CIBC Asset Management Inc raised its stake in PDC Energy Inc (NASDAQ:PDCE) by 86.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,220 shares of the energy producer’s stock after purchasing an additional 3,809 shares during the quarter. CIBC Asset Management Inc’s holdings in PDC Energy were worth $424,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its position in PDC Energy by 24.0% in the second quarter. Ameritas Investment Partners Inc. now owns 5,805 shares of the energy producer’s stock valued at $250,000 after purchasing an additional 1,123 shares during the last quarter. Moody Aldrich Partners LLC lifted its position in PDC Energy by 14.9% in the third quarter. Moody Aldrich Partners LLC now owns 8,741 shares of the energy producer’s stock valued at $429,000 after purchasing an additional 1,136 shares during the last quarter. Flinton Capital Management LLC lifted its position in PDC Energy by 67.0% in the second quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after purchasing an additional 1,168 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in PDC Energy by 50.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after purchasing an additional 1,201 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in PDC Energy by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 50,613 shares of the energy producer’s stock valued at $2,482,000 after purchasing an additional 1,362 shares during the last quarter.

Several analysts have weighed in on PDCE shares. BMO Capital Markets reiterated a “hold” rating and issued a $58.00 price objective on shares of PDC Energy in a research report on Thursday, January 11th. Imperial Capital boosted their price objective on PDC Energy from $73.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $81.00 price objective (down previously from $82.00) on shares of PDC Energy in a research report on Tuesday, November 7th. Mizuho reiterated a “buy” rating and issued a $66.00 price objective on shares of PDC Energy in a research report on Wednesday, January 17th. Finally, Zacks Investment Research downgraded PDC Energy from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.05.

In related news, COO Scott J. Reasoner sold 1,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total value of $55,830.00. Following the sale, the chief operating officer now directly owns 62,338 shares of the company’s stock, valued at $3,480,330.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $52.08, for a total value of $78,120.00. Following the completion of the sale, the chief executive officer now directly owns 168,101 shares in the company, valued at $8,754,700.08. The disclosure for this sale can be found here. Insiders have sold 7,200 shares of company stock worth $386,751 over the last three months. Insiders own 0.91% of the company’s stock.

PDC Energy Inc (NASDAQ:PDCE) opened at $48.35 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. PDC Energy Inc has a 12 month low of $36.74 and a 12 month high of $73.71. The stock has a market capitalization of $3,198.12, a P/E ratio of 124.49 and a beta of 0.68.

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PDC Energy Profile

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.

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

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