Last $42.87 USD
Change Today -0.59 / -1.36%
Volume 228.1K
PDCE On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 1:38 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

pdc energy inc (PDCE) Snapshot

Open
$43.43
Previous Close
$43.46
Day High
$44.49
Day Low
$42.63
52 Week High
06/19/14 - $70.44
52 Week Low
12/1/14 - $27.91
Market Cap
1.5B
Average Volume 10 Days
1.3M
EPS TTM
$1.00
Shares Outstanding
35.9M
EX-Date
--
P/E TM
42.9x
Dividend
--
Dividend Yield
--
Current Stock Chart for PDC ENERGY INC (PDCE)

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pdc energy inc (PDCE) Details

PDC Energy, Inc., an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company’s operations are focused primarily in the Wattenberg Field of Colorado, including the horizontal Niobrara and Codell plays; the Utica Shale in Ohio; and the Marcellus Shale in West Virginia. PDC Energy, Inc. operates in two segments, Oil and Gas Exploration and Production, and Gas Marketing. The Oil and Gas Exploration and Production segment produces and sells natural gas to midstream service providers, marketers, utilities, industrial end-users, and other wholesale purchasers; and crude oil and natural gas liquids. The Gas Marketing segment purchases, aggregates, and resells natural gas; and purchases natural gas produced by third party producers for resale. This segment markets natural gas to third-party marketers and natural gas utilities, as well as to industrial and commercial customers. As of December 31, 2012, it had approximately 266 million barrels of crude oil equivalent of proved reserves; and owned an interest in approximately 3,100 gross wells. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc. in June 2012. PDC Energy, Inc. was founded in 1969 and is headquartered in Denver, Colorado.

412 Employees
Last Reported Date: 02/21/14
Founded in 1969

pdc energy inc (PDCE) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.6M
Chief Financial Officer
Total Annual Compensation: $705.0K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $794.3K
Senior Vice President, General Counsel and Co...
Total Annual Compensation: $604.0K
Senior Vice President of Corporate Developmen...
Total Annual Compensation: $644.0K
Compensation as of Fiscal Year 2013.

pdc energy inc (PDCE) Key Developments

PDC Energy, Inc. Announces Management Changes

On December 4, 2014, the Board of Directors of PDC Energy, Inc. took the following actions, all of which are effective as of January 1, 2015. The Board approved the promotion of Barton R. Brookman, to Chief Executive Officer, such promotion to be effective contemporaneously with the effectiveness of the previously-announced retirement of James M. Trimble as the company's Chief Executive Officer. The Board also appointed Mr. Brookman to serve as a member of the Board as a Class II director with an initial term ending at the 2015 Annual Meeting of Stockholders. There is no current intention to appoint Mr. Brookman to any committee of the Board. The Board approved the promotion of Lance A. Lauck, to Executive Vice President Corporate Development and Strategy. The Board approved the promotion of Scott Reasoner, currently the company's Vice President of Western Operations, to Senior Vice President Operations. Mr. Reasoner joined the company in April 2008 in his current capacity. Before joining PDC, Mr. Reasoner served as a Business Unit Manager with Noble Energy Inc. where he was responsible for the Mid-Continent team.

PDC Energy, Inc. Provides Capital Budget and Production Guidance for 2015

PDC Energy, Inc. provided capital budget and production guidance for 2015. For the period, the company expects capital budget to be approximately $557 million, a decrease of 14% compared to its 2014 capital budget. The company's 2015 budget includes $526 million of development capital and $31 million for lease maintenance, exploration and other expenditures. The company estimates net production volumes for 2015 will be between 13.8 million and 14.5 million barrels of oil equivalent ("MMboe") and expects production growth throughout the year. The company's 2015 production exit rate is anticipated to be approximately 46,500 Boe per day.

PDC Energy, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Production Results for the Third Quarter of 2014; Reports Impairment of Crude Oil and Natural Gas Properties for the Third Quarter of 2014; Revises Production Guidance for the Year 2014

PDC Energy, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues were $224,556,000 against $71,815,000 a year ago. Income from operations was $101,255,000 against loss from operations of $11,515,000 a year ago. Income from continuing operations was $54,077,000 against loss from continuing operations of $13,907,000 a year ago. Net income was $53,997,000 against net loss of $16,000,000 a year ago. Income per share from continuing operations was $1.47 against net loss per share from continuing operations of $0.42 a year ago. Net income per share was $1.47 against net loss per share of $0.48 a year ago. Adjusted EBITDA was $62.6 million against $44.4 million a year ago. Adjusted net loss was $5.7 million against $2.3 million a year ago. Net cash from operating activities was $70.4 million against $77.5 million a year ago. Adjusted cash flows from operations was $55.5 million against $36.7 million a year ago. Adjusted diluted net loss per share was $0.15 compared to $0.07 a year ago. For the nine months, total revenues were $448,516,000 against $257,286,000 a year ago. Income from operations was $75,033,000 against loss from operations of $18,948,000 a year ago. Income from continuing operations was $23,291,000 against loss from continuing operations of $35,909,000 a year ago. Net income was $23,683,000 against net loss of $35,500,000 a year ago. Income per share from continuing operations was $0.63 against net loss per share from continuing operations of $1.14 a year ago. Net income per share was $0.64 against net loss per share of $1.13 a year ago. Adjusted EBITDA was $201.8 million against $159.7 million a year ago. Adjusted net income was $2.4 million against adjusted net loss of $15.7 million a year ago. Net cash from operating activities was $202.0 million against $119.5 million a year ago. Adjusted cash flows from operations was $180.2 million against $135.4 million a year ago. Adjusted diluted net income per share was $0.07 compared to net loss per share of $0.50 a year ago. For the quarter, the company increased production by 57% to 29,400 barrels of oil equivalent per day (Boe/d) from all operations. Third quarter 2014 production from continuing operations increased 60% to 25,600 Boe/d compared to 16,000 Boe/d in the third quarter of 2013, and increased slightly compared to 25,360 Boe/d in the second quarter of 2014. The increase in production over third quarter 2013 was primarily due to successful horizontal drilling in the Wattenberg Field. Increased crude oil and natural gas liquids (NGLs) production 80% to 16,670 Boe/d from continuing operations. For the quarter, the company reported impairment of crude oil and natural gas properties of $1,863,000 compared with $4,236,000 for the same period last year. In August 2014, the company increased its 2014 full-year production guidance to a range of 10.7 to 10.9 million barrels of oil equivalent (MMBoe) (or 29,300 to 29,850 Boe per day) subject to an estimated 0.3 MMBoe reduction for the sale of PDCM in the fourth quarter of 2014. The company has treated the Marcellus asset sale as discontinued operations, so in addition to the 0.3 MMBoe reduction for the fourth quarter of 2014, the company's production results from continuing operations excludes an additional 1.1 MMBoe from the Marcellus assets for the first three quarters of the year. Accordingly, full-year 2014 production guidance for continuing operations is a range of 9.3 MMBoe to 9.5 MMBoe.

 

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Industry Analysis

PDCE

Industry Average

Valuation PDCE Industry Range
Price/Earnings 48.5x
Price/Sales 2.6x
Price/Book 1.5x
Price/Cash Flow 6.7x
TEV/Sales 1.5x
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