William Blair Investment Management LLC trimmed its position in PDC Energy Inc (NASDAQ:PDCE) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 356,126 shares of the energy producer’s stock after selling 26,829 shares during the period. William Blair Investment Management LLC owned approximately 0.54% of PDC Energy worth $17,436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Rothschild & Co. Asset Management US Inc. lifted its stake in shares of PDC Energy by 0.4% during the third quarter. Rothschild & Co. Asset Management US Inc. now owns 703,045 shares of the energy producer’s stock worth $34,421,000 after buying an additional 2,575 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of PDC Energy during the second quarter worth $373,000. Wilks Brothers LLC lifted its stake in shares of PDC Energy by 91.1% during the third quarter. Wilks Brothers LLC now owns 160,499 shares of the energy producer’s stock worth $7,858,000 after buying an additional 76,499 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of PDC Energy during the second quarter worth $914,000. Finally, FMR LLC lifted its stake in shares of PDC Energy by 7.9% during the second quarter. FMR LLC now owns 3,385,504 shares of the energy producer’s stock worth $204,653,000 after buying an additional 246,713 shares during the period.

In other PDC Energy news, insider Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction on Monday, October 1st. The shares were sold at an average price of $49.09, for a total value of $73,635.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David C. Parke sold 700 shares of PDC Energy stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $40.07, for a total transaction of $28,049.00. Following the completion of the transaction, the director now directly owns 12,641 shares of the company’s stock, valued at approximately $506,524.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,541 shares of company stock valued at $312,151. 1.00% of the stock is currently owned by corporate insiders.

Shares of PDC Energy stock opened at $34.69 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.38 and a quick ratio of 0.38. PDC Energy Inc has a 1 year low of $33.27 and a 1 year high of $66.20. The firm has a market cap of $2.24 billion, a P/E ratio of -9.97, a price-to-earnings-growth ratio of 0.52 and a beta of 0.68.

PDC Energy (NASDAQ:PDCE) last issued its earnings results on Monday, November 5th. The energy producer reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.11). PDC Energy had a positive return on equity of 3.64% and a negative net margin of 10.52%. The business had revenue of $280.70 million for the quarter, compared to analysts’ expectations of $337.69 million. During the same period last year, the business earned ($3.85) EPS. The company’s revenue for the quarter was up 53.2% on a year-over-year basis. As a group, equities analysts anticipate that PDC Energy Inc will post 1.84 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on the stock. BidaskClub downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Williams Capital set a $82.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research note on Thursday, August 9th. TD Securities set a $79.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research note on Thursday, August 9th. Zacks Investment Research downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. Finally, BMO Capital Markets set a $55.00 price objective on shares of PDC Energy and gave the stock a “hold” rating in a research note on Tuesday, November 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $71.16.

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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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