Strs Ohio Trims Position in PDC Energy Inc (PDCE)

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Strs Ohio lessened its stake in PDC Energy Inc (NASDAQ:PDCE) by 68.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,600 shares of the energy producer’s stock after selling 3,500 shares during the period. Strs Ohio’s holdings in PDC Energy were worth $47,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in PDC Energy by 7.9% during the 2nd 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 in the last quarter. Nisa Investment Advisors LLC lifted its position in PDC Energy by 13.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 9,760 shares of the energy producer’s stock worth $478,000 after buying an additional 1,190 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in PDC Energy by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 853,555 shares of the energy producer’s stock worth $41,790,000 after buying an additional 47,405 shares in the last quarter. First Trust Advisors LP increased its stake in shares of PDC Energy by 81.2% during the 3rd quarter. First Trust Advisors LP now owns 172,312 shares of the energy producer’s stock worth $8,436,000 after purchasing an additional 77,240 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of PDC Energy by 133.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 11,902 shares of the energy producer’s stock worth $582,000 after purchasing an additional 6,810 shares during the last quarter.

In other news, Director Anthony J. Crisafio sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $34.21, for a total transaction of $51,315.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Shares of PDCE opened at $38.24 on Tuesday. PDC Energy Inc has a 52 week low of $26.59 and a 52 week high of $66.20. The stock has a market capitalization of $2.53 billion, a P/E ratio of -10.99, a P/E/G ratio of 0.47 and a beta of 0.82. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.53.

PDCE has been the topic of several recent analyst reports. MKM Partners initiated coverage on shares of PDC Energy in a research note on Wednesday, December 5th. They set a “buy” rating and a $67.00 price objective on the stock. TD Securities lowered their price objective on shares of PDC Energy from $78.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, November 8th. Williams Capital set a $77.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Zacks Investment Research upgraded shares of PDC Energy from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Saturday, November 3rd. Finally, JPMorgan Chase & Co. set a $40.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research note on Friday, December 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. PDC Energy currently has an average rating of “Buy” and a consensus price target of $62.45.

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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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