31.79 0.00 (0.00%)
After hours: 4:35PM EDT
|Bid||30.45 x 1000|
|Ask||33.33 x 1100|
|Day's Range||31.62 - 32.76|
|52 Week Range||26.59 - 65.34|
|Beta (3Y Monthly)||1.19|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
A Denver oil and gas company is trying to ward off an activist investor fund by trying to defeat a slate of three board candidates the fund is running in shareholder elections. At stake in the election may be whether PDC Energy Inc. (Nasdaq: PDCE) sticks to its current growth and investment plans and keeps its current executives, or whether it shifts focus to near-term profitability and considers dividends and mergers and acquisitions to improve shareholder returns. Barton Brookman, CEO and president of PDC Energy, sent a letter to shareholders Monday urging them to reject the candidates proposed by New York City-based investment fund Kimmeridge Energy Management Company LLC. The Kimmeridge approach would slash investment in PDC operations, lead to an excessive shareholder dividend and likely push the company into merger and acquisitions that benefit Kimmeridge, Brookman said.
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The world of activism is always…well, active. Logically. Looking at the current most interesting moves by activist hedge funds, Lion Point Capital, Corvex Management LP, and Sachem Head Capital Management LP come into the picture. Starting with Lion Point Capital that was launched four years ago by Didric Cederholm, who previously worked as an executive […]
PDC Energy (PDCE) delivered earnings and revenue surprises of -51.79% and -59.14%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
The Denver-based company said it had a loss of $1.82 per share. Earnings, adjusted for non-recurring costs, were 27 cents per share. The results did not meet Wall Street expectations. The average estimate ...
It seems that the masses and most of the financial media hate hedge funds and what they do, but why is this hatred of hedge funds so prominent? At the end of the day, these asset management firms do not gamble the hard-earned money of the people who are on the edge of poverty. Truth […]
Unfortunately, all too often that piece of real estate is a corner office. Just before Occidental Petroleum Corp. leaped into the fray this week against Chevron to win Anadarko Petroleum Corp., it emerged that, whoever ended up owning the company, the big winners would be the guys currently running it. As first reported by the Wall Street Journal, Anadarko’s compensation committee tweaked severance terms for its senior bosses, including CEO Al Walker, the day before the agreed deal with Chevron Corp. was announced.
PDC Energy (PDCE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The Zacks Analyst Blog Highlights: PDC Energy, Anadarko Petroleum, AngloGold Ashanti and NovaGold Resources
Oil prices recorded the best quarterly gain in the first three-month period of 2019 since 2009 and the best first-quarter gain since 2002.
The Zacks Analyst Blog Highlights: PDC Energy, U.S. Silica, Exxon Mobil and Royal Dutch Shell
While small-cap stocks, such as PDC Energy, Inc. (NASDAQ:PDCE) with its market cap of US$2.9b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a down...
After nosediving to mid-$40s last year, U.S. oil price soared 32% in the first three months of this year to around $60 a barrel, its highest quarterly rebound since 2009.
On the upside, the S&P 500 (SPX) is up a stellar 15% in the last three months after a rocky December caused many market observers to wonder whether the bull market was finally on its last legs. Another surprise has been the resilience of the energy sector and steadily increasing crude oil prices. After starting the year around $43 a barrel, oil (CLK9) has jumped roughly 40% to the mid $60s per barrel — and the flagship Energy Select Sector SPDR Fund (XLE) has jumped almost 20% in the same period as a result.
My Main Street upbringing taught me that Wall Street--a term that covered not only stock brokers, traders, and the like, but also corporate executives--was a well-organized cabal. I was reminded of the fact from a recent Matt Levine column, about a shale driller called PDC Energy PDCE . The company has been criticized by a dissident shareholder for goading management to boost production by paying its CEO production bonuses.
A Denver oil and gas company is trying to stick to its growth plans while an activist shareholder fund pressures it to change its board, return more money to investors and possibly sell parts of the business. PDC Energy Inc. (Nasdaq: PDCE), a company focused on the developing oil wells in the Denver-Julesburg Basin of northeast Colorado and the Delaware basin in Texas, may see New York City-based Kimmeridge Energy Management Co. nominate three candidates for seats on PDC Energy’s eight-member board at its next annual shareholder meeting. PDC Energy will start taking into account return on capital invested, cash flow and debt reduction as it determines executive compensation, said Barton Brookman, Jr., PDC Energy’s president and CEO, acknowledging Kimmeridge’s push on a recent conference call with Wall Street analysts.