Capital Fund Management S.A. decreased its stake in shares of PDC Energy, Inc. (NASDAQ:PDCE) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,282 shares of the energy producer’s stock after selling 4,128 shares during the quarter. Capital Fund Management S.A. owned about 0.14% of PDC Energy worth $3,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers grew its position in shares of PDC Energy by 8.7% during the 2nd quarter. Rhumbline Advisers now owns 129,684 shares of the energy producer’s stock worth $5,591,000 after buying an additional 10,360 shares during the period. Thrivent Financial For Lutherans grew its position in shares of PDC Energy by 5.8% during the 1st quarter. Thrivent Financial For Lutherans now owns 31,760 shares of the energy producer’s stock worth $1,980,000 after buying an additional 1,750 shares during the period. Pacer Advisors Inc. grew its position in shares of PDC Energy by 37.5% during the 1st quarter. Pacer Advisors Inc. now owns 6,430 shares of the energy producer’s stock worth $401,000 after buying an additional 1,755 shares during the period. Prudential Financial Inc. grew its position in shares of PDC Energy by 0.5% during the 1st quarter. Prudential Financial Inc. now owns 96,434 shares of the energy producer’s stock worth $6,013,000 after buying an additional 518 shares during the period. Finally, Systematic Financial Management LP grew its position in shares of PDC Energy by 12.7% during the 1st quarter. Systematic Financial Management LP now owns 530,883 shares of the energy producer’s stock worth $33,101,000 after buying an additional 59,999 shares during the period.

Several analysts recently issued reports on PDCE shares. Bank of America Corporation started coverage on shares of PDC Energy in a research report on Wednesday, July 19th. They issued a “buy” rating and a $60.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $82.00 price target on shares of PDC Energy in a research report on Friday, May 26th. Williams Capital set a $67.00 price target on shares of PDC Energy and gave the company a “buy” rating in a research report on Tuesday, August 8th. Mizuho raised shares of PDC Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $53.00 to $55.00 in a research report on Wednesday, August 9th. Finally, Seaport Global Securities raised shares of PDC Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $51.00 in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $71.14.

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PDC Energy, Inc. (NASDAQ:PDCE) opened at 41.56 on Wednesday. PDC Energy, Inc. has a 12-month low of $36.74 and a 12-month high of $84.88. The firm’s 50-day moving average is $41.47 and its 200-day moving average is $51.19. The stock has a market capitalization of $2.72 billion, a P/E ratio of 294.75 and a beta of 0.83.

PDC Energy (NASDAQ:PDCE) last released its earnings results on Tuesday, August 8th. The energy producer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. The firm had revenue of $275.20 million for the quarter, compared to analysts’ expectations of $218.90 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was up 1269.2% on a year-over-year basis. Analysts predict that PDC Energy, Inc. will post $0.20 EPS for the current fiscal year.

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

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