The stock last traded at $50.93 slightly over $47.37, the stock’s 50 day moving average and a tad above the 200 day moving average of $46.90. The 50 day moving average was up $3.56 or +7.51% whereas the 200 day moving average was up $4.03 or +8.59%. Trading was heavy with 903K shares changing hands in the last trading session. Overall, volume was up 8.16% over the stocks normal daily volume.
Traders are a little more bullish on shares of the company recently if you look at the fall in short interest. The company recorded a fall in short interest between September 29, 2017 and October 13, 2017 of -3.07%. Short interest fell from 7,422,703 to 7,195,174 over that period. With short interest at 7,195,174 and short average daily volume at 822,285, days to cover is 9.0 and the short interest percentage is 0.11% as of October 13.
Here is a rundown on some insider market activity for PDC Energy, Inc. (NASDAQ:PDCE). Scott J. Reasoner, COO let go of $49,640 worth of shares at an average price of $49.64 on Mon the 16th. That brings the COO’s holdings to $3,167,479 per an SEC filing yesterday.
These funds have shifted positions in (PDCE). As of quarter end Whittier Trust Co Of Nevada Inc had acquired a total of 37 shares growing its stake by 4.9%. The value in dollars went from $33,000 to $39,000 increasing 18.2% since the last quarter. As of the end of the quarter Parkside Financial Bank & Trust had sold 24 shares trimming its position 22.9%. The value of the investment in PDCE decreased from $5,000 to $4,000 a change of $1,000 quarter over quarter.
Aperio Group, LLC expanded its position by buying 281 shares an increase of 1.3% as of 09/30/2017. Aperio Group, LLC owns 22,214 shares worth $1,089,000. The total value of its holdings increased 15.1%. Simplex Trading, LLC augmented its ownership by buying 5,166 shares an increase of 268.8% from 06/30/2017 to 09/30/2017. Simplex Trading, LLC now controls 7,088 shares valued at $347,000. The value of the position overall is up by 323.2%.
On August 11 the company was upgraded from “Buy” to “Buy” in a report from Seaport Global. On August 18 analysts at Imperial Capital added the stock to its research portfolio with an initial rating of “Outperform”.
Equity analyst Jefferies began coverage of the stock with a rating of “Buy”.
The company’s P/E ratio is 361.21 and the market cap of the company is 3.33B. In the latest earnings report the EPS was $0.14 and is expected to be $0.22 for the current year with 65,342,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.07 and the next full year EPS is projected to be $0.58.
PDC Energy, Inc., launched on June 5, 2015, is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing. The Business’s Oil and Gas Exploration and Production segment includes all of its crude oil and natural gas properties. The Business’s Gas Marketing segment purchases, aggregates and resells natural gas. The Business’s operations in the Wattenberg Field are focused on the horizontal Niobrara and Codell plays. Its Delaware Basin operations are focused in the Wolfcamp zones and its Ohio operations are focused in the Utica Shale play. As of December 31, 2016, the Company owned an interest in approximately 2,900 productive gross wells..