Steven Cohen is Bullish on PDC Energy Inc (PDCE); Reports 5.1% Stake

SAC Capital Advisors, together with its affiliates have boosted their position in PDC Energy Inc (NASDAQ:PDCE). According to the filing with the SEC, Steven Cohen owns around 1.81 million shares of the company, which represent 5.1% of the company’s common stock. In its latest 13F, SAC Capital reported holding just around 21,500 shares of the company.

SAC CAPITAL ADVISORS

PDC Energy Inc (NASDAQ:PDCE) is an independent exploration and production company, which is engaged in production of natural gas, and crude oil. It’s stock gained almost 28% during the past year. Last month, the company reported that it has a capital budget of $647 million for 2014 and that it expects production to be between 9.5 and 10 million BOE, which represents an increase by 34% year-on-year. The crude oil and natural gas liquids production are expected to increase by about 60%.

For the third quarter of last year, PDC Energy Inc (NASDAQ:PDCE) posted a net loss of $0.07 per share, which is significantly down from analysts estimates of $0.23 per share, although up from $0.16 per share posted in the same period of 2012.

Aside from SAC Capital, another investor with a significant stake in PDC Energy Inc (NASDAQ:PDCE) is Ken Griffin‘s Citadel Investment Group, which, in its latest 13F, reported holding 1.44 million shares, down by 35% over the quarter. Another shareholder is Israel Englander‘s Millennium Management, which surged its stake by over a fivefold to some 636,300 shares.

Among the recent moves disclosed by SAC is E-House (China) Holdings Limited (ADR) (NYSE:EJ), in which the fund initiated a 5.6% stake that amasses 7.55 million shares. The fund also surged its stake in Crocs, Inc. (NASDAQ:CROX) to 4.45 million shares, from 1.73 million shares, the stake amassing 5.0% of the common stock.

Disclosure: none

Recommended Reading:

Steadfast Capital Management Boosts Its Stake in Evertec Inc (EVTC)

Pine River Capital Management Buys Into Asiainfo-Linkage Inc (ASIA)

Selz Capital Boosts Stake in Oxford Lane Capital Corp (OXLC)

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!