Nokomis Capital L.L.C. trimmed its position in shares of PDC Energy Inc (NASDAQ:PDCE) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,583 shares of the energy producer’s stock after selling 13,600 shares during the period. PDC Energy makes up approximately 3.5% of Nokomis Capital L.L.C.’s holdings, making the stock its 10th biggest holding. Nokomis Capital L.L.C. owned approximately 0.45% of PDC Energy worth $15,389,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. MHI Funds LLC purchased a new stake in shares of PDC Energy during the 4th quarter worth approximately $138,000. First Mercantile Trust Co. raised its holdings in PDC Energy by 93.3% during the 4th quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock valued at $149,000 after buying an additional 1,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PDC Energy by 50.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after buying an additional 1,201 shares during the period. ETRADE Capital Management LLC purchased a new stake in PDC Energy during the 4th quarter valued at $212,000. Finally, CIBC Asset Management Inc purchased a new stake in PDC Energy during the 3rd quarter valued at $216,000.
In other PDC Energy news, EVP Lance Lauck sold 10,000 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $53.95, for a total value of $539,500.00. Following the sale, the executive vice president now owns 100,228 shares in the company, valued at $5,407,300.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Daniel Willson Amidon sold 9,114 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $53.88, for a total value of $491,062.32. Following the completion of the sale, the senior vice president now owns 66,611 shares in the company, valued at approximately $3,589,000.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,814 shares of company stock worth $1,821,178. Insiders own 0.91% of the company’s stock.
Several analysts recently weighed in on the company. BidaskClub upgraded PDC Energy from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th. BMO Capital Markets restated a “hold” rating and set a $58.00 price target on shares of PDC Energy in a report on Thursday, January 11th. KeyCorp set a $65.00 price target on PDC Energy and gave the company a “buy” rating in a report on Sunday, January 21st. Stifel Nicolaus restated a “buy” rating and set a $85.00 price target on shares of PDC Energy in a report on Sunday, January 28th. Finally, Williams Capital restated a “buy” rating and set a $76.00 price target (up previously from $69.00) on shares of PDC Energy in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $66.50.
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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