PDC Energy (PDCE) : Traders are bullish on PDC Energy (PDCE) as it has outperformed the S&P 500 by a wide margin of 11.72% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 10.29%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 10.35% in the last 1 week, and is up 12.87% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 12.5% and the 50-Day Moving Average is 10.38%. PDC Energy (NASDAQ:PDCE): On Fridays trading session , Opening price of the stock was $61.29 with an intraday high of $61.922. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $59.96. However, the stock managed to close at $61.22, a loss of 0.11% for the day. On the previous day, the stock had closed at $61.29. The total traded volume of the day was 1,130,528 shares.
The company Insiders own 1.8% of PDC Energy shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -2.15% . During last six month period, the net percent change held by insiders has seen a change of -30%. Also, Equity Analysts at the Brokerage Firm, Barclays, maintains their rating on the shares of PDC Energy (NASDAQ:PDCE). Barclays has a Overweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $78 per share from a prior target of $74. The rating by the firm was issued on August 10, 2016.
PDC Energy Inc. is a domestic independent exploration and production Company, which produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs). The Company operates in two segments: Oil and Gas Exploration and Production, and Gas Marketing. The Companys Oil and Gas Exploration and Production segment primarily reflects revenues and expenses from the production and sale of crude oil, natural gas and NGLs, commodity price risk management, net, and well operations and pipeline income. The Companys Gas Marketing segment comprises the operating activities of its wholly owned subsidiary, Riley Natural Gas. The Company operates in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. Its operations in the Wattenberg Field are focused on the liquid-rich horizontal Niobrara and Codell plays. It owns an interest in approximately 2,900 gross producing wells, of which 350 are horizontal.