Glenmede Trust Co. NA lowered its stake in PDC Energy Inc (NASDAQ:PDCE) by 56.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,101 shares of the energy producer’s stock after selling 118,775 shares during the period. Glenmede Trust Co. NA owned approximately 0.14% of PDC Energy worth $5,507,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in shares of PDC Energy in the first quarter valued at $192,000. Pitcairn Co. bought a new position in shares of PDC Energy in the first quarter valued at $205,000. Royal Bank of Canada increased its holdings in shares of PDC Energy by 994.8% in the first quarter. Royal Bank of Canada now owns 4,653 shares of the energy producer’s stock valued at $228,000 after buying an additional 4,228 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of PDC Energy in the second quarter valued at $276,000. Finally, Verition Fund Management LLC bought a new position in shares of PDC Energy in the first quarter valued at $293,000.

PDC Energy stock opened at $49.53 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.36. PDC Energy Inc has a 12 month low of $41.13 and a 12 month high of $66.20. The firm has a market cap of $3.23 billion, a PE ratio of -14.23, a P/E/G ratio of 0.53 and a beta of 0.62.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Wednesday, August 8th. The energy producer reported $0.56 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.04). PDC Energy had a negative net margin of 43.37% and a positive return on equity of 2.52%. The company had revenue of $212.53 million for the quarter, compared to analysts’ expectations of $308.73 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company’s revenue was down 22.8% on a year-over-year basis. equities analysts expect that PDC Energy Inc will post 2.39 earnings per share for the current fiscal year.

In other news, insider Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $52.71, for a total transaction of $79,065.00. Following the transaction, the insider now directly owns 203,526 shares in the company, valued at approximately $10,727,855.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Lance Lauck sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 3rd. The shares were sold at an average price of $59.56, for a total transaction of $119,120.00. Following the transaction, the executive vice president now owns 96,728 shares in the company, valued at $5,761,119.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,100 shares of company stock worth $699,043. 1.00% of the stock is currently owned by corporate insiders.

Several research analysts have issued reports on the company. TD Securities assumed coverage on PDC Energy in a report on Thursday, July 5th. They issued a “buy” rating and a $80.00 price target on the stock. Macquarie downgraded shares of PDC Energy from an “outperform” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research note on Tuesday, August 7th. Williams Capital set a $82.00 target price on shares of PDC Energy and gave the company a “buy” rating in a research note on Thursday, August 9th. BidaskClub downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, Stephens reissued a “buy” rating and set a $78.00 target price on shares of PDC Energy in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the stock. PDC Energy presently has a consensus rating of “Buy” and a consensus price target of $72.16.

PDC Energy Company 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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Institutional Ownership by Quarter for PDC Energy (NASDAQ:PDCE)

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