PDC Energy (PDCE) Shares are Up 1.3%

PDC Energy (PDCE) has been under a strong bear grip, hence the stock is down -2.25% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.87% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.3% in the last 1 week, and is up 0.18% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

PDC Energy (NASDAQ:PDCE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $55.78 and $54.07 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $55.82. The buying momentum continued till the end and the stock did not give up its gains. It closed at $55.48, notching a gain of 0.71% for the day. The total traded volume was 1,759,380 . The stock had closed at $55.09 on the previous day.

The stock has recorded a 20-day Moving Average of 3.28% and the 50-Day Moving Average is 0.06%. PDC Energy, Inc. has dropped 2.68% during the last 3-month period . Year-to-Date the stock performance stands at 3.93%.

PDC Energy (PDCE) : The highest level PDC Energy (PDCE) is projected to reach is $86 for the short term and the lowest estimate is at $61. The consolidated price target from 17 rating analysts who initiate coverage on the stock is $72 and the possibility the share price can swing is $5.43.


PDC Energy Inc. is a domestic independent exploration and production Company, which produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs). The Company operates in two segments: Oil and Gas Exploration and Production, and Gas Marketing. The Companys Oil and Gas Exploration and Production segment primarily reflects revenues and expenses from the production and sale of crude oil, natural gas and NGLs, commodity price risk management, net, and well operations and pipeline income. The Companys Gas Marketing segment comprises the operating activities of its wholly owned subsidiary, Riley Natural Gas. The Company operates in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. Its operations in the Wattenberg Field are focused on the liquid-rich horizontal Niobrara and Codell plays. It owns an interest in approximately 2,900 gross producing wells, of which 350 are horizontal.

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