As Pdc Energy INC (PDCE) Share Price Declined, Shareholder Mangrove Partners Lowered Stake

October 2, 2018 - By Michael Collier

PDC Energy, Inc. (NASDAQ:PDCE) LogoInvestors sentiment decreased to 1.55 in Q2 2018. Its down 0.03, from 1.58 in 2018Q1. It worsened, as 13 investors sold PDCE shares while 63 reduced holdings. 33 funds opened positions while 85 raised stakes. 66.15 million shares or 2.07% more from 64.81 million shares in 2018Q1 were reported. Millennium Mngmt Limited Liability holds 0.01% or 82,836 shares. Td Asset Mngmt Inc reported 23,302 shares. Dupont Mngmt reported 0.02% of its portfolio in PDC Energy, Inc. (NASDAQ:PDCE). California State Teachers Retirement System invested 0.01% of its portfolio in PDC Energy, Inc. (NASDAQ:PDCE). Stifel Financial Corp stated it has 16,868 shares. The West Virginia-based Wesbanco National Bank & Trust has invested 0.04% in PDC Energy, Inc. (NASDAQ:PDCE). Van Eck Associate Corp holds 0.53% or 1.87M shares in its portfolio. Blackrock Incorporated stated it has 9.25 million shares or 0.03% of all its holdings. Magnetar Lc holds 0.01% or 5,274 shares in its portfolio. Loomis Sayles Ltd Partnership holds 497,434 shares or 0.06% of its portfolio. Guggenheim Capital Ltd Co stated it has 0% in PDC Energy, Inc. (NASDAQ:PDCE). Principal Grp Inc has invested 0.03% of its portfolio in PDC Energy, Inc. (NASDAQ:PDCE). Jcic Asset Mgmt invested 0% in PDC Energy, Inc. (NASDAQ:PDCE). Cibc Asset Mngmt invested in 8,343 shares. Causeway Capital Ltd owns 89 shares.

Since April 2, 2018, it had 0 insider buys, and 13 sales for $1.64 million activity. $91,365 worth of PDC Energy, Inc. (NASDAQ:PDCE) was sold by BROOKMAN BARTON R JR on Friday, June 1. $26,250 worth of PDC Energy, Inc. (NASDAQ:PDCE) was sold by Lauck Lance. PARKE DAVID C had sold 600 shares worth $31,818. On Thursday, May 17 Amidon Daniel Willson sold $507,398 worth of PDC Energy, Inc. (NASDAQ:PDCE) or 8,045 shares. Shares for $224,680 were sold by SWOVELAND JEFFREY C. $244,000 worth of PDC Energy, Inc. (NASDAQ:PDCE) was sold by Mazza Larry F.

Mangrove Partners decreased its stake in Pdc Energy Inc (PDCE) by 9.93% based on its latest 2018Q2 regulatory filing with the SEC. Mangrove Partners sold 73,851 shares as the company’s stock declined 22.25% while stock markets rallied. The hedge fund held 669,541 shares of the energy company at the end of 2018Q2, valued at $40.47M, down from 743,392 at the end of the previous reported quarter. Mangrove Partners who had been investing in Pdc Energy Inc for a number of months, seems to be less bullish one the $3.21 billion market cap company. The stock decreased 0.49% or $0.24 during the last trading session, reaching $48.52. About 272,908 shares traded. PDC Energy, Inc. (NASDAQ:PDCE) has risen 13.09% since October 2, 2017 and is uptrending. It has underperformed by 2.53% the S&P500.

Analysts await PDC Energy, Inc. (NASDAQ:PDCE) to report earnings on November, 5. They expect $0.73 earnings per share, up 812.50 % or $0.65 from last year’s $0.08 per share. PDCE’s profit will be $48.24 million for 16.62 P/E if the $0.73 EPS becomes a reality. After $0.56 actual earnings per share reported by PDC Energy, Inc. for the previous quarter, Wall Street now forecasts 30.36 % EPS growth.

More news for PDC Energy, Inc. (NASDAQ:PDCE) were recently published by: Globenewswire.com, which released: “Report: Developing Opportunities within Sabra Healthcare REIT, MGP Ingredients, Garmin, Noble Midstream Partners …” on September 25, 2018. Bizjournals.com‘s article titled: “List Extra: The five fastest-growing oil and gas companies in Colorado, and where they’re drilling” and published on September 24, 2018 is yet another important article.

PDC Energy, Inc. (NASDAQ:PDCE) Ratings Coverage

Among 13 analysts covering PDC Energy (NASDAQ:PDCE), 12 have Buy rating, 0 Sell and 1 Hold. Therefore 92% are positive. PDC Energy had 16 analyst reports since April 4, 2018 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, April 4 by Deutsche Bank. The firm earned “Overweight” rating on Monday, July 23 by JP Morgan. The firm earned “Buy” rating on Thursday, May 3 by Stifel Nicolaus. The company was upgraded on Thursday, April 12 by Goldman Sachs. As per Thursday, August 9, the company rating was maintained by Stifel Nicolaus. Johnson Rice upgraded PDC Energy, Inc. (NASDAQ:PDCE) on Monday, May 14 to “Buy” rating. Williams Capital Group maintained the shares of PDCE in report on Thursday, May 3 with “Buy” rating. The firm has “Overweight” rating by KeyBanc Capital Markets given on Thursday, May 24. The firm earned “Buy” rating on Tuesday, April 24 by Stephens. The stock of PDC Energy, Inc. (NASDAQ:PDCE) has “Buy” rating given on Monday, April 23 by Stifel Nicolaus.

PDC Energy, Inc. (NASDAQ:PDCE) Institutional Positions Chart

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