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PDC Energy (PDCE)

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 horizontal Niobrara and Codell plays and its Delaware Basin operations are primarily focused in the horizontal Wolfcamp zones.

Company profile

PDCE stock data

Analyst ratings and price targets

Last 3 months

Calendar

4 May 22
20 May 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 171.16M 171.16M 171.16M 171.16M 171.16M 171.16M
Cash burn (monthly) (no burn) (no burn) 5.94M (no burn) (no burn) (no burn)
Cash used (since last report) n/a n/a 9.85M n/a n/a n/a
Cash remaining n/a n/a 161.31M n/a n/a n/a
Runway (months of cash) n/a n/a 27.2 n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 May 22 Butcher Pamela R Common Stock Buy Acquire P No No 63.91 1,000 63.91K 2,008
16 May 22 Lynn A Peterson Common Stock Sell Dispose S No No 67.54 3,221 217.55K 300,499
16 May 22 Lynn A Peterson Common Stock Sell Dispose S No No 67.01 3,779 253.23K 303,720
11 May 22 Martinet Nicole L Common Stock Sell Dispose S No No 70 7,150 500.5K 51,066
11 May 22 David C Parke Common Stock Sell Dispose S No No 69.89 1,300 90.86K 24,448
11 May 22 David C Parke Common Stock Sell Dispose S No No 69.92 2,978 208.22K 25,748
2 May 22 Barton R Brookman JR Common Stock Sell Dispose S No No 68.85 700 48.19K 402,201
2 May 22 Barton R Brookman JR Common Stock Sell Dispose S No No 68.07 700 47.65K 402,901
2 May 22 Barton R Brookman JR Common Stock Sell Dispose S No No 67.27 600 40.36K 403,601
97.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 341 300 +13.7%
Opened positions 81 53 +52.8%
Closed positions 40 40
Increased positions 107 82 +30.5%
Reduced positions 126 127 -0.8%
13F shares Current Prev Q Change
Total value 6.77B 4.77B +41.8%
Total shares 93.12M 97.79M -4.8%
Total puts 284.3K 155.8K +82.5%
Total calls 995K 346.1K +187.5%
Total put/call ratio 0.3 0.5 -36.5%
Largest owners Shares Value Change
BLK Blackrock 11.12M $807.98M -26.8%
Vanguard 9.54M $693.41M -10.7%
Dimensional Fund Advisors 5.41M $392.9M -5.6%
FMR 5.05M $367.21M +29.5%
STT State Street 4.75M $345.37M +13.4%
Victory Capital Management 3.72M $270.4M -8.8%
MCQEF Macquarie 3.05M $221.54M +10.2%
Jennison Associates 2.41M $175.3M -8.8%
Harris Associates L P 2.17M $157.82M -11.3%
Geode Capital Management 1.98M $143.82M +10.2%
Largest transactions Shares Bought/sold Change
BLK Blackrock 11.12M -4.08M -26.8%
Fred Alger Management 1.84M +1.84M NEW
FMR 5.05M +1.15M +29.5%
Vanguard 9.54M -1.14M -10.7%
IVZ Invesco 1.49M +849.29K +133.0%
New York State Common Retirement Fund 202.14K -794.07K -79.7%
Manufacturers Life Insurance Company, The 0 -631.41K EXIT
Wellington Management 1.65M +625.85K +61.0%
Thomist Capital Management 0 -591.34K EXIT
STT State Street 4.75M +561.34K +13.4%

Financial report summary

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Management Discussion
  • The crude oil and natural gas industry is cyclical and commodity prices are inherently volatile. Commodity prices reflect global supply and demand dynamics as well as the geopolitical and macroeconomic environment.
  • In 2021, the global economy continued to recover due to the containment of COVID-19 and related emerging variants, which resulted to an increase in crude oil demand. Overall production from OPEC+ has not increased at the same pace of the demand, creating upward pressure on crude oil prices and tightening of global oil inventories. In February 2022, Russia, a major global crude oil exporter, attacked and invaded Ukraine, driving the United States (“U.S.”) and other Western countries to apply sanctions over crude oil imports from Russia. Additionally, many crude oil purchasers are boycotting Russian crude oil in response to the attacks on Ukraine. All of these factors have led to lower global oil supply and significantly higher crude oil prices in the first quarter of 2022 when compared to 2021.
  • The commodity price environment may remain volatile for an extended period due to, among other things, the continued invasion in Ukraine, outbreaks caused by coronavirus variants, the recovery of the economy, unexpected supply disruptions in key producing countries including the potential for higher U.S. crude oil production, historically low storage inventories of petroleum products, geopolitical disputes, weather conditions, and ongoing investor and regulatory pressure to replace fossil fuel consumption with lower carbon emission alternatives.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
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Readability
H.S. freshman Good
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