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PDC Energy

Nasdaq:PDCE
Snowflake Description

Reasonable growth potential and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PDCE
Nasdaq
$2B
Market Cap
  1. Home
  2. US
  3. Energy
Company description

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 last earnings update was 77 days ago. More info.


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  • PDC Energy has significant price volatility in the past 3 months.
PDCE Share Price and Events
7 Day Returns
-5.7%
NasdaqGS:PDCE
-2.9%
US Oil and Gas
-0.3%
US Market
1 Year Returns
-51.7%
NasdaqGS:PDCE
-17.5%
US Oil and Gas
3.4%
US Market
PDCE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PDC Energy (PDCE) -5.7% -13.9% -33.7% -51.7% -43.6% -45.7%
US Oil and Gas -2.9% 1.2% -7.7% -17.5% -6.8% -38.8%
US Market -0.3% 2.9% 2.1% 3.4% 36.2% 41.3%
1 Year Return vs Industry and Market
  • PDCE underperformed the Oil and Gas industry which returned -17.5% over the past year.
  • PDCE underperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
PDCE
Industry
5yr Volatility vs Market

PDCE Value

 Is PDC Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PDC Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for PDC Energy.

NasdaqGS:PDCE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:PDCE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.92 (1 + (1- 21%) (67.66%))
1.276
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.28
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.276 * 5.96%)
10.34%

Discounted Cash Flow Calculation for NasdaqGS:PDCE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PDC Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:PDCE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.34%)
2020 242.39 Analyst x11 219.69
2021 399.13 Analyst x3 327.86
2022 168.10 Analyst x1 125.15
2023 204.20 Analyst x1 137.78
2024 186.37 Est @ -8.73% 113.97
2025 176.50 Est @ -5.29% 97.83
2026 171.41 Est @ -2.89% 86.11
2027 169.35 Est @ -1.2% 77.10
2028 169.31 Est @ -0.02% 69.87
2029 170.67 Est @ 0.8% 63.83
Present value of next 10 years cash flows $1,319.19
NasdaqGS:PDCE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $170.67 × (1 + 2.73%) ÷ (10.34% – 2.73%)
$2,305.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,305.44 ÷ (1 + 10.34%)10
$862.22
NasdaqGS:PDCE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,319.19 + $862.22
$2,181.41
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,181.41 / 66.28
$32.91
NasdaqGS:PDCE Discount to Share Price
Calculation Result
Value per share (USD) From above. $32.91
Current discount Discount to share price of $29.34
= -1 x ($29.34 - $32.91) / $32.91
10.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price PDC Energy is available for.
Intrinsic value
11%
Share price is $29.34 vs Future cash flow value of $32.91
Current Discount Checks
For PDC Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PDC Energy's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • PDC Energy's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PDC Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PDC Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:PDCE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-1.59
NasdaqGS:PDCE Share Price ** NasdaqGS (2019-07-18) in USD $29.34
United States of America Oil and Gas Industry PE Ratio Median Figure of 101 Publicly-Listed Oil and Gas Companies 12.62x
United States of America Market PE Ratio Median Figure of 3,083 Publicly-Listed Companies 17.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PDC Energy.

NasdaqGS:PDCE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:PDCE Share Price ÷ EPS (both in USD)

= 29.34 ÷ -1.59

-18.47x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PDC Energy is loss making, we can't compare its value to the US Oil and Gas industry average.
  • PDC Energy is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does PDC Energy's expected growth come at a high price?
Raw Data
NasdaqGS:PDCE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -18.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
49.1%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 79 Publicly-Listed Oil and Gas Companies 0.4x
United States of America Market PEG Ratio Median Figure of 2,124 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for PDC Energy, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PDC Energy's assets?
Raw Data
NasdaqGS:PDCE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $36.42
NasdaqGS:PDCE Share Price * NasdaqGS (2019-07-18) in USD $29.34
United States of America Oil and Gas Industry PB Ratio Median Figure of 196 Publicly-Listed Oil and Gas Companies 1.05x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.8x
NasdaqGS:PDCE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:PDCE Share Price ÷ Book Value per Share (both in USD)

= 29.34 ÷ 36.42

0.81x

* Primary Listing of PDC Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PDC Energy is good value based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess PDC Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. PDC Energy has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PDCE Future Performance

 How is PDC Energy expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
49.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PDC Energy expected to grow at an attractive rate?
  • PDC Energy's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • PDC Energy's earnings growth is expected to exceed the United States of America market average.
  • PDC Energy's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:PDCE Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:PDCE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 49.1%
NasdaqGS:PDCE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 14.6%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:PDCE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:PDCE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 2,199 1,529 592 2
2022-12-31 2,096 1,454 560 2
2021-12-31 1,876 1,282 501 3
2020-12-31 1,619 1,111 292 9
2019-12-31 1,204 888 -1 7
NasdaqGS:PDCE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,328 866 -105
2018-12-31 1,313 889 2
2018-09-30 1,187 755 -99
2018-06-30 1,056 706 -388
2018-03-31 960 663 -187
2017-12-31 865 598 -128
2017-09-30 774 546 -261
2017-06-30 699 561 8
2017-03-31 622 525 -128
2016-12-31 477 486 -246
2016-09-30 457 489 -187
2016-06-30 415 462 -205

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PDC Energy's earnings are expected to grow significantly at over 20% yearly.
  • PDC Energy's revenue is expected to grow by 14.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:PDCE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from PDC Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:PDCE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 9.41 9.71 9.10 2.00
2022-12-31 8.89 9.09 8.68 2.00
2021-12-31 7.65 8.17 7.13 2.00
2020-12-31 4.43 7.07 2.61 9.00
2019-12-31 0.05 0.74 -0.28 4.00
NasdaqGS:PDCE Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -1.59
2018-12-31 0.03
2018-09-30 -1.50
2018-06-30 -5.89
2018-03-31 -2.83
2017-12-31 -1.94
2017-09-30 -4.07
2017-06-30 0.14
2017-03-31 -2.33
2016-12-31 -5.01
2016-09-30 -4.22
2016-06-30 -4.88

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • PDC Energy is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PDC Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PDC Energy has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PDCE Past Performance

  How has PDC Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PDC Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PDC Energy does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare PDC Energy's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare PDC Energy's 1-year growth to the US Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
PDC Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PDC Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:PDCE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,327.80 -105.01 180.61
2018-12-31 1,313.07 2.02 176.71
2018-09-30 1,186.83 -99.19 164.40
2018-06-30 1,055.60 -388.30 186.34
2018-03-31 959.50 -186.79 178.78
2017-12-31 864.84 -127.50 167.70
2017-09-30 774.12 -260.78 154.42
2017-06-30 698.71 8.45 115.97
2017-03-31 621.82 -128.25 109.22
2016-12-31 477.19 -245.93 104.94
2016-09-30 456.99 -187.27 107.76
2016-06-30 414.58 -205.45 95.53
2016-03-31 397.84 -156.87 92.72
2015-12-31 392.14 -68.28 91.06
2015-09-30 356.75 12.67 58.55
2015-06-30 389.02 108.24 96.93
2015-03-31 446.80 125.73 94.85
2014-12-31 545.90 107.26 93.01
2014-09-30 573.08 38.09 115.03
2014-06-30 534.69 -29.90 73.01
2014-03-31 469.97 18.44 68.98
2013-12-31 394.83 -21.11 70.05
2013-09-30 362.45 -55.54 79.48
2013-06-30 331.16 -69.64 78.07
2013-03-31 302.94 -69.41 79.93
2012-12-31 277.86 -19.36 73.02
2012-09-30 301.86 -14.78 65.44

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if PDC Energy has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if PDC Energy has efficiently used its assets last year compared to the US Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if PDC Energy improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess PDC Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PDC Energy has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PDCE Health

 How is PDC Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PDC Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PDC Energy's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • PDC Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of PDC Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PDC Energy Company Filings, last reported 3 months ago.

NasdaqGS:PDCE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,409.76 1,289.05 1.11
2018-12-31 2,526.71 1,194.88 1.40
2018-09-30 2,342.24 1,234.73 1.37
2018-06-30 2,340.31 1,179.12 1.43
2018-03-31 2,497.37 1,154.53 45.92
2017-12-31 2,507.65 1,151.93 180.68
2017-09-30 2,426.60 1,051.57 136.43
2017-06-30 2,714.44 1,049.00 202.29
2017-03-31 2,671.18 1,046.46 257.51
2016-12-31 2,622.75 1,043.95 244.10
2016-09-30 1,986.06 1,041.58 1,197.69
2016-06-30 1,424.57 493.00 109.10
2016-03-31 1,516.45 606.90 238.55
2015-12-31 1,287.20 642.38 0.85
2015-09-30 1,279.74 662.06 3.69
2015-06-30 1,316.59 664.00 1.38
2015-03-31 1,360.23 609.95 67.49
2014-12-31 1,137.36 655.48 16.07
2014-09-30 1,002.02 675.91 18.24
2014-06-30 943.27 668.92 40.36
2014-03-31 968.14 667.20 147.19
2013-12-31 967.59 604.99 192.64
2013-09-30 951.10 653.80 298.49
2013-06-30 688.13 639.13 43.21
2013-03-31 665.91 687.97 2.49
2012-12-31 703.18 676.58 2.46
2012-09-30 828.81 633.91 2.91
  • PDC Energy's level of debt (53.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (68.9% vs 53.7% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • PDC Energy has less than a year of cash runway based on current free cash flow.
  • PDC Energy has less than a year of cash runway if free cash flow continues to grow at historical rates of 56.1% each year.
X
Financial health checks
We assess PDC Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PDC Energy has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PDCE Dividends

 What is PDC Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from PDC Energy dividends. Estimated to be 0% next year.
If you bought $2,000 of PDC Energy shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate PDC Energy's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate PDC Energy's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:PDCE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 67 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:PDCE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 3.00
2020-12-31 0.00 4.00
2019-12-31 0.00 5.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as PDC Energy has not reported any payouts.
  • Unable to verify if PDC Energy's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of PDC Energy's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as PDC Energy has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of PDC Energy's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess PDC Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PDC Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PDC Energy has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PDCE Management

 What is the CEO of PDC Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bart Brookman
COMPENSATION $6,967,823
AGE 57
TENURE AS CEO 4.5 years
CEO Bio

Mr. Barton R. Brookman, Jr., also known as Bart, has been the Chief Executive Officer and President at PDC Energy, Inc., since January 1, 2015 and June 2014 respectively. Mr. Brookman served as the Chief Operating Officer of PDC energy, Inc -General partner at Rockies Region 2007 Limited Partnership from June 2013 to December 2014 and Executive Vice President from June 2013 to June 2014. He served as Senior Vice President of Exploration & Production of Petroleum Development Corporation and of PDC Energy, Inc. from March 8, 2008 to June 11, 2013. He served as the Vice President of Exploration and Production at Petroleum Development Corp. since joining it in July 2005. He served as a Vice President of Patina Oil & Gas Corp., since January 2001 and District Operations Manager from 1996 to December 2000. Mr. Brookman worked for Patina Oil and Gas and its predecessor Snyder Oil Corporation from 1988 to 2005 for 17 years in a series of positions of increasing responsibility, ending his service as a Vice President of Operations of Patina. From 1988 to 1996, he served as a District Operations Manager of Snyder Oil Corporation. From 1986 to 1988, he served as a Petroleum Engineer for Ladd Petroleum Corporation, an affiliate of General Electric. He has been Director of PDC Energy, Inc. since January 1, 2015. He serves as a Director at PDC Permian, Inc. Mr. Brookman holds a Bachelor of Science in Petroleum Engineering from the Colorado School of Mines and an MS in Finance from the University of Colorado, Denver.

CEO Compensation
  • Bart's compensation has increased whilst company is loss making.
  • Bart's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the PDC Energy management team in years:

2.5
Average Tenure
58
Average Age
  • The tenure for the PDC Energy management team is about average.
Management Team

Bart Brookman

TITLE
CEO, President & Director
COMPENSATION
$7M
AGE
57
TENURE
4.5 yrs

R. Meyers

TITLE
Senior VP & CFO
COMPENSATION
$2M
AGE
44
TENURE
1.5 yrs

Scott Reasoner

TITLE
Senior VP & COO
COMPENSATION
$3M
AGE
58
TENURE
2.5 yrs

Lance Lauck

TITLE
Executive Vice President of Corporate Development & Strategy
COMPENSATION
$3M
AGE
57
TENURE
4.5 yrs

Douglas Griggs

TITLE
Chief Accounting Officer
AGE
59
TENURE
1.1 yrs

James Lillo

TITLE
Vice President Engineering & Technology
AGE
64
TENURE
7.8 yrs

John DeLawder

TITLE
Senior Vice President of Corporate Administration
AGE
58
TENURE
2.5 yrs

Mike Edwards

TITLE
Senior Director of Investor Relations
AGE
60
TENURE
10 yrs

Nicole Martinet

TITLE
General Counsel
AGE
42
TENURE
0.5 yrs

George Courcier

TITLE
Vice President of Marketing & Midstream
AGE
62
Board of Directors Tenure

Average tenure and age of the PDC Energy board of directors in years:

6.3
Average Tenure
57.5
Average Age
  • The tenure for the PDC Energy board of directors is about average.
Board of Directors

Jeffrey Swoveland

TITLE
Non-Executive Chairman
COMPENSATION
$383K
AGE
64
TENURE
8.1 yrs

Bart Brookman

TITLE
CEO, President & Director
COMPENSATION
$7M
AGE
57
TENURE
4.5 yrs

David Parke

TITLE
Director
COMPENSATION
$264K
AGE
52
TENURE
15.7 yrs

Tony Crisafio

TITLE
Independent Director
COMPENSATION
$274K
AGE
66
TENURE
12.8 yrs

Randy Nickerson

TITLE
Director
COMPENSATION
$259K
AGE
57
TENURE
2.3 yrs

Larry Mazza

TITLE
Director
COMPENSATION
$239K
AGE
58
TENURE
11.7 yrs

Mark Ellis

TITLE
Director
COMPENSATION
$239K
AGE
63
TENURE
1.8 yrs

Christina Ibrahim

TITLE
Director
COMPENSATION
$239K
AGE
51
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by PDC Energy individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Jun 19 Sell Kimmeridge Energy Management Company, LLC Company 18. Jun 19 18. Jun 19 -100,000 $34.06 $-3,406,000
13. May 19 Buy Mark Ellis Individual 10. May 19 10. May 19 10,000 $37.30 $373,000
13. May 19 Sell David Parke Individual 09. May 19 09. May 19 -800 $36.05 $-28,840
18. Apr 19 Sell Nicole Martinet Individual 17. Apr 19 17. Apr 19 -500 $45.24 $-22,620
16. Apr 19 Sell Scott Reasoner Individual 15. Apr 19 15. Apr 19 -1,714 $44.01 $-75,433
16. Apr 19 Sell Barton Brookman Individual 12. Apr 19 12. Apr 19 -1,500 $45.10 $-67,650
16. Apr 19 Sell Lance Lauck Individual 12. Apr 19 12. Apr 19 -500 $45.00 $-22,500
16. Apr 19 Sell Nicole Martinet Individual 15. Apr 19 15. Apr 19 -500 $44.01 $-22,005
22. Mar 19 Sell Lance Lauck Individual 20. Mar 19 20. Mar 19 -500 $45.00 $-22,500
18. Mar 19 Buy James Adelson Individual 13. Mar 19 13. Mar 19 650 $40.63 $26,410
18. Mar 19 Buy Alice Gould Individual 14. Mar 19 15. Mar 19 680 $40.66 $27,584
15. Mar 19 Sell Scott Reasoner Individual 13. Mar 19 13. Mar 19 -1,300 $40.00 $-52,000
22. Feb 19 Buy Kimmeridge Energy Management Company, LLC Company 09. Jan 19 12. Feb 19 3,382,900 $33.92 $114,747,968
05. Feb 19 Sell Anthony Crisafio Individual 31. Jan 19 31. Jan 19 -1,500 $34.21 $-51,315
15. Nov 18 Sell David Parke Individual 13. Nov 18 13. Nov 18 -700 $40.07 $-28,047
06. Nov 18 Sell Barton Brookman Individual 02. Nov 18 02. Nov 18 -1,500 $45.00 $-67,500
17. Oct 18 Sell Scott Reasoner Individual 15. Oct 18 15. Oct 18 -1,341 $50.43 $-67,627
11. Oct 18 Sell Lance Lauck Individual 09. Oct 18 09. Oct 18 -500 $52.50 $-26,250
03. Oct 18 Sell Lance Lauck Individual 01. Oct 18 01. Oct 18 -1,000 $49.09 $-49,090
03. Oct 18 Sell Barton Brookman Individual 01. Oct 18 01. Oct 18 -1,500 $49.09 $-73,635
06. Sep 18 Sell Barton Brookman Individual 04. Sep 18 04. Sep 18 -1,500 $52.71 $-79,065
31. Aug 18 Sell Jeffrey Swoveland Individual 29. Aug 18 29. Aug 18 -4,000 $56.17 $-224,680
16. Aug 18 Sell David Parke Individual 14. Aug 18 14. Aug 18 -600 $53.03 $-31,818
02. Aug 18 Sell Barton Brookman Individual 01. Aug 18 01. Aug 18 -1,500 $62.57 $-93,855
X
Management checks
We assess PDC Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PDC Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PDCE News

Simply Wall St News

Did You Manage To Avoid PDC Energy's (NASDAQ:PDCE) 49% Share Price Drop?

(NASDAQ:PDCE) shareholders over the last year, as the share price declined 49%. … But if revenue keeps growing, then at a certain point the share price would likely follow. … So we recommend checking out this free report showing consensus forecasts A Different Perspective Investors in PDC Energy had a tough year, with a total loss of 49%, against a market gain of about 6.2%.

Simply Wall St -

Estimating The Intrinsic Value Of PDC Energy, Inc. (NASDAQ:PDCE)

Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. … Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $63.08 $279.24 $382.30 $168.10 $204.20 $181.56 $168.96 $162.13 $158.87 $157.94 Growth Rate Estimate Source Analyst x8 Analyst x9 Analyst x2 Analyst x1 Analyst x1 Est @ -11.09% Est @ -6.94% Est @ -4.04% Est @ -2.01% Est @ -0.59% Present Value ($, Millions) Discounted @ 9.97% $57.36 $230.90 $287.47 $114.95 $126.97 $102.66 $86.87 $75.81 $67.55 $61.07 Present Value of 10-year Cash Flow (PVCF)= $1.21b "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … NasdaqGS:PDCE Intrinsic value, June 21st 2019 Important assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

A Look At The Intrinsic Value Of PDC Energy, Inc. (NASDAQ:PDCE)

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $63.08 $279.24 $382.30 $168.10 $204.20 $181.56 $168.96 $162.13 $158.87 $157.94 Growth Rate Estimate Source Analyst x8 Analyst x9 Analyst x2 Analyst x1 Analyst x1 Est @ -11.09% Est @ -6.94% Est @ -4.04% Est @ -2.01% Est @ -0.59% Present Value ($, Millions) Discounted @ 9.97% $57.36 $230.90 $287.47 $114.95 $126.97 $102.66 $86.87 $75.81 $67.55 $61.07 Present Value of 10-year Cash Flow (PVCF)= $1.21b "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$158m × (1 + 2.7%) ÷ (10% – 2.7%) = US$2.2b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$2.2b ÷ ( 1 + 10%)10 = $866.64m The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is $2.08b. … NasdaqGS:PDCE Intrinsic value, June 21st 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Is PDC Energy, Inc.'s (NASDAQ:PDCE) CEO Pay Justified?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … We examined companies with market caps from US$1.0b to US$3.2b, and discovered that the median CEO total compensation of that group was US$4.1m. … pays Bart Brookman more than the median CEO remuneration at companies of a similar size, in the same market.

Simply Wall St -

Should You Be Worried About Insider Transactions At PDC Energy, Inc. (NASDAQ:PDCE)?

So we'll take a look at whether insiders have been buying or selling shares in PDC Energy, Inc. … Over the last year we saw more insider selling of PDC Energy shares, than buying. … Insiders at PDC Energy Have Sold Stock Recently There was substantially more insider selling, than buying, of PDC Energy shares over the last three months.

Simply Wall St -

Should We Be Cautious About PDC Energy, Inc.'s (NASDAQ:PDCE) ROE Of 0.08%?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Another way to think of that is that for every $1 worth of equity in the company, it was able to earn $0.00080. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Does PDC Energy, Inc.'s (NASDAQ:PDCE) Debt Level Pose A Problem?

This article will examine PDCE’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis. … PDCE’s Debt (And Cash Flows)

Simply Wall St -

Why PDC Energy, Inc.’s (NASDAQ:PDCE) Use Of Investor Capital Doesn’t Look Great

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

Does PDC Energy, Inc.'s (NASDAQ:PDCE) CEO Salary Reflect Performance?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Bart Brookman's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$2.4b, and pays its CEO total annual compensation worth US$5.8m.

Simply Wall St -

Did PDC Energy, Inc. (NASDAQ:PDCE) Insiders Sell Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in PDC Energy, Inc. … In the last twelve months, the biggest single sale by an insider was when Executive Vice President of Corporate Development & Strategy Lance Lauck sold US$540k worth of shares at a price of US$53.95 per share. … Although we don't gain confidence from insider selling, we note that this large sale was at well above current price of US$34.02.

Simply Wall St -

PDCE Company Info

Description

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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc. in June 2012. PDC Energy, Inc. was founded in 1969 and is headquartered in Denver, Colorado.

Details
Name: PDC Energy, Inc.
PDCE
Exchange: NasdaqGS
Founded: 1969
$1,944,732,951
66,282,650
Website: http://www.pdce.com
Address: PDC Energy, Inc.
1775 Sherman Street,
Suite 3000,
Denver,
Colorado, 80203,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS PDCE Common Stock Nasdaq Global Select US USD 31. Aug 1976
DB PD3 Common Stock Deutsche Boerse AG DE EUR 31. Aug 1976
Number of employees
Current staff
Staff numbers
600
PDC Energy employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 23:46
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/07/18
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.