PDC Energy (PDCE) : Traders are negative on PDC Energy (PDCE), as it has 9.6% of short positions outstanding compared to its float. The total shorts have reduced by -413,289 shares, which is a -8.5% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,4,893,869 to 4,480,580 shares. While the daily trading volume of the stock is 1,264,996, there are 4 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
PDC Energy (NASDAQ:PDCE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $66.94 and $65.56 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $71.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $66.95, notching a gain of 5.23% for the day. The total traded volume was 7,222,752 . The stock had closed at $63.62 on the previous day.
In a related news, Parke David C, director of Pdc Energy, Inc., unloaded 500 shares at an average price of $61.84 on August 15, 2016. The total amount of the transaction was worth $30,920, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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.