GYL Financial Synergies LLC purchased a new stake in shares of PDC Energy Inc (NASDAQ:PDCE) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,463 shares of the energy producer’s stock, valued at approximately $304,000.
Several other institutional investors also recently bought and sold shares of PDCE. Arizona State Retirement System increased its stake in PDC Energy by 0.3% in the first quarter. Arizona State Retirement System now owns 102,042 shares of the energy producer’s stock valued at $4,151,000 after acquiring an additional 280 shares during the period. Oregon Public Employees Retirement Fund grew its stake in PDC Energy by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,592 shares of the energy producer’s stock worth $1,041,000 after buying an additional 462 shares during the last quarter. Piedmont Investment Advisors Inc. grew its stake 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 buying an additional 504 shares during the last quarter. Versant Capital Management Inc grew its stake in PDC Energy by 47.0% during the first quarter. Versant Capital Management Inc now owns 1,627 shares of the energy producer’s stock worth $66,000 after buying an additional 520 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in PDC Energy by 0.3% during the fourth quarter. Legal & General Group Plc now owns 166,815 shares of the energy producer’s stock worth $4,928,000 after buying an additional 521 shares during the last quarter.
PDCE has been the topic of several research analyst reports. Imperial Capital reaffirmed an “in-line” rating and set a $29.00 price objective (down from $33.00) on shares of Whiting Petroleum in a research note on Friday, May 3rd. Zacks Investment Research cut shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. Cowen set a $27.00 price target on shares of Schnitzer Steel Industries and gave the company a “hold” rating in a research note on Tuesday, April 9th. Finally, Williams Capital set a $30.00 price objective on shares of Mdu Resources Group and gave the company a “buy” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $59.63.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Wednesday, May 1st. The energy producer reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.29). The firm had revenue of $134.50 million for the quarter, compared to analysts’ expectations of $325.83 million. PDC Energy had a negative return on equity of 2.50% and a negative net margin of 7.38%. The firm’s revenue was down 48.4% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. On average, analysts expect that PDC Energy Inc will post 2.53 EPS for the current year.
In related news, Director Mark E. Ellis purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were bought at an average price of $37.30 per share, for a total transaction of $373,000.00. Following the acquisition, the director now owns 17,752 shares of the company’s stock, valued at approximately $662,149.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Scott J. Reasoner sold 1,714 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $44.01, for a total value of $75,433.14. Following the sale, the chief operating officer now owns 90,113 shares in the company, valued at approximately $3,965,873.13. The disclosure for this sale can be found here. Insiders have sold a total of 2,714 shares of company stock worth $120,058 over the last ninety days. Insiders own 1.00% of the company’s stock.
PDC Energy Company Profile
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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.
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