Lazard Asset Management LLC Acquires 1,217 Shares of PDC Energy, Inc. (NASDAQ:PDCE)

Lazard Asset Management LLC grew its holdings in PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 676.1% during the 2nd quarter, Holdings Channel reports. The fund owned 1,397 shares of the energy producer’s stock after buying an additional 1,217 shares during the period. Lazard Asset Management LLC’s holdings in PDC Energy were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new position in PDC Energy in the second quarter worth approximately $426,000. FCF Advisors LLC bought a new position in PDC Energy in the second quarter worth approximately $632,000. Prospera Financial Services Inc bought a new position in PDC Energy in the first quarter worth approximately $29,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of PDC Energy during the 1st quarter valued at $450,000. Finally, Y Intercept Hong Kong Ltd raised its position in shares of PDC Energy by 325.5% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 15,047 shares of the energy producer’s stock valued at $927,000 after purchasing an additional 11,511 shares during the period. 96.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PDC Energy

In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 2,000 shares of PDC Energy stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $60.54, for a total value of $121,080.00. Following the completion of the transaction, the chief executive officer now directly owns 382,201 shares of the company’s stock, valued at approximately $23,138,448.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other PDC Energy news, Director Lynn A. Peterson sold 7,000 shares of PDC Energy stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $80.12, for a total value of $560,840.00. Following the completion of the transaction, the director now directly owns 261,167 shares of the company’s stock, valued at approximately $20,924,700.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of PDC Energy stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $60.54, for a total transaction of $121,080.00. Following the completion of the transaction, the chief executive officer now directly owns 382,201 shares of the company’s stock, valued at $23,138,448.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,839 shares of company stock worth $4,658,166. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PDCE shares. StockNews.com downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. KeyCorp started coverage on shares of PDC Energy in a research report on Monday, September 19th. They set a “sector weight” rating on the stock. TheStreet upgraded shares of PDC Energy from a “c+” rating to a “b” rating in a research report on Wednesday, August 3rd. The Goldman Sachs Group downgraded shares of PDC Energy from a “buy” rating to a “neutral” rating and set a $74.00 price objective on the stock. in a research report on Tuesday, October 18th. Finally, Truist Financial raised their price objective on shares of PDC Energy from $97.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.75.

PDC Energy Stock Performance

Shares of NASDAQ PDCE opened at $75.21 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $6.93 billion, a P/E ratio of 3.86 and a beta of 2.52. The firm’s fifty day moving average is $68.80 and its two-hundred day moving average is $67.03. PDC Energy, Inc. has a 52-week low of $44.00 and a 52-week high of $89.22.

PDC Energy Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding PDCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDC Energy, Inc. (NASDAQ:PDCEGet Rating).

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.