The Manufacturers Life Insurance Company lifted its holdings in PDC Energy, Inc. (NASDAQ:PDCE) by 17.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,776 shares of the energy producer’s stock after purchasing an additional 7,639 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of PDC Energy worth $2,189,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in PDC Energy by 8.7% during the second quarter. Rhumbline Advisers now owns 129,684 shares of the energy producer’s stock valued at $5,591,000 after purchasing an additional 10,360 shares in the last quarter. Stevens Capital Management LP acquired a new stake in PDC Energy during the second quarter valued at approximately $978,000. Tricadia Capital Management LLC acquired a new stake in PDC Energy during the second quarter valued at approximately $693,000. Moody Aldrich Partners LLC boosted its holdings in shares of PDC Energy by 37.9% in the 2nd quarter. Moody Aldrich Partners LLC now owns 7,605 shares of the energy producer’s stock worth $328,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Integrated Investment Consultants LLC boosted its holdings in shares of PDC Energy by 27.7% in the 2nd quarter. Integrated Investment Consultants LLC now owns 2,525 shares of the energy producer’s stock worth $109,000 after acquiring an additional 547 shares in the last quarter.
PDCE has been the topic of several recent analyst reports. Bank of America Corporation initiated coverage on PDC Energy in a report on Wednesday, July 19th. They issued a “buy” rating and a $60.00 target price on the stock. BidaskClub downgraded PDC Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research upgraded shares of PDC Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Williams Capital set a $67.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Finally, Mizuho upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $55.00 in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $68.86.
PDC Energy, Inc. (NASDAQ:PDCE) opened at $48.21 on Tuesday. The firm has a market cap of $3,293.64, a PE ratio of 128.21 and a beta of 0.82. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. PDC Energy, Inc. has a fifty-two week low of $36.74 and a fifty-two week high of $84.88.
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In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $49.64, for a total value of $49,640.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.91% of the stock is owned by corporate insiders.
PDC Energy Profile
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
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