Aigen Investment Management LP Invests $581,000 in PDC Energy, Inc. (NASDAQ:PDCE)

Aigen Investment Management LP acquired a new stake in PDC Energy, Inc. (NASDAQ:PDCE) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,895 shares of the energy producer’s stock, valued at approximately $581,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in shares of PDC Energy by 595.2% in the fourth quarter. Jennison Associates LLC now owns 2,881,926 shares of the energy producer’s stock valued at $59,166,000 after buying an additional 2,467,376 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of PDC Energy in the first quarter valued at approximately $3,908,000. Outfitter Financial LLC acquired a new position in shares of PDC Energy in the first quarter valued at approximately $288,000. Aperio Group LLC increased its stake in shares of PDC Energy by 2.5% in the fourth quarter. Aperio Group LLC now owns 103,314 shares of the energy producer’s stock valued at $2,121,000 after buying an additional 2,568 shares during the period. Finally, KBC Group NV acquired a new position in shares of PDC Energy in the first quarter valued at approximately $49,000.

In related news, Director Lynn A. Peterson sold 5,000 shares of PDC Energy stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $46.65, for a total value of $233,250.00. Following the completion of the sale, the director now owns 225,377 shares of the company’s stock, valued at approximately $10,513,837.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Randy S. Nickerson sold 7,298 shares of PDC Energy stock in a transaction dated Wednesday, May 12th. The stock was sold at an average price of $41.55, for a total value of $303,231.90. Following the completion of the sale, the director now directly owns 14,479 shares of the company’s stock, valued at approximately $601,602.45. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of PDC Energy from a “strong-buy” rating to a “hold” rating and set a $39.00 target price for the company. in a research report on Tuesday, March 2nd. TD Securities increased their target price on shares of PDC Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, May 7th. KeyCorp increased their target price on shares of PDC Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday. Seaport Global Securities reissued a “buy” rating on shares of PDC Energy in a research report on Monday, April 5th. Finally, TheStreet raised shares of PDC Energy from a “d+” rating to a “c-” rating in a research report on Tuesday, March 16th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $33.08.

Shares of NASDAQ:PDCE opened at $47.18 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company’s fifty day moving average is $39.15. PDC Energy, Inc. has a 1-year low of $10.60 and a 1-year high of $47.99. The company has a market cap of $4.59 billion, a PE ratio of -17.47 and a beta of 3.41.

PDC Energy (NASDAQ:PDCE) last released its earnings results on Wednesday, May 5th. The energy producer reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.58. The company had revenue of $286.04 million for the quarter, compared to analysts’ expectations of $396.93 million. PDC Energy had a positive return on equity of 14.11% and a negative net margin of 30.91%. Equities research analysts forecast that PDC Energy, Inc. will post 4.3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 24th. Investors of record on Thursday, June 10th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.02%. The ex-dividend date is Wednesday, June 9th.

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

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