PDCE - Shares of PDC Energy Inc. (PDCE) Rise Above Previous 52-Week High
Shares of PDC Energy Inc. (NASDAQ:PDCE) traded at a new 52-week high today of $72.61. So far today approximately 197,000 shares have been exchanged, as compared to an average 30-day volume of 2.2 million shares.
PDC Energy Inc. (NASDAQ:PDCE) defies analysts with a current price ($72.42) 2.2% above its average consensus price target of $70.86.
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, PDC Energy Inc. share prices are bracketed by a low of $30.25 and a high of $72.61 and is now at $72.42, 139% above that low price.
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