Insider Filings: Is PDC Energy Inc (NASDAQ:PDCE) Stock a Sell after Daniel Amidon’s Insider Trading?

November 29, 2016 - By whatsonthorold

Insider Filings: Is PDC Energy Inc (NASDAQ:PDCE) Stock a Sell after Daniel Amidon's Insider Trading?

Daniel Amidon Insider Sell

As published in the Security and Exchange Commission, a legal document for the trade of 1,550 shares of Pdc Energy Inc by Daniel Amidon was filled. Daniel Amidon now serves as a Sr. VP – General Counsel & Sec. of the ‘s company. The report was filled on November 28, 2016. These transaction’s shares were unloaded at average $70.0 of a share, and are valued at $108,531 U.S. Dollars. It seems he is very active lately as in the last 30 days, he silently sold additional 5,441 shares of the company, worth $373,960 USD. This transaction decreased his ownership of Pdc Energy Inc to 0.12% market capitalization or 64,521 shares.

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. $85 is the highest target while $55 is the lowest. The $72.45 average target is 9.56% above today’s ($66.13) stock price. PDC Energy has been the topic of 44 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, April 8 by Stifel Nicolaus. Stephens upgraded PDC Energy Inc (NASDAQ:PDCE) on Wednesday, August 24 to “Overweight” rating. Topeka Capital Markets maintained it with “Buy” rating and $72 target price in Thursday, January 21 report. Barclays Capital maintained it with “Overweight” rating and $70 target price in Tuesday, November 10 report. The stock of PDC Energy Inc (NASDAQ:PDCE) earned “Neutral” rating by Mizuho on Thursday, October 6. The stock has “Overweight” rating given by Barclays Capital on Wednesday, August 10. On Monday, April 11 the stock rating was maintained by Clarkson Platou with “Buy”. Seaport Global Securities upgraded the stock to “Buy” rating in Tuesday, August 30 report. Wunderlich maintained it with “Buy” rating and $76 target price in Monday, September 12 report. The rating was downgraded by Wells Fargo to “Market Perform” on Monday, May 23.

Insitutional Activity: The institutional sentiment increased to 1.97 in 2016 Q2. Its up 0.95, from 1.02 in 2016Q1. The ratio increased, 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.

Secor Capital Advsr L P has 0.07% invested in the company for 9,336 shares. Schroder Inv Management Gp holds 738,300 shares or 0.09% of its portfolio. Picton Mahoney Asset Mgmt has invested 0% of its portfolio in PDC Energy Inc (NASDAQ:PDCE). Mitchell Grp Inc last reported 3.51% of its portfolio in the stock. Kcg last reported 0.01% of its portfolio in the stock. Investors Asset Of Georgia Inc Ga Adv last reported 28,766 shares in the company. Guggenheim Cap Llc owns 10,950 shares or 0% of their US portfolio. Bnp Paribas Invest Prns Sa holds 88,903 shares or 0.04% of its portfolio. Moreover, Renaissance Technologies Lc has 0.03% invested in PDC Energy Inc (NASDAQ:PDCE) for 268,939 shares. State Of Tennessee Treasury Department holds 0.04% of its portfolio in PDC Energy Inc (NASDAQ:PDCE) for 126,558 shares. Metropolitan Life Insur Communication Ny last reported 33,520 shares in the company. State Common Retirement Fund accumulated 307,985 shares or 0.03% of the stock. Victory Cap Management Inc holds 0.45% of its portfolio in PDC Energy Inc (NASDAQ:PDCE) for 1.96 million shares. Blackrock Mgmt Limited Liability holds 210,647 shares or 0.02% of its portfolio. Tributary Limited Liability Co has 86,347 shares for 0.73% of their US portfolio.

Insider Transactions: Since July 1, 2016, the stock had 0 buys, and 5 insider sales for $598,226 net activity. Shares for $23,116 were sold by PARKE DAVID C. Shares for $138,200 were sold by WAKIM KIMBERLY LUFF. 5,441 shares were sold by Amidon Daniel Willson, worth $373,960 on Tuesday, November 22.

The stock decreased 3.73% or $2.56 during the last trading session, hitting $66.13. About 724,351 shares traded hands. PDC Energy Inc (NASDAQ:PDCE) has risen 7.66% since April 25, 2016 and is uptrending. It has outperformed by 1.65% the S&P500.

PDC Energy, Inc. is an independent exploration and production company. The company has a market cap of $3.64 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 recent PDC Energy Inc (NASDAQ:PDCE) news were published by: Bloomberg.com which released: “PDC Energy Joins Permian Oil Rush With $1.5 Billion Acquisition” on August 23, 2016. Also Streetinsider.com published the news titled: “Form 4 PDC ENERGY, INC. For: Nov 23 Filed by: SWOVELAND JEFFREY C” on November 29, 2016. Seekingalpha.com‘s news article titled: “PDC Energy Is A Well Capitalized Growth Oil Company” with publication date: November 17, 2016 was also an interesting one.

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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