November 23, 2016 - By Peter Erickson
A calculated and judicious act was made by the Sr. VP – General Counsel & Sec. of Pdc Energy Inc, Mr. Daniel Amidon, yesterday, when he unloaded number of shares – 5,441, totalling $373,960 US Dollars, which is based on a market stock price of $68.7 per each share. Daniel Amidon currently owns 66,071 shares which are about 0.12% of the Colorado-based company’s market cap.
Out of 20 analysts covering PDC Energy (NASDAQ:PDCE), 15 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 75% are positive. $85 is the highest target while $55 is the lowest. The $72.45 average target is 3.13% above today’s ($70.25) stock price. PDC Energy has been the topic of 44 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Clarkson Platou maintained the stock with “Buy” rating in Monday, April 11 report. The firm has “Outperform” rating given on Tuesday, August 11 by BMO Capital Markets. The rating was upgraded by Stephens to “Overweight” on Wednesday, August 24. Williams Capital Group initiated it with “Buy” rating and $84 target price in Monday, August 29 report. The stock has “Outperform” rating given by Credit Suisse on Friday, August 21. Barclays Capital maintained PDC Energy Inc (NASDAQ:PDCE) on Tuesday, November 10 with “Overweight” rating. The stock of PDC Energy Inc (NASDAQ:PDCE) earned “Outperform” rating by RBC Capital Markets on Friday, November 6. The firm has “Buy” rating by Wunderlich given on Thursday, August 25. Wells Fargo downgraded PDC Energy Inc (NASDAQ:PDCE) on Monday, May 23 to “Market Perform” rating. The stock of PDC Energy Inc (NASDAQ:PDCE) has “Buy” rating given on Friday, November 6 by Wunderlich.
Insitutional Activity: The institutional sentiment increased to 1.97 in Q2 2016. 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.
Paradigm Asset Management Co Ltd Limited Liability Company owns 2,200 shares or 0% of their US portfolio. Cubist Systematic Strategies Limited Liability accumulated 304 shares or 0% of the stock. Stephens Group Ltd Llc accumulated 229,570 shares or 0.43% of the stock. Moreover, Woodstock Corp has 0.24% invested in PDC Energy Inc (NASDAQ:PDCE) for 20,292 shares. Ladenburg Thalmann Fincl Services owns 257 shares or 0% of their US portfolio. Pnc Grp Inc has 0% invested in the company for 4,971 shares. Lombard Odier Asset Mngmt (Europe) has invested 0.04% of its portfolio in PDC Energy Inc (NASDAQ:PDCE). Ny State Teachers Retirement System has 0.02% invested in the company for 100,655 shares. Stifel holds 0% or 16,501 shares in its portfolio. Secor Cap L P holds 0.07% or 9,336 shares in its portfolio. Jennison Assocs Ltd Liability Com has invested 0.11% of its portfolio in PDC Energy Inc (NASDAQ:PDCE). Bridgeway Mngmt holds 0.01% of its portfolio in PDC Energy Inc (NASDAQ:PDCE) for 13,100 shares. Mutual Of America Capital Ltd Com last reported 57,328 shares in the company. Art Advsr Ltd Limited Liability Company has invested 0.02% of its portfolio in PDC Energy Inc (NASDAQ:PDCE). Pub Sector Pension Inv Board holds 0.02% or 32,831 shares in its portfolio.
Insider Transactions: Since July 1, 2016, the stock had 0 buys, and 3 sales for $86,066 net activity. 500 PDC Energy Inc (NASDAQ:PDCE) shares with value of $32,030 were sold by PARKE DAVID C.
The stock increased 1.21% or $0.84 during the last trading session, hitting $70.25. About 604,035 shares traded hands. PDC Energy Inc (NASDAQ:PDCE) has risen 9.79% since April 21, 2016 and is uptrending. It has outperformed by 4.46% the S&P500.
PDC Energy, Inc. is an independent exploration and production company. The company has a market cap of $3.97 billion. The Firm produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids with activities in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. It currently has negative earnings. The Firm operates through two divisions: Oil and Gas Exploration and Production, and Gas Marketing.
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.”
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.
More important recent PDC Energy Inc (NASDAQ:PDCE) news were published by: Seekingalpha.com which released: “PDC Energy Is A Well Capitalized Growth Oil Company” on November 17, 2016, also Bloomberg.com published article titled: “PDC Energy Joins Permian Oil Rush With $1.5 Billion Acquisition”, Globenewswire.com published: “PDC Energy Announces Pricing and Upsizing of Public Offerings of Common Stock ..” on September 09, 2016. More interesting news about PDC Energy Inc (NASDAQ:PDCE) was released by: Globenewswire.com and their article: “PDC Energy Announces Proposed Private Debt Offering” with publication date: September 12, 2016.
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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