KeyBanc maintained its PDC Energy [PDCE] rating to the equivalent of Overweight but changed the price target to $26 from $22, in a research note dated 2021-01-07. That figure represents around a 9.43% premium from where the company’s shares closed on Wednesday. Some new analysts also started their coverage, with Goldman’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in mid-August. Meanwhile, Stifel had raised its rating on PDCE to “Buy” from the earlier “Hold”, in a research note produced for clients May 21, 2020. In addition, there was a downgrade from Stifel on April 03, 2020. The rater changed PDCE from “a Buy” to “a Hold”.
Is PDC Energy Inc. [NASDAQ:PDCE] a Good Buy Right Now?
It should be noted that PDCE technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 72% Buy in the past month. Data from PDC Energy Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.09 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.18 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.28 million shares.
PDCE Price Performance
On Wall Street, PDC Energy Inc. [NASDAQ:PDCE] finished Wednesday’s session up 6.07% at $23.76. The stock went up to $24.28 at the same session while its lowest single day price was $22.51. In the last five days, it saw a rise of about 17.62%, PDC Energy Inc. shares gained by almost 15.73% since the beginning of the year. However, the share price has dropped to as low as -14.66% below its one year high. On 01/06/21, the company shares recorded $24.28, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $20.16. The company’s shares have declined by -14.07% in the past year. The 50-day SMA achieved is $17.06 while the 200-day SMA is $13.86. Volume gained to 1.74 million from 1.13 million in the previous session.
PDCE Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 22.75 level, and in case of violation of this particular level, it will cause more drop to 21.75 level. On the upper level, 25.29 is still the key resistance. The stock may increase to the subsequent resistance at 24.52. The Relative Strength Index (RSI) pinned on the 14-day chart is 77.87, implying an overbought technical stance while the MACD stands at 1.94, meaning price will increase in the next trading period. Percent R indicator moved to 7.84%, implying bullish price movement. Stochastic %K at 88.64% suggest selling the stock.
What is the short interest in PDC Energy Inc.?
Short interest in the PDC Energy Inc. stock has plunged, decreasing by -0.39 million shares to total 8.92 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 8.53 million, data from Yahoo Finance shows. The increase of 4.37% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 9.01% of the overall float for the stock.
PDC Energy Inc.’s Biggest Shareholders: Who Owns PDC Energy Inc. [PDCE]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 13,800,427 shares or roughly 13.85% of the outstanding PDCE shares. This means their shares have increased by 36,657 from the 13,800,427 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $183,347,608. Details in the latest 13F filings reveal that Dimensional Fund Advisors LP disposed off their -6.66% stake valued at $116,602,555 while SSgA Funds Management, Inc. cut theirs at $76,142,980. During the last quarter, Dimensional Fund Advisors LP liquidated -497,985 of its shares in PDC Energy Inc. while SSgA Funds Management, Inc. sold -23,226 shares. The Deep Basin Capital LP’s holdings currently number 4,240,670 shares at $100758319.2. According to the firm’s last 13F report, Victory Capital Management, Inc. shares in the company at filing stood at 3,506,919 shares, roughly $58,635,686.
PDCE Earnings Forecast For The Current Quarter
PDC Energy Inc. [PDCE] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $382.56M and an earnings per share of $0.76 for Dec 2020. Looking further ahead, the company is expected to report revenue of $346.43M at an EPS of $0.59 for Mar 2021. The estimates represent upside of 4.20% and 138.50% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
PDCE Earnings Estimates For The Current Year
For the financial year, PDC Energy Inc. [NASDAQ:PDCE] is expected to bring in revenue of $1.43B. The returns are nearly $270.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -6.27, lower than that of FY19 by -$7.1. Estimates put this year’s earnings growth at -855.40%, 138.90% for the next, and at an annual 27.20% over the next 5-year period. As for sales, forecasts are for an increase of 24.10% in the current fiscal year and a further 4.20% over the following year.