Switch to:
Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash-to-Debt 0.13
PDCE's Cash-to-Debt is ranked lower than
66% of the 472 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.55 vs. PDCE: 0.13 )
Ranked among companies with meaningful Cash-to-Debt only.
PDCE' s Cash-to-Debt Range Over the Past 10 Years
Min: 0  Med: 0.83 Max: No Debt
Current: 0.13
Equity-to-Asset 0.56
PDCE's Equity-to-Asset is ranked higher than
54% of the 426 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.55 vs. PDCE: 0.56 )
Ranked among companies with meaningful Equity-to-Asset only.
PDCE' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.27  Med: 0.48 Max: 0.71
Current: 0.56
0.27
0.71
Debt-to-Equity 0.43
PDCE's Debt-to-Equity is ranked higher than
55% of the 302 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.47 vs. PDCE: 0.43 )
Ranked among companies with meaningful Debt-to-Equity only.
PDCE' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.05  Med: 0.34 Max: 1.34
Current: 0.43
0.05
1.34
Debt-to-EBITDA 6.17
PDCE's Debt-to-EBITDA is ranked higher than
65% of the 247 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 2.91 vs. PDCE: 6.17 )
Ranked among companies with meaningful Debt-to-EBITDA only.
PDCE' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.33  Med: 2.6 Max: 12.18
Current: 6.17
1.33
12.18
Piotroski F-Score: 6
Altman Z-Score: 0.88
Beneish M-Score: -2.65
WACC vs ROIC
4.17%
-6.76%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating Margin % -34.55
PDCE's Operating Margin % is ranked higher than
67% of the 435 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -5.89 vs. PDCE: -34.55 )
Ranked among companies with meaningful Operating Margin % only.
PDCE' s Operating Margin % Range Over the Past 10 Years
Min: -86.73  Med: 12.34 Max: 33.31
Current: -34.55
-86.73
33.31
Net Margin % -31.04
PDCE's Net Margin % is ranked higher than
60% of the 433 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -9.28 vs. PDCE: -31.04 )
Ranked among companies with meaningful Net Margin % only.
PDCE' s Net Margin % Range Over the Past 10 Years
Min: -64.23  Med: -1.94 Max: 19.79
Current: -31.04
-64.23
19.79
ROE % -10.50
PDCE's ROE % is ranked higher than
63% of the 436 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -5.33 vs. PDCE: -10.50 )
Ranked among companies with meaningful ROE % only.
PDCE' s ROE % Range Over the Past 10 Years
Min: -19.12  Med: -0.79 Max: 24.98
Current: -10.5
-19.12
24.98
ROA % -6.08
PDCE's ROA % is ranked higher than
66% of the 512 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -4.14 vs. PDCE: -6.08 )
Ranked among companies with meaningful ROA % only.
PDCE' s ROA % Range Over the Past 10 Years
Min: -7.42  Med: -0.35 Max: 9.24
Current: -6.08
-7.42
9.24
ROC (Joel Greenblatt) % -8.01
PDCE's ROC (Joel Greenblatt) % is ranked higher than
66% of the 481 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -4.10 vs. PDCE: -8.01 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
PDCE' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -10.87  Med: 2.48 Max: 20.36
Current: -8.01
-10.87
20.36
3-Year Revenue Growth Rate -13.60
PDCE's 3-Year Revenue Growth Rate is ranked higher than
69% of the 378 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -21.80 vs. PDCE: -13.60 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
PDCE' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -28.4  Med: 11.1 Max: 46
Current: -13.6
-28.4
46
3-Year EBITDA Growth Rate -27.20
PDCE's 3-Year EBITDA Growth Rate is ranked lower than
62% of the 342 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -18.50 vs. PDCE: -27.20 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
PDCE' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -54.1  Med: 17.6 Max: 105.1
Current: -27.2
-54.1
105.1
3-Year EPS without NRI Growth Rate 97.50
PDCE's 3-Year EPS without NRI Growth Rate is ranked higher than
91% of the 294 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -8.00 vs. PDCE: 97.50 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
PDCE' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -48.9  Med: 28.8 Max: 121.6
Current: 97.5
-48.9
121.6
GuruFocus has detected 1 Warning Sign with PDC Energy Inc PDCE.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» PDCE's 30-Y Financials

Financials (Next Earnings Date: 2018-02-28)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q4 2016

PDCE Guru Trades in Q4 2016

Caxton Associates 18,512 sh (New)
Paul Tudor Jones 4,565 sh (New)
NWQ Managers 780,506 sh (New)
Sarah Ketterer 2,133,792 sh (+12.82%)
Steven Cohen Sold Out
Jim Simons Sold Out
Leon Cooperman Sold Out
Columbia Wanger 126,067 sh (-27.20%)
» More
Q1 2017

PDCE Guru Trades in Q1 2017

Steven Cohen 100,000 sh (New)
Sarah Ketterer 3,287,928 sh (+54.09%)
NWQ Managers 896,487 sh (+14.86%)
Columbia Wanger 134,651 sh (+6.81%)
Caxton Associates Sold Out
Paul Tudor Jones Sold Out
» More
Q2 2017

PDCE Guru Trades in Q2 2017

Third Avenue Management 72,700 sh (New)
Steven Cohen 383,494 sh (+283.49%)
Sarah Ketterer 5,085,122 sh (+54.66%)
Columbia Wanger 143,457 sh (+6.54%)
NWQ Managers 585,833 sh (-34.65%)
» More
Q3 2017

PDCE Guru Trades in Q3 2017

NWQ Managers 934,532 sh (+59.52%)
Third Avenue Management 79,000 sh (+8.67%)
Sarah Ketterer 4,857,925 sh (-4.47%)
Columbia Wanger 133,576 sh (-6.89%)
Steven Cohen 158,300 sh (-58.72%)
» More
» Details

Insider Trades

Latest Guru Trades with PDCE

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
NWQ Managers 2017-09-30 Add 59.52%0.25%$37.2 - $50.09 $ 44.975%934,532
Third Avenue Management 2017-09-30 Add 8.67%0.01%$37.2 - $50.09 $ 44.975%79,000
NWQ Managers 2017-06-30 Reduce -34.65%0.26%$40.39 - $64.78 $ 44.97-15%585,833
Third Avenue Management 2017-06-30 New Buy0.14%$40.39 - $64.78 $ 44.97-15%72,700
NWQ Managers 2017-03-31 Add 14.86%0.1%$61.29 - $77.47 $ 44.97-36%896,487
NWQ Managers 2016-12-31 New Buy0.77%$61.33 - $82.01 $ 44.97-35%780,506
Leon Cooperman 2016-12-31 Sold Out 0.09%$61.33 - $82.01 $ 44.97-35%0
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Business Description

Industry: Oil & Gas - E&P » Oil & Gas E&P    NAICS: 213112    SIC: 1311
Compare:LSE:TLW, NYSE:KOS, KAR:PPL, OTCPK:LNGG, NYSE:CHK, NYSE:JAG, NYSE:BSM, MIC:RNFT, SZSE:002221, NYSE:LPI, NYSE:SWN, NAS:XOG, NYSE:CNX, TSX:WCP, NYSE:MTDR, NAS:GPOR, TSX:CPG, TSX:VET, BOM:533106, TSX:PEY » details
Traded in other countries:PD3.Germany,
Headquarter Location:USA
PDC Energy Inc is a domestic independent exploration and production company that produces, develops, acquires and explores for crude oil, natural gas and NGLs with operations in the Wattenberg Field in Colorado, the Utica Shale in southeastern Ohio.

PDC Energy Inc is a domestic independent exploration and production company that produces, develops, acquires and explores for crude oil, natural gas and NGLs with operations in the Wattenberg Field in Colorado, the Utica Shale in southeastern Ohio.

Guru Investment Theses on PDC Energy Inc

Third Avenue Comments on PDC Energy - Jul 27, 2017

PDC Energy (NASDAQ:PDCE)



As touched on earlier in the letter, PDCE is a $2.7 billion independent Exploration and Production company. PDCE has core acreage positions in the Delaware Basin, specifically in Reeves County, Texas and in the Wattenberg Field (Niobrara Shale), in Colorado. Both acreage positions contain prolific high-quality oil and gas rich deposits that have allowed PDCE to grow production levels rapidly (44% growth in 2016) at high return levels. As PDCE ramps up its drilling activities in the Permian Basin, PDCE should be able to continue this growth trajectory, targeting a 25%-40% range over the next several years.



As we have come to understand, with Energy E&P companies: i) you get the quality you pay for and ii) big fieldsget bigger. Both are proving true in PDCE's early drilling results from the Delaware basin. Three recent wells targeting the Wolfcamp interval are producing at a 25% higher rate than their acquisition economics of a year ago. With more productivity initiatives of downspacing well placement intervals, longer lateral drilling of wells and the continued progression of technology and science, we think PDCE's economicswill continue to surprise to the upside.



Despite having made recent acquisitions, notably the $1.6 billion acquisition of 57,000 acres in Reeves County in 2016, PDCE maintains a strong balance sheet,with Debt-to-EBITDA of 2.0x, and targeted to fall to 1.7x by year end. If PDCE is successful at selling its non-core Utica shale assets which are currently being marketed, this leverage ratio would improve further. More importantly, PDCE's revolving credit agreement was just increased to $750 million and remains undrawn, and when combined with over $250 million of cash on the balance sheet, leaves PDCE with almost a $1 billion of liquidity. This liquidity is more than enough to cover the capital expenditure outspend of about $175 million in 2017, with PDCE targeting cash flow neutrality in 2018, or 2019 in an adverse oil price scenario. With its revolver being the first maturity from its credit stack in the year 2020, PDCE has plenty of breathing room.



As PDCE sold off late in the quarter, with the swoon of the broader oil group, we were able to initiate our position close to multi-year low price levels, and with a conservative upside of more than 30% to our estimated NAV. Lastly, PDCE could present conversion potential to a larger E&P looking to expand into these prolific regions, a factor that should offer some downside protection and provide upside optionality not in our valuation calculations.



From Third Avenue Small-Cap Fund's second quarter 2017 shareholder letter.



Check out Third Avenue Management,Martin Whitman latest stock trades

Ratios

vs
industry
vs
history
Forward PE Ratio 62.89
PDCE's Forward PE Ratio is ranked lower than
76% of the 128 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 19.42 vs. PDCE: 62.89 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PB Ratio 1.22
PDCE's PB Ratio is ranked higher than
51% of the 443 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.22 vs. PDCE: 1.22 )
Ranked among companies with meaningful PB Ratio only.
PDCE' s PB Ratio Range Over the Past 10 Years
Min: 0.3  Med: 1.56 Max: 3.07
Current: 1.22
0.3
3.07
PS Ratio 3.48
PDCE's PS Ratio is ranked lower than
55% of the 398 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 3.16 vs. PDCE: 3.48 )
Ranked among companies with meaningful PS Ratio only.
PDCE' s PS Ratio Range Over the Past 10 Years
Min: 0.25  Med: 2.69 Max: 10.19
Current: 3.48
0.25
10.19
Price-to-Operating-Cash-Flow 5.38
PDCE's Price-to-Operating-Cash-Flow is ranked higher than
63% of the 278 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. PDCE: 5.38 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
PDCE' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 1  Med: 5.78 Max: 151.16
Current: 5.38
1
151.16
EV-to-EBIT -13.38
PDCE's EV-to-EBIT is ranked lower than
79% of the 221 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 14.28 vs. PDCE: -13.38 )
Ranked among companies with meaningful EV-to-EBIT only.
PDCE' s EV-to-EBIT Range Over the Past 10 Years
Min: -2291.1  Med: 2.6 Max: 189
Current: -13.38
-2291.1
189
EV-to-EBITDA 22.75
PDCE's EV-to-EBITDA is ranked higher than
59% of the 291 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 8.48 vs. PDCE: 22.75 )
Ranked among companies with meaningful EV-to-EBITDA only.
PDCE' s EV-to-EBITDA Range Over the Past 10 Years
Min: 1.2  Med: 7.85 Max: 64.1
Current: 22.75
1.2
64.1
EV-to-Revenue 4.61
PDCE's EV-to-Revenue is ranked lower than
54% of the 420 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 4.52 vs. PDCE: 4.61 )
Ranked among companies with meaningful EV-to-Revenue only.
PDCE' s EV-to-Revenue Range Over the Past 10 Years
Min: 0.6  Med: 3.6 Max: 14.3
Current: 4.61
0.6
14.3
Current Ratio 0.90
PDCE's Current Ratio is ranked lower than
54% of the 497 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.35 vs. PDCE: 0.90 )
Ranked among companies with meaningful Current Ratio only.
PDCE' s Current Ratio Range Over the Past 10 Years
Min: 0.56  Med: 1.01 Max: 6.24
Current: 0.9
0.56
6.24
Quick Ratio 0.90
PDCE's Quick Ratio is ranked lower than
52% of the 497 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.26 vs. PDCE: 0.90 )
Ranked among companies with meaningful Quick Ratio only.
PDCE' s Quick Ratio Range Over the Past 10 Years
Min: 0.56  Med: 0.99 Max: 6.24
Current: 0.9
0.56
6.24
Days Sales Outstanding 72.67
PDCE's Days Sales Outstanding is ranked lower than
65% of the 380 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 45.74 vs. PDCE: 72.67 )
Ranked among companies with meaningful Days Sales Outstanding only.
PDCE' s Days Sales Outstanding Range Over the Past 10 Years
Min: 24.44  Med: 74.39 Max: 101.89
Current: 72.67
24.44
101.89
Days Payable 344.12
PDCE's Days Payable is ranked higher than
87% of the 246 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 76.90 vs. PDCE: 344.12 )
Ranked among companies with meaningful Days Payable only.
PDCE' s Days Payable Range Over the Past 10 Years
Min: 170.29  Med: 256.42 Max: 347.41
Current: 344.12
170.29
347.41

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -22.50
PDCE's 3-Year Average Share Buyback Ratio is ranked lower than
72% of the 386 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -12.10 vs. PDCE: -22.50 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
PDCE' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -22.5  Med: -5.2 Max: 3.5
Current: -22.5
-22.5
3.5

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 1.22
PDCE's Price-to-Tangible-Book is ranked higher than
53% of the 419 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.33 vs. PDCE: 1.22 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
PDCE' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.35  Med: 1.3 Max: 4.82
Current: 1.22
0.35
4.82
Price-to-Median-PS-Value 1.29
PDCE's Price-to-Median-PS-Value is ranked lower than
76% of the 353 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.93 vs. PDCE: 1.29 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
PDCE' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.11  Med: 0.38 Max: 3.46
Current: 1.29
0.11
3.46
Earnings Yield (Greenblatt) % -7.47
PDCE's Earnings Yield (Greenblatt) % is ranked higher than
66% of the 513 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -1.49 vs. PDCE: -7.47 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
PDCE' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -14.1  Med: 2.7 Max: 70.9
Current: -7.47
-14.1
70.9
Forward Rate of Return (Yacktman) % -23.75
PDCE's Forward Rate of Return (Yacktman) % is ranked lower than
64% of the 184 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -15.30 vs. PDCE: -23.75 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
PDCE' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -86.5  Med: -25.65 Max: 71.6
Current: -23.75
-86.5
71.6

More Statistics

Revenue (TTM) (Mil) $840.20
EPS (TTM) $ -3.97
Beta0.28
Short Percentage of Float11.12%
52-Week Range $36.74 - 84.88
Shares Outstanding (Mil)65.87

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 1,029 998
EPS ($) 0.39 0.71 4.04
EPS without NRI ($) 0.39 0.71 4.04
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($)

Piotroski F-Score Details

Piotroski F-Score: 66
Positive ROAN
Positive CFROAY
Higher ROA yoyY
CFROA > ROAY
Lower Leverage yoyY
Higher Current Ratio yoyN
Less Shares Outstanding yoyN
Higher Gross Margin yoyY
Higher Asset Turnover yoyY

Personalized Checklist

Checklist has been moved to "Checklist" tab.

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}