Prudential Financial Inc. Purchases 69,270 Shares of PDC Energy Inc (PDCE)

Prudential Financial Inc. lifted its position in shares of PDC Energy Inc (NASDAQ:PDCE) by 63.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,262 shares of the energy producer’s stock after buying an additional 69,270 shares during the period. Prudential Financial Inc.’s holdings in PDC Energy were worth $5,335,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in PDC Energy by 1.5% during the fourth quarter. State of Alaska Department of Revenue now owns 22,090 shares of the energy producer’s stock worth $657,000 after acquiring an additional 325 shares in the last quarter. Piedmont Investment Advisors Inc. raised its holdings in PDC Energy by 3.3% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 15,729 shares of the energy producer’s stock worth $468,000 after acquiring an additional 504 shares in the last quarter. Teton Advisors Inc. raised its holdings in PDC Energy by 8.5% during the fourth quarter. Teton Advisors Inc. now owns 7,700 shares of the energy producer’s stock worth $229,000 after acquiring an additional 600 shares in the last quarter. Dubuque Bank & Trust Co. bought a new stake in PDC Energy during the fourth quarter worth about $26,000. Finally, Virginia Retirement Systems ET AL raised its holdings in PDC Energy by 10.2% during the third quarter. Virginia Retirement Systems ET AL now owns 18,400 shares of the energy producer’s stock worth $901,000 after acquiring an additional 1,700 shares in the last quarter.

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Several analysts have issued reports on the company. Zacks Investment Research lowered PDC Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. Citigroup assumed coverage on PDC Energy in a research note on Wednesday, January 23rd. They issued a “buy” rating and a $45.00 price objective on the stock. KeyCorp upped their price objective on PDC Energy from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. MKM Partners set a $55.00 price objective on PDC Energy and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, BidaskClub lowered PDC Energy from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. PDC Energy presently has a consensus rating of “Buy” and an average target price of $60.85.

In other news, Director Anthony J. Crisafio sold 1,500 shares of the stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $34.21, for a total transaction of $51,315.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Shares of NASDAQ PDCE opened at $38.77 on Tuesday. The company has a market cap of $2.45 billion, a PE ratio of -13.10, a PEG ratio of 0.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.38. PDC Energy Inc has a 1-year low of $26.59 and a 1-year high of $66.20.

PDC Energy (NASDAQ:PDCE) last announced its earnings results on Wednesday, February 27th. The energy producer reported ($2.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($2.78). The firm had revenue of $386.40 million for the quarter, compared to the consensus estimate of $360.91 million. PDC Energy had a positive return on equity of 3.64% and a negative net margin of 10.52%. PDC Energy’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter last year, the business posted $1.17 EPS. Equities research analysts predict that PDC Energy Inc will post 2.36 earnings per share for the current year.

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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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