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
Ticker
PDCE
Exchange
Website
CEO
Barton Brookman
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
PETROLEUM DEVELOPMENT CORP
SEC CIK
Corporate docs
Subsidiaries
PDC Permian, Inc. ...
IRS number
952636730
PDCE stock data
News

Expert Ratings for PDC Energy
10 May 22
Wells Fargo Maintains Overweight on PDC Energy, Raises Price Target to $102
10 May 22
PDC Energy: Q1 Earnings Insights
4 May 22
PDC Energy Q1 EPS $3.66 Beats $3.09 Estimate, Sales $316.45M Miss $705.13M Estimate
4 May 22
Earnings Scheduled For May 4, 2022
4 May 22
Press releases
PDC Energy, Inc. Completes Great Western Acquisition
6 May 22
PDC Energy, Inc. Announces 2022 First Quarter Financial and Operating Results
4 May 22
This Small-Cap Green Oil Play has Multiple Catalysts in Hot Market Space (EOG, PQEFF, DVN, PDCE, XOM, PTEN, MTDR, XLE)
28 Apr 22
PDC Energy Announces 2022 First Quarter Conference Call – Thursday May 5, 2022
1 Apr 22
PDC Energy Announces $1.3 Billion Core Wattenberg Acquisition, Establishes Enhanced Return of Capital Framework, Provides 2021 Results and 2022 Guidance
28 Feb 22
Analyst ratings and price targets
Current price
Average target
$90.00
Low target
$84.00
High target
$102.00
Wells Fargo
Maintains
$102.00
Keybanc
Maintains
$84.00
MKM Partners
Maintains
$84.00
Calendar
4 May 22
20 May 22
31 Dec 22
Financial summary
Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
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Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
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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 |
Recent insider trades
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 |
Institutional ownership, Q1 2022
97.6% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 341 |
Opened positions | 81 |
Closed positions | 40 |
Increased positions | 107 |
Reduced positions | 126 |
13F shares | Current |
---|---|
Total value | 6.77B |
Total shares | 93.12M |
Total puts | 284.3K |
Total calls | 995K |
Total put/call ratio | 0.3 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 11.12M | $807.98M |
Vanguard | 9.54M | $693.41M |
Dimensional Fund Advisors | 5.41M | $392.9M |
FMR | 5.05M | $367.21M |
STT State Street | 4.75M | $345.37M |
Victory Capital Management | 3.72M | $270.4M |
MCQEF Macquarie | 3.05M | $221.54M |
Jennison Associates | 2.41M | $175.3M |
Harris Associates L P | 2.17M | $157.82M |
Geode Capital Management | 1.98M | $143.82M |
Financial report summary
?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
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Good
|
New words:
aforementioned, assumption, attacked, bankruptcy, baseline, boardroom, boycotting, bringing, called, certification, charitable, chemical, cleaner, communication, comparison, conclusion, dashboard, deposit, deposited, disproportionately, earlier, electrical, eligible, emerging, escrow, exact, feedback, garner, GHG, Great, greenhouse, hand, inflation, invaded, invasion, lessen, liquified, LLC, local, Membership, met, methane, mile, noise, orphan, outline, outlined, overseen, overview, power, preceding, priority, professional, profile, properly, Ranger, reach, reinvestment, reset, rest, robust, rule, Russia, Russian, safer, simulated, slightly, sound, spread, standalone, storage, surety, tier, tightening, track, traffic, Ukraine, unexpected, upward, WAHA, Western, worker, workover
Removed:
aided, allocation, assumed, assuming, cancellation, charge, concurrent, conversion, convert, corroborating, delivered, developmental, documentation, DTA, exceeded, exercisable, exercise, expensed, extension, finalized, forma, half, identifiable, improvement, integration, interbank, intrinsic, invested, land, LIBOR, London, long, lowered, merged, merger, MRL, negatively, older, operate, original, pro, product, PSU, realizability, reflecting, reinstated, repay, represented, reviewing, sequential, SRL, successful, supporting, transition, unconventional, validate, vertical, XRL
Financial reports
Current reports
8-K
Other Events
11 May 22
8-K
PDC Energy, Inc. Completes Great Western Acquisition
8 May 22
8-K
PDC Energy, Inc. Announces 2022 First Quarter Financial and Operating Results
4 May 22
8-K
Departure of Directors or Certain Officers
16 Mar 22
8-K
Departure of Directors or Certain Officers
10 Mar 22
8-K
Acquisition Adds Significant Scale to Core Wattenberg Position, is Accretive to Key Financial and Operating Metrics, Maintains Strong Balance Sheet
28 Feb 22
8-K
PDC Energy Announces Continued Board Refreshment Through Appointment of New Director Pamela Butcher
2 Feb 22
8-K
PDC Energy Announces 2021 Third Quarter Results and Increases Targeted 2021 Shareholder Returns by More Than
3 Nov 21
8-K
Results of Operations and Financial Condition
4 Aug 21
8-K
Submission of Matters to a Vote of Security Holders
27 May 21
Registration and prospectus
424B7
Prospectus with selling stockholder info
11 May 22
S-8 POS
Registration of securities for employees (post-effective amendment)
12 Oct 21
S-3ASR
Automatic shelf registration
19 May 21
15-15D
Suspension of duty to report
20 Apr 21
S-8 POS
Registration of securities for employees (post-effective amendment)
20 Apr 21
424B5
Prospectus supplement for primary offering
14 Sep 20
FWP
Free writing prospectus
10 Sep 20
424B5
Prospectus supplement for primary offering
10 Sep 20
S-8
Registration of securities for employees
25 Jun 20
S-8
Registration of securities for employees
14 Jan 20
Proxies
DEFA14A
Additional proxy soliciting materials
13 Apr 22
DEFA14A
Additional proxy soliciting materials
16 May 21
DEFA14A
Additional proxy soliciting materials
14 Apr 21
DEFA14A
Additional proxy soliciting materials
14 Apr 20
DEFA14A
Additional proxy soliciting materials
7 Apr 20
DEF 14A
Definitive proxy
7 Apr 20
PRE 14A
Preliminary proxy
27 Mar 20
DEFA14A
Additional proxy soliciting materials
22 May 19
Other
UPLOAD
Letter from SEC
18 Nov 20
CORRESP
Correspondence with SEC
2 Nov 20
UPLOAD
Letter from SEC
27 Oct 20
CORRESP
Correspondence with SEC
19 Jul 20
UPLOAD
Letter from SEC
6 Jul 20
EFFECT
Notice of effectiveness
9 Dec 19
CORRESP
Correspondence with SEC
4 Dec 19
CORRESP
Correspondence with SEC
24 Nov 19
CORRESP
Correspondence with SEC
20 Nov 19
CORRESP
Correspondence with SEC
12 Nov 19
Ownership
4
PDC ENERGY / Pamela R Butcher ownership change
19 May 22
4
PDC ENERGY / Lynn A Peterson ownership change
17 May 22
4
PDC ENERGY / Nicole L Martinet ownership change
13 May 22
4
PDC ENERGY / DAVID C PARKE ownership change
13 May 22
4
PDC ENERGY / R Scott Meyers ownership change
4 May 22
4
PDC ENERGY / BARTON R BROOKMAN JR ownership change
4 May 22
4
PDC ENERGY / BARTON R BROOKMAN JR ownership change
5 Apr 22
4
PDC ENERGY / Douglas J Griggs ownership change
5 Apr 22
4
PDC ENERGY / David Lillo ownership change
5 Apr 22
4
PDC ENERGY / R Scott Meyers ownership change
5 Apr 22
Transcripts
2022 Q1
Earnings call transcript
6 May 22
2021 Q4
Earnings call transcript
1 Mar 22
2021 Q3
Earnings call transcript
4 Nov 21
2021 Q2
Earnings call transcript
8 Aug 21
2021 Q1
Earnings call transcript
8 May 21
2020 Q4
Earnings call transcript
25 Feb 21
2020 Q3
Earnings call transcript
5 Nov 20
2020 Q2
Earnings call transcript
8 Aug 20
2020 Q1
Earnings call transcript
8 May 20
2019 Q4
Earnings call transcript
27 Feb 20
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