AQR Capital Management LLC Buys 17,162 Shares of PDC Energy Inc (PDCE)
AQR Capital Management LLC grew its stake in PDC Energy Inc (NASDAQ:PDCE) by 27.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 78,954 shares of the energy producer’s stock after buying an additional 17,162 shares during the period. AQR Capital Management LLC’s holdings in PDC Energy were worth $3,866,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Rothschild & Co. Asset Management US Inc. increased its stake in shares of PDC Energy by 0.4% in the third quarter. Rothschild & Co. Asset Management US Inc. now owns 703,045 shares of the energy producer’s stock valued at $34,421,000 after buying an additional 2,575 shares during the period. Panagora Asset Management Inc. grew its stake in PDC Energy by 2.6% during the third quarter. Panagora Asset Management Inc. now owns 66,796 shares of the energy producer’s stock worth $3,270,000 after purchasing an additional 1,703 shares during the period. Rafferty Asset Management LLC grew its stake in PDC Energy by 82.2% during the third quarter. Rafferty Asset Management LLC now owns 6,873 shares of the energy producer’s stock worth $337,000 after purchasing an additional 3,101 shares during the period. Wilks Brothers LLC grew its stake in PDC Energy by 91.1% during the third quarter. Wilks Brothers LLC now owns 160,499 shares of the energy producer’s stock worth $7,858,000 after purchasing an additional 76,499 shares during the period. Finally, Ferox Capital Management LP acquired a new stake in PDC Energy during the third quarter worth approximately $485,000.
PDCE stock opened at $33.57 on Friday. PDC Energy Inc has a twelve month low of $26.59 and a twelve month high of $66.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market capitalization of $2.25 billion, a PE ratio of -9.65, a P/E/G ratio of 0.31 and a beta of 0.80.
Several equities research analysts recently commented on the company. Zacks Investment Research cut PDC Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. BidaskClub raised PDC Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. 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 13th. ValuEngine raised PDC Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. Finally, Capital One Financial cut PDC Energy from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. PDC Energy has an average rating of “Buy” and a consensus target price of $65.45.
In related news, COO Scott J. Reasoner sold 1,341 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $50.43, for a total transaction of $67,626.63. Following the completion of the sale, the chief operating officer now directly owns 73,379 shares of the company’s stock, valued at $3,700,502.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $45.00, for a total value of $67,500.00. Following the sale, the insider now directly owns 200,526 shares of the company’s stock, valued at $9,023,670. The disclosure for this sale can be found here. Insiders sold 3,541 shares of company stock worth $163,176 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.
PDC Energy 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.
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