PDC Energy (PDCE) Update - May 27

PDC Energy (PDCE) Update - May 27

Postby dan_s » Thu May 27, 2021 6:18 pm

My valuation of PDCE is $62.00. First Call's price target is $52.25. It closed today at $41.37.

DENVER, May 27, 2021 (GLOBE NEWSWIRE) -- PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq:PDCE) announced today that its Board of Directors declared a quarterly cash dividend of $0.12 per share on PDC’s outstanding common stock. The dividend will be paid on June 24, 2021 to stockholders of record at the close of business on June 10, 2021.

“We are excited to begin a new era for PDC and its shareholders,” said Bart Brookman, President and CEO. “We welcome the opportunity to return cash to shareholders and believe our continued focus on debt reduction and share repurchases should position us to sustainably grow our dividend over time.”

About PDC Energy, Inc.

PDC Energy, Inc. is a domestic independent exploration and production company that acquires, explores and develops properties for the production of crude oil, natural gas and NGLs, with operations in the Wattenberg Field in Colorado and Delaware Basin in west Texas. Its operations in the Wattenberg Field are focused in the horizontal Niobrara and Codell plays and our Delaware Basin operations are primarily focused in the horizontal Wolfcamp zones.
Dan Steffens
Energy Prospectus Group
dan_s
 
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