Will PDC Energy, Inc. (PDCE) Short Squeeze Soon? The Stock Formed a Bullish Double Top

July 27, 2018 - By Billy Entrekin

PDC Energy, Inc. (NASDAQ:PDCE) Logo

Investors sentiment increased to 1.58 in Q1 2018. Its up 0.43, from 1.15 in 2017Q4. It increased, as 24 investors sold PDC Energy, Inc. shares while 55 reduced holdings. 45 funds opened positions while 80 raised stakes. 64.81 million shares or 2.11% less from 66.20 million shares in 2017Q4 were reported.
Pinnacle Assoc Limited has 33,500 shares. Wellington Mngmt Gru Llp holds 0.01% or 511,764 shares. Thrivent Financial For Lutherans stated it has 0.01% of its portfolio in PDC Energy, Inc. (NASDAQ:PDCE). Bnp Paribas Asset Mngmt Holdings holds 0.14% in PDC Energy, Inc. (NASDAQ:PDCE) or 349,131 shares. Northern Corp owns 1.43M shares. Td Asset holds 0% in PDC Energy, Inc. (NASDAQ:PDCE) or 46,602 shares. Phocas Fincl Corporation holds 234,844 shares. Amer reported 42,275 shares stake. Victory Management accumulated 3.04M shares. 180,826 are owned by Jpmorgan Chase And Co. State Board Of Administration Of Florida Retirement Systems owns 0% invested in PDC Energy, Inc. (NASDAQ:PDCE) for 36,454 shares. The California-based Shelton Mgmt has invested 0.02% in PDC Energy, Inc. (NASDAQ:PDCE). The Washington-based Cornerstone has invested 0% in PDC Energy, Inc. (NASDAQ:PDCE). Loomis Sayles And Communications Lp accumulated 694,117 shares. 591,868 were reported by New York State Common Retirement Fund.

Since February 1, 2018, it had 0 buys, and 18 selling transactions for $3.02 million activity. The insider BROOKMAN BARTON R JR sold 1,500 shares worth $79,335. 1,000 shares were sold by REASONER SCOTT J, worth $61,390 on Monday, July 16. Mazza Larry F had sold 4,000 shares worth $244,000. Shares for $507,398 were sold by Amidon Daniel Willson on Thursday, May 17. Another trade for 3,500 shares valued at $192,745 was sold by SWOVELAND JEFFREY C. Shares for $539,500 were sold by Lauck Lance on Friday, March 9.

The chart of PDC Energy, Inc. (PDCE) shows a double top with $67.99 target or 7.00 % above today’s $63.54 share price. The 6 months chart pattern indicates low risk for the $4.20B company. It was reported on Jul, 27 by Finviz.com. If the $67.99 price target is reached, the company will be worth $293.86M more. Double tops are rare but powerful chart patterns.

The stock increased 2.15% or $1.34 during the last trading session, reaching $63.54. About 616,398 shares traded. PDC Energy, Inc. (NASDAQ:PDCE) has risen 19.38% since July 27, 2017 and is uptrending. It has outperformed by 6.81% the S&P500.

Analysts await PDC Energy, Inc. (NASDAQ:PDCE) to report earnings on August, 8 after the close. They expect $0.60 EPS, up 215.79 % or $0.41 from last year’s $0.19 per share. PDCE’s profit will be $39.64 million for 26.48 P/E if the $0.60 EPS becomes a reality. After $0.05 actual EPS reported by PDC Energy, Inc. for the previous quarter, Wall Street now forecasts 1,100.00 % EPS growth.

PDC Energy, Inc. (NASDAQ:PDCE) Ratings Coverage

Among 16 analysts covering PDC Energy (NASDAQ:PDCE), 14 have Buy rating, 0 Sell and 2 Hold. Therefore 88% are positive. PDC Energy had 26 analyst reports since January 28, 2018 according to SRatingsIntel. The stock has “Buy” rating by Johnson Rice on Wednesday, March 21. The stock of PDC Energy, Inc. (NASDAQ:PDCE) has “Buy” rating given on Monday, May 21 by Williams Capital Group. As per Wednesday, April 25, the company rating was maintained by Jefferies. The rating was maintained by Stifel Nicolaus with “Buy” on Wednesday, March 28. The company was maintained on Thursday, May 24 by KeyBanc Capital Markets. On Monday, April 23 the stock rating was maintained by Stifel Nicolaus with “Buy”. The rating was maintained by Bank of America on Thursday, March 8 with “Buy”. Goldman Sachs upgraded the stock to “Buy” rating in Thursday, April 12 report. On Thursday, February 8 the stock rating was maintained by Imperial Capital with “Buy”. Bank of America maintained PDC Energy, Inc. (NASDAQ:PDCE) on Monday, April 16 with “Buy” rating.

More recent PDC Energy, Inc. (NASDAQ:PDCE) news were published by: Nasdaq.com which released: “PDC Energy Announces Second Quarter 2018 Conference Call – Thursday, August 9, 2018” on July 09, 2018. Also Prnewswire.com published the news titled: “What to Expect from the 23rd EnerCom – The Oil & Gas Conference®” on July 25, 2018. Seekingalpha.com‘s news article titled: “US Shale: NAV Analysis Of Denver-Julesberg Basin (Niobrara) E&Ps – 2018 Q1 Update” with publication date: July 03, 2018 was also an interesting one.

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 has market cap of $4.20 billion. It operates through two divisions, Oil and Gas Exploration and Production, and Gas Marketing. It currently has negative earnings. The Oil and Gas Exploration and Production segment produces and sells natural gas and natural gas liquids to midstream service providers and marketers; and crude oil.

PDC Energy, Inc. (NASDAQ:PDCE) Institutional Positions Chart

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