The stock of PDC Energy Inc (NASDAQ:PDCE) is a huge mover today! About 1.17M shares traded hands or 23.83% up from the average. PDC Energy Inc (NASDAQ:PDCE) has declined 1.57% since April 27, 2016 and is downtrending. It has underperformed by 6.80% the S&P500.
The move comes after 9 months positive chart setup for the $4.02B company. It was reported on Nov, 30 by Barchart.com. We have $75.60 PT which if reached, will make NASDAQ:PDCE worth $120.60M more.
Analysts await PDC Energy Inc (NASDAQ:PDCE) to report earnings on February, 27. They expect $-0.03 EPS, down 110.34% or $0.32 from last year’s $0.29 per share. After $-0.12 actual EPS reported by PDC Energy Inc for the previous quarter, Wall Street now forecasts -75.00% EPS growth.
PDC Energy Inc (NASDAQ:PDCE) Ratings Coverage
Out of 20 analysts covering PDC Energy (NASDAQ:PDCE), 15 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 75% are positive. PDC Energy has been the topic of 44 analyst reports since August 10, 2015 according to StockzIntelligence Inc. BMO Capital Markets maintained it with “Outperform” rating and $72 target price in Tuesday, August 11 report. The stock of PDC Energy Inc (NASDAQ:PDCE) earned “Buy” rating by Wunderlich on Friday, November 6. The stock of PDC Energy Inc (NASDAQ:PDCE) earned “Accumulate” rating by KLR Group on Tuesday, August 11. The stock of PDC Energy Inc (NASDAQ:PDCE) has “Buy” rating given on Monday, August 10 by MLV. Stifel Nicolaus maintained the shares of PDCE in a report on Friday, September 2 with “Buy” rating. As per Tuesday, August 11, the company rating was upgraded by Bank of America. The rating was maintained by Clarkson Platou on Monday, April 11 with “Buy”. The firm has “Outperform” rating by Credit Suisse given on Monday, April 11. Stifel Nicolaus maintained PDC Energy Inc (NASDAQ:PDCE) rating on Friday, April 8. Stifel Nicolaus has “Buy” rating and $70 price target. The stock has “Hold” rating given by Deutsche Bank on Tuesday, June 14.
According to Zacks Investment Research, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado.”
Insitutional Activity: The institutional sentiment increased to 1.97 in 2016 Q2. Its up 0.95, from 1.02 in 2016Q1. The ratio improved, as 45 funds sold all PDC Energy Inc shares owned while 73 reduced positions. 31 funds bought stakes while 89 increased positions. They now own 52.01 million shares or 1.84% less from 52.99 million shares in 2016Q1.
1832 Asset Limited Partnership owns 114,500 shares or 0.03% of their US portfolio. Ladenburg Thalmann Inc has 0% invested in the company for 257 shares. Moreover, Arizona State Retirement has 0.02% invested in PDC Energy Inc (NASDAQ:PDCE) for 24,099 shares. Tudor Investment Corp Et Al last reported 10,436 shares in the company. Whittier Trust Com Of Nevada has 320 shares for 0% of their US portfolio. Envestnet Asset has 0% invested in the company for 3,249 shares. Ubs Asset Americas Inc accumulated 0.02% or 293,800 shares. The New Jersey-based Blackrock Investment Management Ltd Com has invested 0.02% in PDC Energy Inc (NASDAQ:PDCE). Wealthtrust owns 117 shares or 0% of their US portfolio. Price T Rowe Assocs Incorporated Md has 2.04M shares for 0.02% of their US portfolio. Amer Century Incorporated accumulated 0% or 50,417 shares. King Luther Cap Mngmt accumulated 247,840 shares or 0.14% of the stock. Suntrust Banks holds 0% of its portfolio in PDC Energy Inc (NASDAQ:PDCE) for 6,676 shares. Checchi Capital Advisers Limited Liability Corp accumulated 1,535 shares or 0.01% of the stock. The Delaware-based Kalmar Invs De has invested 1.21% in PDC Energy Inc (NASDAQ:PDCE).
Insider Transactions: Since July 1, 2016, the stock had 0 buys, and 7 insider sales for $789,677 net activity. Shares for $373,960 were sold by Amidon Daniel Willson. 1,200 PDC Energy Inc (NASDAQ:PDCE) shares with value of $82,920 were sold by SWOVELAND JEFFREY C. Shares for $138,200 were sold by WAKIM KIMBERLY LUFF on Tuesday, November 22. Another trade for 500 shares valued at $32,030 was sold by PARKE DAVID C.
More news for PDC Energy Inc (NASDAQ:PDCE) were recently published by: Bloomberg.com, which released: “PDC Energy Joins Permian Oil Rush With $1.5 Billion Acquisition” on August 23, 2016. Seekingalpha.com‘s article titled: “PDC Energy Is A Well Capitalized Growth Oil Company” and published on November 17, 2016 is yet another important article.
PDCE Company Profile
PDC Energy, Inc., incorporated on June 5, 2015, is an independent exploration and production company. The Firm produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with activities in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Firm operates through two divisions: Oil and Gas Exploration and Production, and Gas Marketing. The Company’s Oil and Gas Exploration and Production segment includes all of its natural gas and crude oil properties. The Company’s Gas Marketing segment purchases, aggregates and resells natural gas produced by it and others. The Company’s activities in the Wattenberg Field are focused in the horizontal Niobrara and Codell plays and its Ohio activities are focused in the Utica Shale play. The Firm owns an interest in approximately 3,000 gross producing wells, of which approximately 650 are horizontal. The Firm has approximately 270 million barrels of oil equivalent (MMBoe) of proved reserves, which comprises approximately 60% liquids and over 40% natural gas.
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