|Bid||42.28 x 1000|
|Ask||48.00 x 800|
|Day's Range||42.20 - 44.49|
|52 Week Range||26.59 - 66.20|
|Beta (3Y Monthly)||1.32|
|PE Ratio (TTM)||1,419.00|
|Earnings Date||Apr 30, 2019 - May 6, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||55.09|
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.
Oil prices fell on Friday as a combination of poor economic data and a move by Norway’s sovereign wealth fund to divest from the oil sector boosted bearish sentiment
A shareholder activist will challenge PDC Energy Inc. in an effort to change the way the oil producer pays its executives, part of a broader push by investors to force U.S. energy producers to focus more on profitability than growth. Kimmeridge Energy Management Co., which last month disclosed a 5.1% stake in PDC, said it is putting forth a slate of directors to challenge the three board members whose terms expire this year. Denver-based PDC’s chief executive, Barton Brookman, is among those up for re-election.
Kimmeridge Energy Management Co plans to nominate three candidates to PDC Energy Inc's board, the private equity firm said on Thursday as it seeks to cut costs and boost shareholder returns at the Denver-based oil and gas producer. Kimmeridge owns about 5.1 percent of PDC's shares. One nominee is Kimmeridge founder Ben Dell, who led the sale of the firm's Permian Basin assets to PDC in 2016.
PDC Energy, Inc. ("PDC" or the "Company") (PDCE) today confirmed that Kimmeridge Energy Management Company (“Kimmeridge”) has provided notice of its intent to nominate three individuals to stand for election to the PDC Board of Directors at the 2019 Annual Meeting of Shareholders. The PDC Board and its Nominating and Governance Committee will review the proposed Kimmeridge nominees and present the Board’s recommendation regarding director nominees in the Company’s definitive proxy materials, which will be filed with the Securities and Exchange Commission and mailed to all shareholders eligible to vote at the 2019 Annual Meeting. PDC shareholders are not required to take action at this time.
Kimmeridge compelled to make nominations given PDC Energy's steep discount to intrinsic value and management's apparent unwillingness to adopt numerous operational and strategic initiatives to maximize ...
DENVER, Feb. 27, 2019 -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ: PDCE) today reported its 2018 full-year and fourth quarter operating and financial results and.
Kimmeridge Energy Management Company on Friday announced a stake in PDC Energy Inc and called on the Denver-based oil and gas producer to cut costs and return more cash to shareholders. In response, PDC Energy said it continued to focus on capital discipline and executing its operational and financial goals, and would update shareholders on its plans when it releases its 2018 earnings on Feb. 28. A number of U.S. energy companies in recent months have come under attack from activists, many of which have argued for cost cutting and better returns for shareholders as a way to boost the value of firms after years of sub-standard stock price performance versus other economic sectors, such as technology.
Two veteran shale executives, Tim Dove and Floyd Wilson, have just stepped down from the top jobs at Pioneer Natural Resources Co. and Halcón Resources Corp., respectively. Dove had set a goal of quadrupling Pioneer’s output to 1 million barrels of oil equivalent within a decade, but the spending required has started to grate on investors. On Friday morning, another activist, Kimmeridge Energy Management Co., announced it had taken a stake in PDC Energy Inc., an exploration and production company with operations in Colorado and Texas. Kimmeridge wants PDC to overhaul its financial priorities, costs, governance and maybe, given the line about “considering all strategic alternatives,” its entire identity.
While we typically do not comment on interactions with individual shareholders, it is important to note that members of our Board and management team have held numerous discussions and meetings with Kimmeridge to better understand their views. PDC is well positioned with a strong portfolio in the core Wattenberg Field in Colorado and the Delaware Basin in Texas. The Company is capitalizing on its unique assets through capital efficiency, financial discipline and technological innovation, while prioritizing employee safety and responsible and sustainable development.
NEW YORK, Feb. 21, 2019 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
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.
Oil Gains Pushed the Energy Sector Higher Last Week(Continued from Prior Part)Energy stocksIn the week ending February 15, Denbury Resources (DNR) rose the most among the energy stocks under review in this series, which include the following ETFs:
DENVER, Feb. 11, 2019 -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ: PDCE) today reported its 2018 full-year production and year-end SEC proved reserves, as well as its.
DENVER, Jan. 28, 2019 -- PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq:PDCE) today announced plans to host a conference call to discuss fourth quarter and full-year 2018.
To name just a few, these include Brexit, the U.S. government shutdown, decelerating global and U.S. GDP growth, and a deteriorating outlook for corporate revenue and earnings increases. Goldman Sachs has responded by compiling a list of 27 global stocks that they believe are well-positioned to grow for the long term, regardless of prevailing economic and market conditions. Among those stocks are these six: Five Below Inc. (FIVE), WPX Energy Inc. (WPX), Lumentum Holdings Inc. (LITE), Fortinet Inc. (FTNT), Yandex NV (YNDX), and PDC Energy Inc. (PDCE).
Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like PDC Energy, Inc. (NASDAQ:PDCE), with a market cap of US$2.2b, are often out of the Read More...
What Happened in the Upstream Space Last Week?(Continued from Prior Part)Upstream stocksOn January 11–18, Laredo Petroleum (LPI) fell the most on our list of upstream energy stocks from the SPDR S&P Oil & Gas Exploration & Production
PDC Energy, Inc. (“PDC” or the “Company”) (PDCE) today announced the planned retirement of the Company’s current General Counsel, Dan Amidon, on December 31, 2018 and the appointment, effective January 1, 2019, of Nicole Martinet, the Company’s current Associate General Counsel, to the position of General Counsel and Corporate Secretary. Ms. Martinet will be responsible for corporate and tactical legal initiatives, governance for the Board of Directors, as well as other related duties.
Between November 30 and December 7, Gulfport Energy (GPOR) gained the most on our list of upstream energy stocks. However, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.9%—the second-largest fall among the major energy ETFs we discussed in the previous article.
Ben Dell, managing partner at Kimmeridge Energy Management, joins "Squawk Box" to make his case for how the private equity firm would like to change PDC Energy's board to cut costs and boost shareholder returns.