PDCE - Shares of PDC Energy Inc. (PDCE) Have Risen Above Previous 52-Week High

Shares of PDC Energy Inc. (NASDAQ:PDCE) traded at a new 52-week high today of $58.94. Approximately 110,000 shares have changed hands today, as compared to an average 30-day volume of 848,000 shares.

PDC Energy is an exploration and production company in the crude oil, natural gas, and natural gas liquids industries. The company has an operation in the Wattenberg Field in Colorado and an operation in the Delaware Basin in Texas. The company remains flexible in terms of rig activity and capital deployment because of short-term rig contracts and held-by-production acreage. Through a technology focus, PDC implements multiwell drilling, extended laterals, increased frac stage density, enhanced frac design, and drilling efficiencies. The acquisition of SRC led to an increase in net acres to the company's asset portfolio. Natural gas production is the biggest contributor to the company's revenue, with production greatest in the Wattenberg Field.

In the past 52 weeks, shares of PDC Energy Inc. have traded between a low of $11.13 and a high of $58.94 and is now at $58.78, which is 428% above that low price.

There is potential upside of 458.3% for shares of PDC Energy Inc. based on a current price of $58.78 and an average consensus analyst price target of $328.19.

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