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Why PDC Energy Is Trading Near an All-Time High

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Why PDC Energy Is Trading Near an All-Time High PART 1 OF 6

Why PDC Energy Is Trading Near an All-Time High

Trading near an all-time high

PDC Energy (PDCE) is one of those rare stocks in the oil and gas industry that is not only trading near its 52-week high but is also trading near a new all-time high.

In December 2016, PDC Energy hit an all-time high of $84.88, and it’s currently trading ~9% below this level. This performance is significant in terms of price metrics, as many other upstream companies are still far from the highs they set in 2014.

Why PDC Energy Is Trading Near an All-Time High

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Rising trend

As seen in the chart above, despite a prolonged downturn in crude oil prices from July 2014 to February 2016, PDC Energy’s stock has been on a rising trend since December 2014. PDCE’s stock price rallied ~32% in 2015 and ~37% in 2016.

In 2016, other oil and gas producers Occidental Petroleum (OXY), Range Resources (RRC), and Energen (EGN) rose ~10%, ~40%, and ~41%, respectively. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose ~38% in 2016.

In this series…

On January 5, 2017, PDC Energy presented at the Goldman Sachs Energy Conference. During the course of this series, we’ll take a closer look at the details presented at the conference. We’ll study PDC Energy’s recent acquisitions and how these acquisitions could benefit it. We’ll also study PDC Energy’s operational details, guidance, hedges, and analyst recommendations.

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