Tricadia Capital Management LLC Has $553,000 Stake in PDC Energy Inc (NASDAQ:PDCE)

Tricadia Capital Management LLC reduced its stake in shares of PDC Energy Inc (NASDAQ:PDCE) by 33.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,720 shares of the energy producer’s stock after selling 5,360 shares during the quarter. PDC Energy accounts for 0.3% of Tricadia Capital Management LLC’s portfolio, making the stock its 25th largest position. Tricadia Capital Management LLC’s holdings in PDC Energy were worth $553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. AGF Investments Inc. boosted its holdings in PDC Energy by 72.9% during the fourth quarter. AGF Investments Inc. now owns 26,496 shares of the energy producer’s stock worth $1,366,000 after buying an additional 11,174 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of PDC Energy by 5.2% during the 4th quarter. Whittier Trust Co. now owns 21,113 shares of the energy producer’s stock valued at $1,088,000 after purchasing an additional 1,053 shares in the last quarter. Swiss National Bank lifted its holdings in shares of PDC Energy by 1.8% during the 4th quarter. Swiss National Bank now owns 94,366 shares of the energy producer’s stock valued at $4,864,000 after purchasing an additional 1,700 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of PDC Energy by 3.9% during the 4th quarter. California Public Employees Retirement System now owns 100,800 shares of the energy producer’s stock valued at $5,195,000 after purchasing an additional 3,800 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in PDC Energy by 305.6% in the 4th quarter. Teacher Retirement System of Texas now owns 18,769 shares of the energy producer’s stock valued at $967,000 after buying an additional 14,142 shares during the last quarter.

Shares of PDC Energy Inc (NASDAQ PDCE) traded up $0.36 during trading hours on Monday, reaching $51.86. The company’s stock had a trading volume of 1,347,800 shares, compared to its average volume of 820,470. The company has a market capitalization of $3,416.16, a price-to-earnings ratio of -12.77 and a beta of 0.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. PDC Energy Inc has a 1-year low of $36.74 and a 1-year high of $73.71.

In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $52.08, for a total value of $78,120.00. Following the completion of the sale, the chief executive officer now directly owns 168,101 shares of the company’s stock, valued at $8,754,700.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Scott J. Reasoner sold 1,000 shares of the firm’s stock in a transaction 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 directly owns 62,338 shares of the company’s stock, valued at $3,480,330.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,200 shares of company stock valued at $386,751. Company insiders own 0.91% of the company’s stock.

Several research analysts have weighed in on PDCE shares. Mizuho reaffirmed a “buy” rating and set a $55.00 price target on shares of PDC Energy in a research report on Friday, October 27th. SunTrust Banks set a $55.00 price target on PDC Energy and gave the stock a “buy” rating in a research report on Sunday, October 29th. Stifel Nicolaus reiterated a “buy” rating and set a $81.00 target price (down from $82.00) on shares of PDC Energy in a research note on Tuesday, November 7th. Wolfe Research began coverage on PDC Energy in a research note on Tuesday, November 14th. They set a “market perform” rating for the company. Finally, BMO Capital Markets set a $55.00 price target on PDC Energy and gave the company a “hold” rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. PDC Energy has a consensus rating of “Buy” and an average price target of $67.05.

TRADEMARK VIOLATION NOTICE: This piece was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of international trademark and copyright law. The correct version of this piece can be accessed at https://ledgergazette.com/2018/02/19/pdc-energy-inc-pdce-holdings-cut-by-tricadia-capital-management-llc.html.

PDC Energy Profile

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)

Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply