Teachers Retirement System of The State of Kentucky cut its holdings in PDC Energy, Inc. (NASDAQ:PDCE) by 56.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 39,117 shares of the energy producer’s stock after selling 50,711 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.06% of PDC Energy worth $1,686,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Miles Capital Inc. raised its holdings in PDC Energy by 0.3% in the 1st quarter. Miles Capital Inc. now owns 3,888 shares of the energy producer’s stock valued at $242,000 after acquiring an additional 11 shares during the last quarter. Honkamp Krueger Financial Services Inc. raised its holdings in PDC Energy by 0.3% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 13,424 shares of the energy producer’s stock valued at $579,000 after acquiring an additional 40 shares during the last quarter. Amalgamated Bank raised its holdings in PDC Energy by 0.9% in the 1st quarter. Amalgamated Bank now owns 7,120 shares of the energy producer’s stock valued at $444,000 after acquiring an additional 64 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in PDC Energy by 2.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,784 shares of the energy producer’s stock valued at $236,000 after acquiring an additional 93 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in PDC Energy by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 29,199 shares of the energy producer’s stock valued at $1,259,000 after acquiring an additional 100 shares during the last quarter.

Several research analysts have weighed in on PDCE shares. BidaskClub downgraded PDC Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, June 29th. BMO Capital Markets reiterated a “hold” rating and issued a $48.00 price target on shares of PDC Energy in a report on Friday, September 1st. Seaport Global Securities downgraded PDC Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $89.00 to $46.00 in a report on Wednesday, June 21st. Bank of America Corporation started coverage on PDC Energy in a report on Wednesday, July 19th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Scotiabank reiterated a “hold” rating and issued a $60.00 price target on shares of PDC Energy in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $70.48.

Shares of PDC Energy, Inc. (PDCE) opened at 48.12 on Thursday. The company’s 50-day moving average is $42.68 and its 200-day moving average is $48.91. PDC Energy, Inc. has a 12 month low of $36.74 and a 12 month high of $84.88. The stock has a market capitalization of $3.14 billion, a PE ratio of 341.28 and a beta of 0.84.

PDC Energy (NASDAQ:PDCE) last posted its earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.20. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. The business had revenue of $275.20 million for the quarter, compared to analyst estimates of $218.90 million. During the same period last year, the business posted ($0.11) EPS. PDC Energy’s revenue was up 1269.2% compared to the same quarter last year. Equities research analysts expect that PDC Energy, Inc. will post $0.22 earnings per share for the current fiscal year.

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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.

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

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