Mackenzie Financial Corp Purchases Shares of 33,000 PDC Energy Inc (PDCE)

Mackenzie Financial Corp bought a new stake in PDC Energy Inc (NASDAQ:PDCE) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 33,000 shares of the energy producer’s stock, valued at approximately $1,618,000. Mackenzie Financial Corp owned approximately 0.05% of PDC Energy as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PDCE. Arizona State Retirement System grew its position in PDC Energy by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 29,199 shares of the energy producer’s stock worth $1,259,000 after purchasing an additional 100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PDC Energy by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after acquiring an additional 209 shares in the last quarter. Texas Permanent School Fund boosted its holdings in shares of PDC Energy by 0.8% in the second quarter. Texas Permanent School Fund now owns 40,812 shares of the energy producer’s stock valued at $1,759,000 after acquiring an additional 342 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of PDC Energy by 3.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 13,200 shares of the energy producer’s stock valued at $569,000 after acquiring an additional 480 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of PDC Energy by 1.4% in the second quarter. Comerica Bank now owns 66,958 shares of the energy producer’s stock valued at $3,004,000 after acquiring an additional 895 shares in the last quarter.

Shares of PDC Energy Inc (NASDAQ:PDCE) traded up $1.31 during mid-day trading on Tuesday, reaching $52.85. 706,180 shares of the company traded hands, compared to its average volume of 687,250. PDC Energy Inc has a 12-month low of $36.74 and a 12-month high of $78.61. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a market cap of $3,395.08, a P/E ratio of -13.02 and a beta of 0.79.

PDCE has been the subject of a number of research reports. Jefferies Group initiated coverage on shares of PDC Energy in a report on Monday, October 9th. They set a “buy” rating and a $60.00 target price for the company. Stifel Nicolaus set a $69.00 target price on shares of PDC Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. KeyCorp restated a “buy” rating and issued a $55.00 price target on shares of PDC Energy in a research report on Tuesday, September 26th. SunTrust Banks set a $55.00 price target on shares of PDC Energy and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, Mizuho reiterated a “buy” rating and issued a $55.00 target price on shares of PDC Energy in a research report on Friday, October 27th. Ten analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $66.60.

In other news, COO Scott J. Reasoner sold 1,000 shares of the company’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $52.08, for a total transaction of $78,120.00. Following the completion of the transaction, the chief executive officer now owns 168,101 shares of the company’s stock, valued at approximately $8,754,700.08. The disclosure for this sale can be found here. 0.91% of the stock is owned by insiders.

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About PDC Energy

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.

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

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