Price Don’t Lie: What’s Ahead for PDC Energy Inc After Reaching 52-Week High?

Price Don't Lie: What's Ahead for PDC Energy Inc After Reaching 52 Week High?

The stock of PDC Energy Inc (NASDAQ:PDCE) hit a new 52-week high and has $76.32 target or 3.00% above today’s $74.10 share price. The 5 months bullish chart indicates low risk for the $4.78 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $76.32 price target is reached, the company will be worth $143.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.62 million shares traded hands or 60.40% up from the average. PDC Energy Inc (NASDAQ:PDCE) has risen 18.23% since April 28, 2016 and is uptrending. It has outperformed by 12.31% the S&P500.

Analysts await PDC Energy Inc (NASDAQ:PDCE) to report earnings on February, 27. They expect $-0.03 earnings per share, down 110.34% or $0.32 from last year’s $0.29 per share. After $-0.12 actual earnings per share 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. The rating was maintained by Clarkson Platou on Monday, April 11 with “Buy”. On Monday, August 29 the stock rating was initiated by Williams Capital Group with “Buy”. The firm earned “Outperform” rating on Tuesday, August 11 by BMO Capital Markets. As per Friday, April 8, the company rating was maintained by Stifel Nicolaus. The firm has “Market Perform” rating by Cowen & Co given on Tuesday, September 8. The company was maintained on Monday, April 11 by Credit Suisse. The stock of PDC Energy Inc (NASDAQ:PDCE) has “Neutral” rating given on Tuesday, August 11 by Bank of America. The stock of PDC Energy Inc (NASDAQ:PDCE) has “Market Perform” rating given on Monday, May 23 by Wells Fargo. The stock of PDC Energy Inc (NASDAQ:PDCE) has “Buy” rating given on Thursday, August 25 by Wunderlich. Mizuho initiated the stock with “Neutral” rating in Thursday, October 6 report.

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.
The Ontario – Canada-based Royal Natl Bank Of Canada has invested 0% in PDC Energy Inc (NASDAQ:PDCE). Schwab Charles Investment Mgmt Inc holds 0.01% or 175,656 shares in its portfolio. Rhumbline Advisers has 70,904 shares for 0.01% of their US portfolio. Kcg Holdings accumulated 9,840 shares or 0.01% of the stock. The Connecticut-based Trexquant Investment Limited Partnership has invested 0.09% in PDC Energy Inc (NASDAQ:PDCE). The Wisconsin-based Cortina Asset Management Llc has invested 0.49% in PDC Energy Inc (NASDAQ:PDCE). Mutual Of America Capital Management Ltd Liability reported 57,328 shares or 0.07% of all its holdings. Moreover, Wolverine Asset Ltd Liability has 0.02% invested in PDC Energy Inc (NASDAQ:PDCE) for 25,738 shares. Canada Pension Plan Investment Board reported 194,900 shares or 0.05% of all its holdings. Teachers Retirement Of The State Of Kentucky holds 0.02% or 27,160 shares in its portfolio. Moreover, Invesco Limited has 0.01% invested in PDC Energy Inc (NASDAQ:PDCE) for 286,721 shares. Moreover, California Public Employees Retirement Sys has 0.01% invested in PDC Energy Inc (NASDAQ:PDCE) for 114,600 shares. Woodstock Corp has 20,292 shares for 0.24% of their US portfolio. Loomis Sayles Com Lp has invested 0.05% of its portfolio in PDC Energy Inc (NASDAQ:PDCE). Schroder Investment Mngmt Group Incorporated holds 0.09% of its portfolio in PDC Energy Inc (NASDAQ:PDCE) for 738,300 shares.

Insider Transactions: Since July 1, 2016, the stock had 0 insider buys, and 7 insider sales for $789,677 net activity. SWOVELAND JEFFREY C also sold $82,920 worth of PDC Energy Inc (NASDAQ:PDCE) on Wednesday, November 23. Amidon Daniel Willson sold 1,550 shares worth $108,531. PARKE DAVID C had sold 400 shares worth $23,116. WAKIM KIMBERLY LUFF had sold 2,000 shares worth $138,200 on Tuesday, November 22.

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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