Rhumbline Advisers raised its holdings in shares of PDC Energy Inc (NASDAQ:PDCE) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,641 shares of the energy producer’s stock after purchasing an additional 1,983 shares during the period. Rhumbline Advisers owned 0.25% of PDC Energy worth $9,953,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Centaurus Financial Inc. bought a new position in PDC Energy during the 1st quarter valued at approximately $107,000. Russell Investments Group Ltd. bought a new position in PDC Energy during the 1st quarter valued at approximately $192,000. Pitcairn Co. bought a new position in PDC Energy during the 1st quarter valued at approximately $205,000. Dubuque Bank & Trust Co. raised its position in PDC Energy by 31.8% during the 1st quarter. Dubuque Bank & Trust Co. now owns 4,469 shares of the energy producer’s stock valued at $219,000 after purchasing an additional 1,077 shares during the last quarter. Finally, Royal Bank of Canada raised its position in PDC Energy by 994.8% during the 1st quarter. Royal Bank of Canada now owns 4,653 shares of the energy producer’s stock valued at $228,000 after purchasing an additional 4,228 shares during the last quarter.

Shares of NASDAQ:PDCE opened at $54.21 on Friday. PDC Energy Inc has a 52-week low of $37.15 and a 52-week high of $66.20. The company has a market capitalization of $3.65 billion, a PE ratio of -15.58, a PEG ratio of 0.60 and a beta of 0.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.36 and a quick ratio of 0.36.

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

A number of research firms have commented on PDCE. Williams Capital set a $77.00 price target on PDC Energy and gave the company a “buy” rating in a research report on Monday, August 20th. KLR Group reaffirmed a “buy” rating and set a $84.00 price target on shares of PDC Energy in a research report on Monday, August 20th. Credit Suisse Group set a $62.00 price target on PDC Energy and gave the company a “hold” rating in a research report on Tuesday, August 14th. BMO Capital Markets set a $62.00 price target on PDC Energy and gave the company a “hold” rating in a research report on Sunday, August 12th. Finally, Imperial Capital lowered their price target on PDC Energy from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Friday, August 10th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $72.16.

In related news, insider Barton R. Brookman, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $60.91, for a total value of $91,365.00. Following the sale, the insider now owns 208,026 shares in the company, valued at approximately $12,670,863.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David C. Parke sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $53.03, for a total value of $31,818.00. Following the completion of the sale, the director now owns 13,341 shares in the company, valued at approximately $707,473.23. The disclosure for this sale can be found here. Insiders sold a total of 12,100 shares of company stock valued at $730,663 in the last three months. Corporate insiders own 1.00% of the company’s stock.

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. 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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