California Public Employees Retirement System Increases Stock Position in PDC Energy, Inc. (NASDAQ:PDCE)

California Public Employees Retirement System boosted its stake in PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 35.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,825 shares of the energy producer’s stock after purchasing an additional 33,912 shares during the quarter. California Public Employees Retirement System owned about 0.13% of PDC Energy worth $7,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PDCE. Securian Asset Management Inc. bought a new position in PDC Energy during the first quarter valued at approximately $635,000. Envestnet Asset Management Inc. grew its position in PDC Energy by 51.6% during the first quarter. Envestnet Asset Management Inc. now owns 74,364 shares of the energy producer’s stock valued at $5,405,000 after acquiring an additional 25,300 shares during the last quarter. Prospera Financial Services Inc bought a new position in PDC Energy during the first quarter valued at approximately $29,000. ClariVest Asset Management LLC grew its position in PDC Energy by 1.3% during the first quarter. ClariVest Asset Management LLC now owns 21,683 shares of the energy producer’s stock valued at $1,577,000 after acquiring an additional 279 shares during the last quarter. Finally, State of Michigan Retirement System bought a new position in PDC Energy during the first quarter valued at approximately $1,797,000. 96.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com cut 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 note on Monday, September 19th. They issued a “sector weight” rating on the stock. TheStreet raised shares of PDC Energy from a “c+” rating to a “b” rating in a research note 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 target price on the stock. in a research note on Tuesday, October 18th. Finally, Truist Financial lifted their target price on shares of PDC Energy from $97.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, PDC Energy has an average rating of “Moderate Buy” and an average price target of $86.75.

Insider Buying and Selling at PDC Energy

In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $60.54, for a total transaction of $121,080.00. Following 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 legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Lynn A. Peterson sold 7,000 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $80.12, for a total transaction of $560,840.00. Following the sale, the director now owns 261,167 shares in the company, valued at approximately $20,924,700.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $60.54, for a total transaction of $121,080.00. Following the sale, the chief executive officer now owns 382,201 shares in the company, valued at approximately $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 valued at $4,658,166. 1.20% of the stock is currently owned by company insiders.

PDC Energy Stock Down 2.4 %

Shares of PDC Energy stock opened at $75.21 on Thursday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $68.80 and its two-hundred day simple moving average is $67.03. The company has a market cap of $6.93 billion, a P/E ratio of 3.86 and a beta of 2.52. PDC Energy, Inc. has a 12-month low of $44.00 and a 12-month high of $89.22.

PDC Energy Profile

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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.

Further Reading

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

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