Alliancebernstein L.P. grew its position in PDC Energy, Inc. (NASDAQ:PDCE) by 34.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 838,937 shares of the energy producer’s stock after acquiring an additional 215,130 shares during the period. Alliancebernstein L.P. owned 1.29% of PDC Energy worth $36,167,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in PDCE. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PDC Energy by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after acquiring an additional 209 shares during the last quarter. Integrated Investment Consultants LLC lifted its stake in shares of PDC Energy by 27.7% in the 2nd quarter. Integrated Investment Consultants LLC now owns 2,525 shares of the energy producer’s stock valued at $109,000 after acquiring an additional 547 shares during the last quarter. Invictus RG lifted its stake in shares of PDC Energy by 11.2% in the 1st quarter. Invictus RG now owns 2,151 shares of the energy producer’s stock valued at $134,000 after acquiring an additional 216 shares during the last quarter. Dubuque Bank & Trust Co. lifted its stake in shares of PDC Energy by 38.0% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,262 shares of the energy producer’s stock valued at $141,000 after acquiring an additional 899 shares during the last quarter. Finally, Meadow Creek Investment Management LLC lifted its stake in shares of PDC Energy by 19.8% in the 1st quarter. Meadow Creek Investment Management LLC now owns 2,398 shares of the energy producer’s stock valued at $150,000 after acquiring an additional 396 shares during the last quarter.

PDCE has been the subject of several analyst reports. Bank of America Corporation initiated coverage on PDC Energy in a research report on Wednesday, July 19th. They set a “buy” rating and a $60.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 target price on shares of PDC Energy in a research report on Friday, May 26th. Williams Capital set a $67.00 target price on PDC Energy and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Mizuho raised PDC Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $53.00 to $55.00 in a research report on Wednesday, August 9th. Finally, Seaport Global Securities raised PDC Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $51.00 in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $71.14.

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PDC Energy, Inc. (NASDAQ PDCE) opened at 43.80 on Monday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 310.64 and a beta of 0.83. PDC Energy, Inc. has a 52-week low of $36.74 and a 52-week high of $84.88. The stock’s 50 day moving average is $41.03 and its 200-day moving average is $50.67.

PDC Energy (NASDAQ:PDCE) last posted its earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.20. The company had revenue of $275.20 million during the quarter, compared to analysts’ expectations of $218.90 million. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. PDC Energy’s quarterly revenue was up 1269.2% on a year-over-year basis. During the same period last year, the company posted ($0.11) earnings per share. Equities research analysts anticipate that PDC Energy, Inc. will post $0.20 EPS for the current fiscal year.

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.

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

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