Mason Street Advisors LLC acquired a new position in PDC Energy Inc. (NASDAQ:PDCE) during the second quarter, Holdings Channel reports. The institutional investor acquired 9,055 shares of the company’s stock, valued at approximately $522,000.
Several other institutional investors also recently modified their holdings of PDCE. Harbour Capital Advisors LLC bought a new position in shares of PDC Energy during the second quarter valued at about $822,000. Royal Bank of Canada raised its stake in shares of PDC Energy by 3.5% in the second quarter. Royal Bank of Canada now owns 6,858 shares of the company’s stock worth $395,000 after buying an additional 232 shares during the period. Howe & Rusling Inc. raised its stake in shares of PDC Energy by 10.4% in the second quarter. Howe & Rusling Inc. now owns 1,749 shares of the company’s stock worth $101,000 after buying an additional 165 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of PDC Energy by 6.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 175,656 shares of the company’s stock worth $10,120,000 after buying an additional 11,338 shares during the period. Finally, Amalgamated Bank raised its stake in shares of PDC Energy by 18.0% in the second quarter. Amalgamated Bank now owns 5,077 shares of the company’s stock worth $311,000 after buying an additional 776 shares during the period. Institutional investors own 93.50% of the company’s stock.
Shares of PDC Energy Inc. (NASDAQ:PDCE) opened at 66.43 on Tuesday. PDC Energy Inc. has a one year low of $42.68 and a one year high of $71.00. The stock’s market capitalization is $3.10 billion. The company’s 50-day moving average price is $65.36 and its 200 day moving average price is $59.84.
PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.05. The business had revenue of $20.10 million for the quarter, compared to the consensus estimate of $160.18 million. PDC Energy had a negative net margin of 40.23% and a negative return on equity of 1.07%. PDC Energy’s revenue was down 60.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. Analysts anticipate that PDC Energy Inc. will post ($0.33) EPS for the current year.
A number of brokerages recently commented on PDCE. Seaport Global Securities upgraded PDC Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $61.00 to $87.00 in a report on Tuesday, August 30th. Canaccord Genuity set a $80.00 price target on PDC Energy and gave the stock a “buy” rating in a report on Monday, August 29th. Williams Capital began coverage on PDC Energy in a report on Monday, August 29th. They set a “buy” rating and a $84.00 price target on the stock. Barclays PLC lifted their price target on PDC Energy from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, August 25th. Finally, Wunderlich lifted their price target on PDC Energy from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, August 25th. Eight investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $72.67.
In other PDC Energy news, Director David C. Parke sold 500 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $61.84, for a total transaction of $30,920.00. Following the sale, the director now directly owns 17,717 shares of the company’s stock, valued at $1,095,619.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.
PDC Energy Company 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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