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|
|Earnings Date||Aug 6, 2019 - Aug 12, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||57.42|
DENVER, May 22, 2019 /PRNewswire/ -- EnerCom is pleased to announce that Senior Vice President and Chief Financial Officer of Occidental Petroleum (OXY) Cedric Burgher will deliver the luncheon keynote address on Monday, August 12, 2019, at EnerCom's The Oil & Gas Conference® in downtown Denver's Westin hotel. Mr. Burgher joined Occidental in May 2017 bringing more than 25 years of experience in the energy sector. Prior to joining Occidental, he was senior vice president of investor relations at EOG Resources (EOG), and he led financial organizations at QR Energy, Quantum Energy Partners, KBR, Halliburton (HAL) and Baker Hughes (BHGE). Mr. Burgher's experience includes a decade of CFO experience, leading two IPOs and a broad range of M&A and capital markets transactions.
DENVER, May 22, 2019 -- PDC Energy, Inc. (“PDC” or “the Company”) (Nasdaq: PDCE) today issued the following statement in response to the incomplete and misleading information.
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.
Kimmeridge is disappointed that PDC has chosen to respond to ISS's independent analysis of our position by issuing letters to shareholders that contain misinformation and baseless attacks. Specifically, in a May 20th Letter to PDC Shareholders, CEO Bart Brookman stated: "I also believe that Ben Dell, Kimmeridge's leader, is primarily focused on pushing PDC to engage in mergers with our competitors, including transactions in which he would be a financial participant.
PDC Energy, Inc. (“PDC” or “the Company”) (PDCE) today mailed a letter to shareholders from President and Chief Executive Officer, Bart Brookman, in connection with the Company’s 2019 Annual Meeting of Stockholders (“2019 Annual Meeting”), scheduled for May 29, 2019. PDC shareholders of record as of the close of business on April 1, 2019 will be entitled to vote at the 2019 Annual Meeting.
Board Believes Electing Kimmeridge Destroys Valueand Puts the Safety of PDC’s Employees at Risk ISS Report Ignores the Facts About PDC’s Performance, Fails to Take Into.
NEW YORK and DENVER, May 17, 2019 /PRNewswire/ -- Kimmeridge Energy Management Company, LLC ("Kimmeridge" or the "Firm"), beneficial owners of 5.1% of the shares of common stock of PDC Energy, Inc. ("PDC" or the "Company") (PDCE), is pleased to share that Institutional Shareholder Services Inc. ("ISS"), the leading proxy advisory firm, today has issued its recommendation to vote FOR Kimmeridge nominees Benjamin Dell and James Adelson to serve on the Board of Directors of PDC. Ben Dell, Founder and Managing Partner of Kimmeridge, said, "We are pleased that ISS has publicly recommended that PDC shareholders vote for our experienced nominees.
Urges Shareholders to Vote "FOR" All Three of Company’s Nominees on the WHITE Proxy Card Highlights Proven Track Record of Operational Excellence; Addresses Kimmeridge’s.
PDC Energy, Inc. (“PDC” or “The Company”) (PDCE) today announced that leading independent advisory firm Glass, Lewis & Co. (“Glass Lewis”) has recommended that PDC Energy shareholders vote “FOR” the three Company directors standing for reelection this year – PDC’s President and Chief Executive Officer Barton R. Brookman and independent directors Mark E. Ellis and Larry F. Mazza – on the WHITE proxy card in connection with the Company’s 2019 Annual Meeting of Shareholders (“2019 Annual Meeting”) scheduled for May 29, 2019.
Kimmeridge Energy Management Company, LLC ("Kimmeridge" or the "Firm") today released a presentation setting the record straight on PDC Energy, Inc. ("PDC" or the "Company") (PDCE) operating performance and refuting data presented by PDC.
NEW YORK and DENVER, May 15, 2019 /PRNewswire/ -- Kimmeridge Energy Management Company, LLC ("Kimmeridge" or the "Firm") today released a presentation setting the record straight on PDC Energy, Inc. ("PDC" or the "Company") (PDCE) operating performance and refuting data presented by PDC.
PDC Energy, Inc. (“PDC” or the “Company”) (PDCE) today announced it has filed a presentation in connection with its 2019 Annual Meeting of Stockholders (“2019 Annual Meeting”), scheduled for May 29, 2019. The presentation highlights PDC’s successful execution of its operating plan and corrects erroneous and misleading information in the presentations Kimmeridge Energy Management (“Kimmeridge”) recently filed with the Securities and Exchange Commission. PDC President and Chief Executive Officer, Bart Brookman commented, “Kimmeridge previously advocated dangerous ideas – such as recklessly slashing necessary investments in operations, initiating an excessive dividend, and pursuing self-serving M&A opportunities. Now that those suggestions have been rejected by analysts and investors, Kimmeridge has resorted to presenting flawed analyses in an effort to mislead PDC shareholders.
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PDC's portrayal of its performance relative to that of the PDC Peer Group skews the results in favor of PDC, creating the appearance that PDC has performed well. Ben Dell, Founder and Managing Partner of Kimmeridge, said, "We believe that the companies selected by PDC for inclusion in the PDC Peer Group have underperformed primarily due to their poor asset quality and high leverage levels.
PDC Energy, Inc. (“PDC” or the “Company”) (PDCE) today filed a presentation in connection with its 2019 Annual Meeting of Stockholders (“2019 Annual Meeting”), scheduled for May 29, 2019. PDC Energy has repositioned its portfolio and is executing a long-term strategy to capitalize on the Company’s high-quality assets and operational capabilities to deliver superior returns for investors. PDC Energy has clearly articulated its 2019 operating plan and 2020 outlook, which are centered on financial discipline, free cash flow generation, and profitable growth.
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 […]
NEW YORK and DENVER, May 6, 2019 /PRNewswire/ -- Kimmeridge Energy Management Company, LLC ("Kimmeridge" or the "Firm"), beneficial owners of 5.1% of the shares of common stock of PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ: PDCE), today released a presentation highlighting a pathway for PDC to achieve profitability.
PDC's reported net loss of $120.2 million ($1.82 per diluted share) and negative free cash flow of $90 million in the first quarter of 2019 highlights the risk to shareholders of maintaining the status quo. On an adjusted basis, PDC generated a return on capital employed of ~3%, materially below the Company's weighted average cost of capital, continuing an unimpressive trend. While Kimmeridge is pleased that the Company has followed its recommendation by announcing a $200 million dollar stock repurchase program, we remain disappointed that they have not committed to return 100% of the midstream proceeds to shareholders.
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 […]
PDC Energy, Inc. (“PDC” or the “Company”) (PDCE) today mailed a letter to shareholders in connection with its 2019 Annual Meeting of Stockholders (“2019 Annual Meeting”), scheduled for May 29, 2019. Under the leadership of the Board of Directors and management team, the Company has taken decisive steps to reposition the portfolio and operated with excellence through dynamic industry cycles.
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.