Shares of PDC Energy Inc. (NASDAQ:PDCE) traded today at $39.10, eclipsing its 52-week high. Approximately 274,000 shares have changed hands today, as compared to an average 30-day volume of 1.1 million shares.
PDC Energy Inc. (NASDAQ:PDCE) is currently priced 5.2% above its average consensus analyst price target of $36.80.
PDC Energy Inc is an exploration and production company that produces, develops, acquires, and explores crude oil, natural gas, and NGLs. The company has a significant operational presence in United States onshore basins. PDC’s operational control in its core areas is enhanced by its leasehold positions being held-by-production. It remains flexible in terms of rig activity and capital deployment due to short-term rig contracts and held-by-production acreage. Through a technology focus, PDC implements multiwell drilling, extended laterals, increased frac stage density, enhanced frac design, and drilling efficiencies. The company’s wells are built to perform at various densities and lengths.
PDC Energy Inc. share prices have moved between a 52-week high of $39.10 and a 52-week low of $4.51 and are now trading 760% above that low price at $38.80 per share.
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