PDC Energy Inc. (NASDAQ: PDCE) stock jumped 0.36% on Wednesday to $71.98 against a previous-day closing price of $71.72. With 1.7 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.07 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $72.57 whereas the lowest price it dropped to was $71.49. The 52-week range on PDCE shows that it touched its highest point at $88.32 and its lowest point at $51.20 during that stretch. It currently has a 1-year price target of $90.67. With its current market cap of 6.28 billion, PDCE has annualized dividend of $1.60 while the current yield stands at 2.22%. Beta for the stock currently stands at 2.52.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PDCE was up-trending over the past week, with a rise of 12.70%, but this was up by 12.59% over a month. Three-month performance surged to 9.86% while six-month performance fell -1.23%. The stock gained 2.83% in the past year, while it has gained 13.39% so far this year. A look at the trailing 12-month EPS for PDCE yields 23.47 with Next year EPS estimates of 16.83. For the next quarter, that number is 3.25. This implies an EPS growth rate of 254.50% for this year and 27.44% for next year. EPS is expected to grow by 27.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 47.70%.
Float and Shares Shorts:
At present, 88.36 million PDCE shares are outstanding with a float of 86.72 million shares on hand for trading. On May 14, 2023, short shares totaled 4.34 million, which was 4.96% higher than short shares on Apr 13, 2023. In addition to Mr. Barton R. Brookman Jr. as the firm’s CEO, Pres & Director, Mr. R. Scott Meyers serves as its Exec. VP & CFO.
Through their ownership of 100.81% of PDCE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 58.87% of PDCE, in contrast to 36.63% held by mutual funds. Shares owned by individuals account for 2.41%. As the largest shareholder in PDCE with 10.50% of the stake, The Vanguard Group, Inc. holds 9,276,058 shares worth 9,276,058. A second-largest stockholder of PDCE, BlackRock Fund Advisors, holds 7,622,869 shares, controlling over 8.62% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in PDCE, holding 4,367,234 shares or 4.94% stake. With a 3.25% stake in PDCE, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 2,875,406 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.11% of PDCE stock, is the second-largest Mutual Fund holder. It holds 2,751,138 shares valued at 178.96 million. Vanguard Small Cap Index Fund holds 2.62% of the stake in PDCE, owning 2,312,604 shares worth 150.43 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, PDCE reported revenue of $1.24B and operating income of $810.64M. The EBITDA in the recently reported quarter was $1.00B and diluted EPS was $6.74.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PDCE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PDCE analysts setting a high price target of $100.00 and a low target of $72.00, the average target price over the next 12 months is $86.50. Based on these targets, PDCE could surge 38.93% to reach the target high and rise by 0.03% to reach the target low. Reaching the average price target will result in a growth of 20.17% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, PDCE has a current ratio of $1.6, which is $1.6 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and PDCE currently yields $2.01. In the past year, PDCE’s dividend yield has been $2.01. Accordingly, PDCE has a current buyback yield of $14.3. This was $14.3 for the TTM, and it was $4.90 for the past five years.
Summary of Insider Activity:
Insiders traded PDCE stock several times over the past three months with 1 Buys and 12 Sells. In these transactions, 4,389 shares were bought while 30,697 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 79 over the past year. The total number of shares bought during that period was 680,127 while 523,933 shares were sold.