second quarter. Aperio Group LLC now owns 21,707 shares of the energy producer’s stock valued at $783,000 after purchasing an additional 2,990 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of PDC Energy by 0.8% in the second quarter. Arizona State Retirement System now owns 102,819 shares of the energy producer’s stock valued at $3,708,000 after purchasing an additional 777 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in PDC Energy during the second quarter worth $13,052,000. Finally, SCP Investment LP lifted its holdings in PDC Energy by 35.0% during the second quarter. SCP Investment LP now owns 54,000 shares of the energy producer’s stock worth $1,947,000 after acquiring an additional 14,000 shares during the period.
In other PDC Energy news, Director Anthony J. Crisafio sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $35.09, for a total transaction of $52,635.00. Following the transaction, the director now owns 22,130 shares in the company, valued at approximately $776,541.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
PDC Energy (NASDAQ:PDCE) last posted its earnings results on Wednesday, November 6th. The energy producer reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.69). PDC Energy had a negative return on equity of 3.08% and a net margin of 7.73%. The firm had revenue of $365.94 million for the quarter, compared to analysts’ expectations of $325.37 million. During the same quarter last year, the company posted $0.48 EPS. The firm’s revenue was up 30.4% on a year-over-year basis. On average, sell-side analysts predict that PDC Energy Inc will post 1.24 EPS for the current year.
A number of analysts recently commented on PDCE shares. Cfra upgraded PDC Energy from a “hold” rating to a “buy” rating in a report on Thursday. Stifel Nicolaus raised their target price on PDC Energy from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday. MKM Partners raised their target price on PDC Energy from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Zacks Investment Research raised PDC Energy from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, KeyCorp decreased their target price on PDC Energy from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating to the stock. PDC Energy has an average rating of “Buy” and a consensus target price of $49.67.
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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