Pacer Advisors Inc. Reduces Holdings in PDC Energy, Inc. (NASDAQ:PDCE)

Pacer Advisors Inc. trimmed its position in shares of PDC Energy, Inc. (NASDAQ:PDCE) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,409,858 shares of the energy producer’s stock after selling 108,844 shares during the quarter. Pacer Advisors Inc. owned 1.62% of PDC Energy worth $100,297,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PDCE. Natixis purchased a new stake in shares of PDC Energy during the fourth quarter valued at $25,000. Belpointe Asset Management LLC purchased a new stake in shares of PDC Energy during the fourth quarter valued at $27,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of PDC Energy by 2,600.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 459 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 442 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of PDC Energy by 129.5% in the first quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 250 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of PDC Energy in the first quarter valued at about $41,000. 95.18% of the stock is owned by hedge funds and other institutional investors.

PDC Energy Stock Performance

Shares of NASDAQ:PDCE remained flat at $73.85 during midday trading on Tuesday. PDC Energy, Inc. has a 12 month low of $51.85 and a 12 month high of $82.24. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 3.69, a price-to-earnings-growth ratio of 0.16 and a beta of 2.47. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $73.73 and its two-hundred day moving average price is $69.29.

PDC Energy (NASDAQ:PDCE) last announced its earnings results on Tuesday, August 1st. The energy producer reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.95 by ($0.30). PDC Energy had a net margin of 43.85% and a return on equity of 28.47%. The business had revenue of $871.81 million for the quarter, compared to analysts’ expectations of $801.61 million. As a group, research analysts forecast that PDC Energy, Inc. will post 12.27 EPS for the current year.

Analyst Upgrades and Downgrades

PDCE has been the subject of a number of recent research reports. Seaport Res Ptn downgraded shares of PDC Energy from a “buy” rating to a “neutral” rating in a report on Tuesday, July 18th. StockNews.com initiated coverage on shares of PDC Energy in a report on Wednesday, September 13th. They issued a “hold” rating for the company. Truist Financial reduced their target price on shares of PDC Energy from $77.00 to $74.00 in a report on Monday, July 24th. Finally, Mizuho downgraded shares of PDC Energy from a “buy” rating to a “neutral” rating in a report on Wednesday, May 24th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, PDC Energy has an average rating of “Hold” and a consensus price target of $80.75.

Insider Buying and Selling at PDC Energy

In other PDC Energy news, CFO R Scott Meyers sold 2,500 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $70.87, for a total value of $177,175.00. Following the transaction, the chief financial officer now owns 154,910 shares in the company, valued at approximately $10,978,471.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

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. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.