Revenue Update on PDC Energy Inc(NASDAQ:PDCE)

PDC Energy Inc(NASDAQ:PDCE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $20.10M. Analysts estimated a revenue of $160.00M. Earnings per share were $-0.11. Analysts had estimated an EPS of $-0.06.

In a different note, On Aug 8, 2016, BMO Capital said it Downgrades its rating on PDC Energy Inc. The shares have been rated ‘Market Perform’ by the firm. On Jun 14, 2016, Deutsche Bank said it Maintains its rating on PDC Energy Inc. In the research note, the firm Lowers the price-target to $70.00 per share. The shares have been rated ‘Hold’ by the firm. On May 23, 2016, Wells Fargo said it Downgrades its rating on PDC Energy Inc. The shares have been rated ‘Market Perform’ by the firm.

PDC Energy Inc (PDCE) shares turned negative on Wednesdays trading session with the shares closing down -0.28 points or -0.44% at a volume of 8,62,724. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $63.35. The peak price level was also seen at $63.35 while the days lowest was $61.83. Finally the shares closed at $62.82. The 52-week high of the shares is $65.86 while the 52-week low is $42.675. According to the latest information available, the market cap of the company is $2,962 M.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, David C Parke (director) sold 400 shares at $57.79 per share price.Also, On May 20, 2016, Gysle R. Shellum (CFO) sold 2,438 shares at $63.98 per share price.On May 19, 2016, Kimberly Luff Wakim (director) sold 3,834 shares at $64.02 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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 Company’s 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 2900 gross producing wells of which 350 are horizontal.

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