OppenheimerFunds Inc. cut its stake in shares of PDC Energy Inc (NASDAQ:PDCE) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,940 shares of the energy producer’s stock after selling 1,737 shares during the period. OppenheimerFunds Inc.’s holdings in PDC Energy were worth $1,130,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Pinnacle Associates Ltd. acquired a new position in shares of PDC Energy during the fourth quarter worth $1,760,000. Virtu Financial LLC increased its holdings in shares of PDC Energy by 165.2% during the fourth quarter. Virtu Financial LLC now owns 13,733 shares of the energy producer’s stock worth $708,000 after buying an additional 8,555 shares in the last quarter. BlackRock Inc. increased its holdings in shares of PDC Energy by 4.5% during the fourth quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock worth $445,509,000 after buying an additional 374,797 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of PDC Energy by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,793,761 shares of the energy producer’s stock worth $92,451,000 after buying an additional 45,612 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of PDC Energy by 15.6% during the fourth quarter. Rhumbline Advisers now owns 162,421 shares of the energy producer’s stock worth $8,371,000 after buying an additional 21,945 shares in the last quarter.
PDCE has been the subject of a number of recent research reports. BMO Capital Markets restated a “hold” rating and issued a $58.00 price objective on shares of PDC Energy in a report on Thursday, January 11th. Imperial Capital increased their price objective on PDC Energy from $73.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Mitsubishi UFJ Financial Group upgraded PDC Energy from a “neutral” rating to an “overweight” rating in a report on Thursday, March 1st. BidaskClub downgraded PDC Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Mizuho restated a “buy” rating and issued a $66.00 price objective on shares of PDC Energy in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $66.50.
In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $52.08, for a total transaction of $78,120.00. Following the completion of the sale, the chief executive officer now directly owns 168,101 shares in the company, valued at approximately $8,754,700.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Daniel Willson Amidon sold 9,114 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $53.88, for a total transaction of $491,062.32. Following the transaction, the senior vice president now directly owns 66,611 shares in the company, valued at approximately $3,589,000.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,814 shares of company stock valued at $1,821,178. Company insiders own 0.91% of the company’s stock.
About PDC Energy
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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