Whittier Trust Co. lifted its stake in shares of PDC Energy Inc (NASDAQ:PDCE) by 5.2% in the fourth quarter, Holdings Channel reports. The fund owned 21,113 shares of the energy producer’s stock after acquiring an additional 1,053 shares during the quarter. Whittier Trust Co.’s holdings in PDC Energy were worth $1,088,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PDCE. Flinton Capital Management LLC increased its holdings 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 worth $126,000 after purchasing an additional 1,168 shares in the last quarter. MHI Funds LLC bought a new stake in PDC Energy in the fourth quarter worth approximately $138,000. First Mercantile Trust Co. increased its holdings in PDC Energy by 93.3% in the fourth quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock worth $149,000 after purchasing an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 worth $185,000 after purchasing an additional 1,201 shares in the last quarter. Finally, Connable Office Inc. bought a new stake in PDC Energy in the third quarter worth approximately $202,000.

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

Shares of PDC Energy Inc (NASDAQ PDCE) opened at $48.35 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. PDC Energy Inc has a one year low of $36.74 and a one year high of $73.71. The company has a market capitalization of $3,198.12, a P/E ratio of -11.91 and a beta of 0.68.

In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey C. Swoveland sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total value of $94,911.00. Following the completion of the sale, the director now directly owns 21,519 shares of the company’s stock, valued at approximately $1,201,405.77. The disclosure for this sale can be found here. Insiders sold 7,200 shares of company stock valued at $386,751 in the last three months. Insiders own 0.91% of the company’s stock.

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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.

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

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