Last $57.71 USD
Change Today -0.68 / -1.16%
Volume 510.2K
PDCE On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 4:30 PM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

pdc energy inc (PDCE) Snapshot

Open
$58.67
Previous Close
$58.39
Day High
$58.75
Day Low
$57.40
52 Week High
10/22/13 - $73.93
52 Week Low
01/27/14 - $44.72
Market Cap
2.1B
Average Volume 10 Days
548.9K
EPS TTM
$0.78
Shares Outstanding
35.9M
EX-Date
--
P/E TM
73.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for PDC ENERGY INC (PDCE)

pdc energy inc (PDCE) Related Businessweek News

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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 and President
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. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014 and Production Results for the Second Quarter of 2014; Records Impairment for the Second Quarter of 2014; Provides Production Guidance for the Second Half of Fiscal Year 2014; Revises Earnings Guidance for Full Year 2014; Provides Cash Flow Guidance for the Fiscal Year 2015

PDC ENERGY, INC. reported consolidated unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported of $109,472,000 compared with $121,305,000 for the same period last year. Loss from operations was $35,825,000 compared with income from operations $39,379,000 for the same period last year. Loss from continuing operations before income taxes was $48,733,000 compared with income from continuing operations before income taxes $26,293,000 for the same period last year. Loss from continuing operations was $28,187,000 or $0.79 diluted per share compared with income from continuing operations $16,502,000 or $0.53 diluted per share for the same period last year. Net loss was $28,187,000 or $0.79 diluted per share compared with net income of $19,918,000 or $0.64 diluted per share for the same period last year. Adjusted EBITDA was $62.7 million compared with 54.1 million for the same period last year. Adjusted net loss was $1.5 million or $0.04 per share compared with adjusted net income of $7.0 million or $0.23 per share for the same period last year. Adjusted cash flows from operations was $55.0 million compared with $46.4 million for the same period last year. Cash flow for the company from operations was $55 million; however, after excluding the impact of the litigation charge that Gysle will discuss shortly, adjusted cash flow from operations would have been $76 million. For the six months, the company reported of $239,734,000 compared with $193,131,000 for the same period last year. Loss from operations was $26,760,000 compared with income from operations $10,711,000 for the same period last year. Loss from continuing operations before income taxes was $52,247,000 compared with $37,154,000 for the same period last year. Loss from continuing operations was $30,314,000 or $0.85 diluted per share compared with $24,453,000 or $0.80 diluted per share for the same period last year. Net income was $30,314,000 or $0.85 diluted per share compared with $19,500,000 or $0.64 diluted per share for the same period last year. Adjusted EBITDA was $139.2 million compared with $115.3 million for the same period last year. Adjusted net income was $8.1 million or $0.23 per share compared with adjusted net loss of $13.4 million or $0.44 per share for the same period last year. Adjusted cash flows from operations was $124.7 million compared with $98.7 million for the same period last year. The company reported impairment of crude oil and natural gas properties of $938,000 compared with $1,502,000 for the same period last year. For the second half of 2014, the company anticipating 300,000 barrels improvement from the original guidance based on drilling programs. The company increased its 2014 full-year guidance which it provided at its Analyst Day in April 2014. Production guidance increased to a range of 10.7 to 10.9 million barrels of oil equivalent (MMBoe) (or 29,300 to 29,850 Boe per day), from initial guidance of 9.5 to 10.0 MMBoe. This new guidance is estimated to be reduced by 0.3 MMBoe following the close of the sale of the Marcellus interests in the fourth quarter of 2014. Revenues are expected to be in the $518 million to $543 million range, from initial guidance of $461 million to $498 million; and adjusted cash flows from operations, a non-U.S. GAAP financial measure defined below, are expected to be in the $275 million to $290 million range, from initial guidance of $270 million to $300 million. The capital expenditures budget is unchanged at $647 million for 2014. For the fiscal year 2015, the company projects cash flow per share at over $12 per share or over 50% growth versus that of cash flow per share in 2014. PDC turned in line 28 operated wells during the second quarter of 2014, substantially all of which were in the Wattenberg Field. In the first half of the year, 46 wells were turned in line. In addition, approximately 11 non-operated wells in the Wattenberg Field were turned in line during the second quarter. The Company spud two horizontal wells in the Utica Shale during the second quarter and 31 horizontal wells in the Wattenberg Field. PDC added a fifth drilling rig in the Wattenberg Field in early June and is currently drilling on a pad in its inner core area. The Company also added a second drilling rig to its Utica Shale development operations in July. As previously announced, PDC increased its Utica Shale leasehold to approximately 67,000 net acres. Production came in at 2.7 million BOE for the second quarter.

PDC Energy, Inc. to Report Q2, 2014 Results on Aug 08, 2014

PDC Energy, Inc. announced that they will report Q2, 2014 results at 9:00 AM, Eastern Standard Time on Aug 08, 2014

PDC Energy, Inc., Q2 2014 Earnings Call, Aug 08, 2014

PDC Energy, Inc., Q2 2014 Earnings Call, Aug 08, 2014

 

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Industry Analysis

PDCE

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Valuation PDCE Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 3.7x
Price/Book 2.2x
Price/Cash Flow 14.3x
TEV/Sales 2.5x
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