Shares of PDC Energy (PDCE) Sees Large Outflow of Money

PDC Energy (PDCE) : The total money flow in PDC Energy (PDCE) was negative ($6.49 million), showing the domination of sellers in the Tuesday trading session. The traders utilized every rise to sell their positions, as seen in the value of trading on downtick to the tune of $27.77 million. Transactions on upticks were comparatively lower at $21.29 million. The uptick to downtick ratio was 0.77. The total block trades on downticks were valued at $7.09 million. The money flow during block trades was negative ($7.09 million) when the stock traded with a gain of $58 cent. PDC Energy (PDCE) was $69.44, an increase of 0.84% over the previous days close.


Also, Barclays maintains its view on PDC Energy (NASDAQ:PDCE) according to the research report released by the firm to its investors. The shares have now been rated Overweight by the stock experts at the ratings house. Barclays raises the price target from $78 per share to $80 per share on PDC Energy . The rating by the firm was issued on August 25, 2016.

Shares of PDC Energy, Inc. rose by 9.15% in the last five trading days and 30.04% for the last 4 weeks. PDC Energy, Inc. is up 18.4% in the last 3-month period. Year-to-Date the stock performance stands at 30.09%.

PDC Energy (NASDAQ:PDCE): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $69.53 and $68.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $70.68. The buying momentum continued till the end and the stock did not give up its gains. It closed at $69.44, notching a gain of 0.84% for the day. The total traded volume was 1,463,490 . The stock had closed at $68.86 on the previous day.

In a related news, Parke David C, director of Pdc Energy, Inc., unloaded 500 shares at an average price of $61.84 on August 15, 2016. The total amount of the transaction was worth $30,920, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.