PDC Energy, Inc., an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. As of December 31, 2020, it owned interests in approximately 3,727 productive gross wells. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc. in June 2012. PDC Energy, Inc. was founded in 1969 and is headquartered in Denver, Colorado.
IPO Year:
Exchange: NASDAQ
Website: pdce.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
5/31/2023 | Buy → Neutral | Seaport Research Partners | |
1/10/2023 | $97.00 | Buy | Mizuho |
12/12/2022 | $68.00 | Buy → Hold | Truist |
10/18/2022 | $74.00 | Buy → Neutral | Goldman |
9/20/2022 | Sector Weight | KeyBanc Capital Markets | |
7/20/2022 | $76.00 | Buy | MKM Partners |
3/3/2022 | $69.00 → $72.00 | Overweight | Keybanc |
3/1/2022 | $72.00 → $84.00 | Buy | MKM Partners |
2/3/2022 | $64.00 → $67.00 | Overweight | Keybanc |
1/20/2022 | $62.00 → $64.00 | Overweight | Keybanc |
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Seaport Research Partners downgraded PDC Energy from Buy to Neutral
Mizuho initiated coverage of PDC Energy with a rating of Buy and set a new price target of $97.00
Truist downgraded PDC Energy from Buy to Hold and set a new price target of $68.00
Goldman downgraded PDC Energy from Buy to Neutral and set a new price target of $74.00
KeyBanc Capital Markets initiated coverage of PDC Energy with a rating of Sector Weight
MKM Partners resumed coverage of PDC Energy with a rating of Buy and set a new price target of $76.00
Keybanc reiterated coverage of PDC Energy with a rating of Overweight and set a new price target of $72.00 from $69.00 previously
MKM Partners reiterated coverage of PDC Energy with a rating of Buy and set a new price target of $84.00 from $72.00 previously
Keybanc reiterated coverage of PDC Energy with a rating of Overweight and set a new price target of $67.00 from $64.00 previously
Keybanc reiterated coverage of PDC Energy with a rating of Overweight and set a new price target of $64.00 from $62.00 previously
NEW YORK, June 03, 2023 (GLOBE NEWSWIRE) -- CohBar, Inc. (NASDAQ:CWBR) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with the merger of CWBR and Morphogenesis, Inc. Under the terms of the proposed merger, CWBR shareholders will receive a dividend equal to approximately 3.30 shares of CWBR common stock. Following the merger, pre-merger CohBar shareholders are expected to own approximately 15% of the outstanding equity of the combined company. If you are a CWBR investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-
DENVER, May 24, 2023 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) announced today that its Board of Directors declared a quarterly cash dividend of $0.40 per share on PDC's outstanding common stock. The dividend is payable on June 22, 2023, to stockholders of record at the close of business on June 8, 2023. About PDC Energy, Inc. PDC Energy, Inc. is a domestic independent exploration and production company that acquires, explores and develops properties for the production of crude oil, natural gas and NGLs, with operations in the Wattenberg Field in Colorado and Delaware Basin in west Texas. Its operations in the Wattenberg Field are focused in the horizont
Complementary to Chevron's operations in important U.S. production basins Adds 10% to oil equivalent proved reserves for under $7 per barrel Accretive to earnings per share and return on capital employed (ROCE) Expected to add $1 billion to annual free cash flow Chevron Corporation (NYSE:CVX) announced today that it has entered into a definitive agreement with PDC Energy, Inc. (NASDAQ:PDCE) to acquire all of the outstanding shares of PDC in an all-stock transaction valued at $6.3 billion, or $72 per share. Based on Chevron's closing price on May 19, 2023 and under the terms of the agreement, PDC shareholders will receive 0.4638 shares of Chevron for each PDC share. The total en
DENVER, May 03, 2023 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" the "Company", "we", "us", "our') (NASDAQ:PDCE) today announced its 2023 first quarter financial and operating results and updates second quarter production and full-year capital guidance. 2023 First Quarter Highlights: Net cash from operating activities of approximately $590 million, adjusted cash flows from operations, a non-U.S. GAAP metric defined below, of approximately $520 million and oil and gas capital investments of approximately $415 million.Approximately $100 million of adjusted free cash flow ("FCF"), a non-U.S. GAAP metric defined below. Returned approximately $170 million of capital to shareholders through th
DENVER, April 10, 2023 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) today announced plans to host a conference call to discuss first quarter 2023 operating and financial results. The Company plans to issue its news release after market close on Wednesday, May 3, 2023, followed thereafter by additional materials. The release and materials will be available on the Company's website, www.pdce.com. The Company will host a conference call and simultaneous webcast on Thursday, May 4, 2023, at 11:00 a.m. ET. To attend the conference call webcast, participants should register online at http://www.pdce.com/investors-overview/events-calendar-webcasts-presentations/.
DENVER, Feb. 22, 2023 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) announced its full year and fourth quarter 2022 financial and operating results and provided 2023 guidance. 2022 Fourth Quarter Highlights: Total production of 22.7 million barrels of oil equivalent ("MMBoe") or approximately 247,000 Boe per day and oil production of 7.4 million barrels ("MMBbls") or approximately 80,000 Bbls per day.Net cash from operating activities of approximately $690 million, adjusted cash flows from operations, a non-U.S. GAAP metric defined below, of approximately $605 million and oil and gas capital investments of approximately $345 million.Approximately $260 millio
DENVER, Feb. 16, 2023 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) announced today that its Board of Directors declared an increase to its quarterly cash dividend from $0.35 to $0.40 per share on PDC's outstanding common stock. The dividend is payable on March 16, 2023, to stockholders of record at the close of business on March 2, 2023. This marks the second consecutive annual increase since implementing the dividend in 2021. PDC also announced that the Board of Directors approved an incremental $750 million dollars to the Company's existing $1.25 billion share repurchase program, bringing the total authorization to $2.0 billion. The Company remains committ
DENVER, Jan. 31, 2023 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) today announced plans to host a conference call to discuss fourth quarter and full-year 2022 operating and financial results. The Company plans to issue its news release after market close on Wednesday, February 22, 2023, followed thereafter by additional materials. The release and materials will be available on the Company's website, www.pdce.com. The Company will host a conference call and simultaneous webcast on Thursday, February 23, 2023, at 11:00 a.m. ET. To attend the conference call webcast, participants should register online at http://www.pdce.com/investors-overview/events-calendar-
DENVER, Dec. 08, 2022 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) announced today that the Colorado Oil and Gas Conservation Commission ("COGCC") unanimously approved, with overwhelming support of PDC's efforts, the Company's Guanella Comprehensive Area Plan (CAP), which encompasses approximately 33,000 consolidated net acres, 22 locations and approximately 450 wells in Weld County, Colorado. The Guanella CAP further supports the Company's long-term planning and permitting efforts. With today's CAP approved locations and our previously established multi-year inventory of projects in the DJ Basin, the Company has clear line of sight into its turn in line act
DENVER, Dec. 07, 2022 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) announced today that its Board of Directors declared a special dividend of $0.65 per share in addition to a quarterly cash dividend of $0.35 per share on PDC's outstanding common stock. The dividends are payable on December 28, 2022, to stockholders of record at the close of business on December 19, 2022. For the full year of 2022, PDC anticipates returning approximately $1 billion to shareholders through share repurchases, base dividend payments and the special dividend. Inclusive of the combined $1.00 base and special dividend payments in December and the $745 million invested in share repu
DENVER, Feb. 02, 2022 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) announced today that it appointed Pamela R. Butcher to its board of directors on February 2, 2022. Ms. Butcher brings nearly 40 years of leadership experience in the chemical industry, most recently as CEO, President and Chief Operating Officer at Pilot Chemical Corp. ("Pilot"), a position she retired from in January 2021. Prior to Pilot, Ms. Butcher worked 29 years for Dow Inc. (formerly known as The Dow Chemical Company) in a variety of executive positions of increasing responsibility. Non-executive Chairman of the Board and Chair of the Environmental, Social, Nominating and Governance Comm
DENVER, Feb. 24, 2021 (GLOBE NEWSWIRE) -- PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq:PDCE) today announced its 2020 fourth quarter and full-year operating and financial results. The Company also provided detailed 2021 guidance and a preliminary multi-year outlook. 2020 Fourth Quarter and Full-Year Highlights: Net cash from operating activities of approximately $220 million and $870 million in the fourth quarter and full-year 2020, respectively. Adjusted cash flows from operations, a non-U.S. GAAP metric defined below, of approximately $270 million and $920 million for the comparable periods. Oil and gas capital investments of approximately $110 million and $520 million for the fou
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NEW YORK, Aug. 1, 2023 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400: Penske Automotive Group Inc. (NYSE:PAG) will replace Univar Solutions Inc. (NYSE:UNVR) in the S&P MidCap 400 effective prior to the opening of trading on Friday, August 4. Apollo Global Management Inc. (NYSE:APO) acquired Univar Solutions in a deal that closed today.Erie Indemnity Co. (NASD: ERIE) will replace PDC Energy Inc. (NASD: PDCE) in the S&P MidCap 400 effective prior to the opening of trading on Tuesday, August 8. S&P 500 & 100 constituent Chevron Corp. (NYSE:CVX) is acquiring PDC Energy in a deal expected to be completed soon pending final conditions.Following is a su
NEW YORK, June 03, 2023 (GLOBE NEWSWIRE) -- CohBar, Inc. (NASDAQ:CWBR) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with the merger of CWBR and Morphogenesis, Inc. Under the terms of the proposed merger, CWBR shareholders will receive a dividend equal to approximately 3.30 shares of CWBR common stock. Following the merger, pre-merger CohBar shareholders are expected to own approximately 15% of the outstanding equity of the combined company. If you are a CWBR investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-
DENVER, May 24, 2023 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) announced today that its Board of Directors declared a quarterly cash dividend of $0.40 per share on PDC's outstanding common stock. The dividend is payable on June 22, 2023, to stockholders of record at the close of business on June 8, 2023. About PDC Energy, Inc. PDC Energy, Inc. is a domestic independent exploration and production company that acquires, explores and develops properties for the production of crude oil, natural gas and NGLs, with operations in the Wattenberg Field in Colorado and Delaware Basin in west Texas. Its operations in the Wattenberg Field are focused in the horizont
Complementary to Chevron's operations in important U.S. production basins Adds 10% to oil equivalent proved reserves for under $7 per barrel Accretive to earnings per share and return on capital employed (ROCE) Expected to add $1 billion to annual free cash flow Chevron Corporation (NYSE:CVX) announced today that it has entered into a definitive agreement with PDC Energy, Inc. (NASDAQ:PDCE) to acquire all of the outstanding shares of PDC in an all-stock transaction valued at $6.3 billion, or $72 per share. Based on Chevron's closing price on May 19, 2023 and under the terms of the agreement, PDC shareholders will receive 0.4638 shares of Chevron for each PDC share. The total en
Investors can register for EnerCom Denver – The Energy Investment Conference featuring a broad group of public and private oil and gas companies at www.enercomdenver.com EnerCom Denver® - The Energy Investment Conference celebrates 28 years of bringing together the energy sector, including companies, investors, analysts, and key industry leaders, to Denver, Aug. 13-16, 2023 A robust list of energy companies have already confirmed their participation in the conference Presentation opportunities are available for E&P, Midstream, OFS, and Energy Transition companies DENVER, May 18, 2023 /PRNewswire/ -- EnerCom, Inc. announced today that registration is open for EnerCom Denver® - The Energy Inve
DENVER, May 03, 2023 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" the "Company", "we", "us", "our') (NASDAQ:PDCE) today announced its 2023 first quarter financial and operating results and updates second quarter production and full-year capital guidance. 2023 First Quarter Highlights: Net cash from operating activities of approximately $590 million, adjusted cash flows from operations, a non-U.S. GAAP metric defined below, of approximately $520 million and oil and gas capital investments of approximately $415 million.Approximately $100 million of adjusted free cash flow ("FCF"), a non-U.S. GAAP metric defined below. Returned approximately $170 million of capital to shareholders through th
DENVER, April 10, 2023 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) today announced plans to host a conference call to discuss first quarter 2023 operating and financial results. The Company plans to issue its news release after market close on Wednesday, May 3, 2023, followed thereafter by additional materials. The release and materials will be available on the Company's website, www.pdce.com. The Company will host a conference call and simultaneous webcast on Thursday, May 4, 2023, at 11:00 a.m. ET. To attend the conference call webcast, participants should register online at http://www.pdce.com/investors-overview/events-calendar-webcasts-presentations/.
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EnerCom Publishes Preliminary Presentation and Event Schedule on EnerCom Dallas Website at www.enercomdallas.com. Investor registration is open for EnerCom Dallas + The Energy Venture Investment Summit conference featuring a broad group of public and private oil and gas companies and innovative start-up company presentations. Limited Presentation Opportunities Still Available for E&P, Midstream, OFS Companies and promising start-up energy and technology companies focused on innovation in alternative energy, advanced oil and gas technology and environmental sustainability. DENVER, March 8, 2023 /PRNewswire/ -- EnerCom, Inc. has published the preliminary presentation schedule and conference e
DENVER, Feb. 22, 2023 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ:PDCE) announced its full year and fourth quarter 2022 financial and operating results and provided 2023 guidance. 2022 Fourth Quarter Highlights: Total production of 22.7 million barrels of oil equivalent ("MMBoe") or approximately 247,000 Boe per day and oil production of 7.4 million barrels ("MMBbls") or approximately 80,000 Bbls per day.Net cash from operating activities of approximately $690 million, adjusted cash flows from operations, a non-U.S. GAAP metric defined below, of approximately $605 million and oil and gas capital investments of approximately $345 million.Approximately $260 millio
Oil giant Chevron Corp (NYSE:CVX) reported Q2 FY23 total revenues and other income of $48.896 billion, beating the consensus of $48.80 billion. Sales and other operating revenues fell to $47.2 billion from $65.4 billion a year ago, mainly on lower commodity prices. Adjusted net earnings were $5.78 billion, with Adjusted EPS being $3.08 (down from $5.82), missing the consensus of $3.28. Lower upstream realizations and decreased margins on refined product sales negatively impacted earnings. Related: Chevron CEO To Stay Put Past Retirement Age As Prelim Q2 Earnings Impresses Wall Street U.S. upstream earnings declined Y/Y, primarily on lower realizations. International upstream earnings w
Oil giant Chevron Corp. (NYSE:CVX) on Sunday released a preview of its second-quarter results that showed adjusted earnings declining 47% year-over-year but ahead of the consensus estimate. The oil giant also announced a slew of management changes, including the extension of the tenure of its chief executive officer and the retirement of its chief financial officer. What Happened: The San Ramon, California-based company reported adjusted earnings per share of $3.08 compared to the year ago's $5.82 and the previous quarter's $3.55. The results exceeded the consensus estimate of $2.99 per share. Reflecting the drop in oil prices in the quarter, the company's upstream as well as downst
Tuesday marks the last chance for investors to receive the next dividend payout from PDC Energy (NASDAQ:PDCE). What's Happening The company announced on Wednesday that it would pay shareholders a quarterly dividend of 40 cents per share. On Wednesday, PDC Energy will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 40 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Wednesday. Shareholders who own PDCE as of the end of Tuesday's session are eligible to receive the 40 cents dividend pa
Upgrades For The Carlyle Group Inc (NASDAQ:CG), Raymond James upgraded the previous rating of Market Perform to Outperform. For the first quarter, Carlyle Group had an EPS of $0.63, compared to year-ago quarter EPS of $0.74. The stock has a 52-week-high of $40.73 and a 52-week-low of $24.61. At the end of the last trading period, Carlyle Group closed at $28.15. Piper Sandler upgraded the previous rating for Akebia Therapeutics Inc (NASDAQ:AKBA) from Neutral to Overweight. In the first quarter, Akebia Therapeutics showed an EPS of $0.14, compared to $0.35 from the year-ago quarter. The current stock performance of Akebia Therapeutics shows a 52-week-high of $1.63 and a 52-week-low of $0.24
Seaport Global analyst Nick Pope downgrades PDC Energy (NASDAQ:PDCE) from Buy to Neutral.
Chevron Corporation (NYSE:CVX) plans to sell its oil and gas assets in Congo to focus on more profitable production. The Congo assets could fetch up to $1.5 billion, Reuters reported citing two sources close to the process. The plan to sell its Congo-based operations is because the energy behemoth wants to shift its focus more towards newer operations and more profitable production. The report added that Chevron received bids for the assets this week. "Chevron does not comment on rumors or speculations about its commercial activity, including potential acquisitions or divestitures, which is in a constant state of review," the company said in a statement. Chevron operates in the Republ
Analysts have provided the following ratings for PDC Energy (NASDAQ:PDCE) within the last quarter: Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 0 4 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 1 0 2 0 0 3M Ago 0 0 1 0 0 In the last 3 months, 5 analysts have offered 12-month price targets for PDC Energy. The company has an average price target of $76.6 with a high of $93.00 and a low of $65.00. Below is a summary of how these 5 analysts rated PDC Energy over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts a
Upgrades According to RBC Capital, the prior rating for Northland Power Inc (OTC:NPIFF) was changed from Sector Perform to Outperform. BMO Capital upgraded the previous rating for Camping World Holdings Inc (NYSE:CWH) from Market Perform to Outperform. Camping World Holdings earned $0.14 in the first quarter, compared to $1.15 in the year-ago quarter. The current stock performance of Camping World Holdings shows a 52-week-high of $33.98 and a 52-week-low of $18.69. Moreover, at the end of the last trading period, the closing price was at $26.32. For Accolade Inc (NASDAQ:ACCD), B of A Securities upgraded the previous rating of Neutral to Buy. For the fourth quarter, Accolade had an EPS o
Mizuho analyst Nitin Kumar downgrades PDC Energy (NASDAQ:PDCE) from Buy to Neutral and lowers the price target from $93 to $72.
Chevron Corporation (NYSE:CVX) inked a pact to acquire PDC Energy, Inc. (NASDAQ:PDCE) in an all-stock deal worth $7.6 billion, including debt. The acquisition provides development opportunities adjacent to Chevron's position in the Denver-Julesburg (DJ) Basin and additional acreage to Chevron's leading position in the Permian Basin. The deal, valued at $72 per share, will add $1 billion to annual free cash flow. It will add new drilling inventory to Chevron's U.S. oil and gas reserves. Based on Chevron's closing price on May 19, 2023, PDC shareholders will receive 0.4638 shares of Chevron for each PDC share. In addition, the deal increases Chevron's proved reserves by 10% at an acquis