Published on 12 Jul 2023 on Insider Monkey via Yahoo Finance

Here’s Why Oakmark Equity and Income Fund is Holding PDC Energy (PDCE)

Oakmark Funds, advised by Harris Associates, released its “Oakmark Equity and Income Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The fund increased 5.3% in the second quarter compared to a 3.2% return for the Lipper Balanced Fund Index. For the calendar year to date, the fund returned 8.8% compared to a 7.6% return for the benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Oakmark Equity and Income Fund highlighted stocks like PDC Energy, Inc. (NASDAQ:PDCE) in the second quarter 2023 investor letter. Headquartered in Denver, Colorado, PDC Energy, Inc. (NASDAQ:PDCE) engages in the exploration and production of oil and natural gas. On July 11, 2023, PDC Energy, Inc. (NASDAQ:PDCE) stock closed at $73.24 per share. One-month return of PDC Energy, Inc. (NASDAQ:PDCE) was 3.24%, and its shares gained 33.53% of their value over the last 52 weeks. PDC Energy, Inc. (NASDAQ:PDCE) has a market capitalization of $6.37 billion.

Oakmark Equity and Income Fund made the following comment about PDC Energy, Inc. (NASDAQ:PDCE) in its second quarter 2023 investor letter: