Tortoise Capital Advisors L.L.C. Reduces Holdings in PDC Energy Inc (NASDAQ:PDCE)

Tortoise Capital Advisors L.L.C. lessened its stake in shares of PDC Energy Inc (NASDAQ:PDCE) by 22.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,709 shares of the energy producer’s stock after selling 22,754 shares during the quarter. Tortoise Capital Advisors L.L.C. owned approximately 0.12% of PDC Energy worth $3,761,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PDC Energy by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after purchasing an additional 209 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of PDC Energy during the 2nd quarter valued at $107,000. Flinton Capital Management LLC lifted its holdings in shares of PDC Energy by 67.0% during the 2nd quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after purchasing an additional 1,168 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of PDC Energy by 67.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,528 shares of the energy producer’s stock valued at $195,000 after purchasing an additional 1,828 shares during the last quarter. Finally, Connable Office Inc. purchased a new position in PDC Energy in the 3rd quarter worth $202,000.

PDC Energy Inc (PDCE) traded down $0.58 during mid-day trading on Friday, reaching $51.54. The company had a trading volume of 668,443 shares, compared to its average volume of 868,200. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. PDC Energy Inc has a 12 month low of $36.74 and a 12 month high of $78.61. The firm has a market cap of $3,433.29, a PE ratio of -12.69 and a beta of 0.80.

In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $49.64, for a total value of $49,640.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.91% of the company’s stock.

A number of equities analysts recently issued reports on PDCE shares. Stifel Nicolaus set a $69.00 target price on PDC Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. BMO Capital Markets set a $55.00 target price on PDC Energy and gave the stock a “hold” rating in a research note on Tuesday, November 14th. SunTrust Banks set a $55.00 target price on PDC Energy and gave the stock a “buy” rating in a research note on Sunday, October 29th. KeyCorp restated a “buy” rating and issued a $50.00 target price on shares of PDC Energy in a research note on Tuesday, September 19th. Finally, Barclays increased their price target on PDC Energy from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.60.

COPYRIGHT VIOLATION NOTICE: “Tortoise Capital Advisors L.L.C. Reduces Holdings in PDC Energy Inc (NASDAQ:PDCE)” was reported by Week Herald and is owned by of Week Herald. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://weekherald.com/2017/12/30/tortoise-capital-advisors-l-l-c-decreases-holdings-in-pdc-energy-inc-pdce.html.

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.

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

Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply