Investors Asset Management of Georgia Inc. GA ADV increased its stake in shares of PDC Energy Inc (NASDAQ:PDCE) by 20.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 38,012 shares of the energy producer’s stock after purchasing an additional 6,503 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in PDC Energy were worth $995,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PDCE. Barclays PLC grew its position in PDC Energy by 1,058.2% during the 3rd quarter. Barclays PLC now owns 1,647,999 shares of the energy producer’s stock worth $45,732,000 after acquiring an additional 1,505,711 shares during the last quarter. Millennium Management LLC bought a new stake in shares of PDC Energy in the 3rd quarter worth approximately $25,886,000. Point72 Asset Management L.P. grew its position in shares of PDC Energy by 3,510.4% in the 3rd 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. Nuveen Asset Management LLC bought a new stake in shares of PDC Energy in the 2nd quarter worth approximately $13,052,000. Finally, Man Group plc grew its position in shares of PDC Energy by 455.0% in the 3rd quarter. Man Group plc now owns 175,430 shares of the energy producer’s stock worth $4,868,000 after buying an additional 143,820 shares during the last quarter.

A number of equities research analysts have recently weighed in on PDCE shares. Cfra upgraded PDC Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Barclays reiterated a “buy” rating and issued a $35.00 price objective on shares of PDC Energy in a research report on Tuesday, November 26th. Tudor Pickering upgraded PDC Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. BidaskClub upgraded PDC Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, KeyCorp cut their price objective on PDC Energy from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $47.44.

Shares of NASDAQ PDCE traded down $1.06 during mid-day trading on Wednesday, hitting $24.10. 2,067,527 shares of the stock traded hands, compared to its average volume of 1,901,784. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 0.84. PDC Energy Inc has a 52 week low of $19.57 and a 52 week high of $47.29. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -8.14, a PEG ratio of 0.37 and a beta of 1.16. The stock has a fifty day moving average price of $24.92 and a 200-day moving average price of $27.09.

PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Wednesday, November 6th. The energy producer reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.69). The firm had revenue of $365.94 million for the quarter, compared to the consensus estimate of $325.37 million. PDC Energy had a net margin of 8.49% and a negative return on equity of 5.40%. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. As a group, sell-side analysts predict that PDC Energy Inc will post 0.62 EPS for the current fiscal year.

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

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