PDC Energy (PDCE) Update - Mar 27

Post Reply
dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

PDC Energy (PDCE) Update - Mar 27

Post by dan_s »

Today I finished my review of the PDC Energy updated profile.

PDCE is one of the former "Elite Eight" companies that I moved into our High Yield Income Portfolio this year that pays "Fixed + Variable" quarterly dividends. It is an extremely profitable company that does not get the 'love" it deserves from the Wall Street Gang.

It has a SUPER STRONG balance sheet, double-digit annual production growth that is fully funded by operating cash flow, an aggressive stock buyback underway and free cash flow that should be able to keep dividends at or above $1.00/quarter this year.

PDCE is trading today at less than 3X operating cash flow per share.

TipRanks: "Since February 23rd, 5 ranked analysts set 12-month price targets for PDCE. The average price target among the analysts is $79.80. The 5 price targets range from $65 to $93." My current valuation is $102.

My undated forecast model for PDCE has been posted to the EPG website.
Dan Steffens
Energy Prospectus Group
Post Reply