Momentum Stock Watch: PDC Energy, Inc. (PDCE)
- Sunday, May 22, 2022, 11:16
- Stock Market, Stock Research
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Company Profile: |
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 primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. As of December 31, 2021, it owned interests in approximately 3,500 productive 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. |
Recent News: |
On May 06, 2022, the compnay has completed its acquisition of Great Western Petroleum, LLC (“Great Western”), a privately held company based in Denver. The consideration paid was $543 million (less $50 million previously placed into escrow) and approximately 4 million shares of PDC common stock. |
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Conclusion: |
PDCE receives outperform rating in price to bookvalue and discounted cash flow. Technical indicators signal the bullish signs, as there is a bullish crossover in the Stochastic oscillator, the MACD is trying to cross back up and the RSI stands at 47.1 with positive bias. We rate PDC Energy, Inc. (PDCE) a BUY. |
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