1. Oil firm PDC Energy Gets Activist Challenge from Investor Kimmeridge

    Oil firm PDC Energy Gets Activist Challenge from Investor Kimmeridge

    (Reuters) - Kimmeridge Energy Management Company on Friday announced a stake in PDC Energy Inc and called on the Denver-based oil and gas producer to cut costs and return more cash to shareholders. In response, PDC Energy said it continued to focus on capital discipline and executing its operational and financial goals, and would update shareholders on its plans when it releases its 2018 earnings on Feb. 28...

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    1. If it can implement a transformative plan, the stock will get rerated and it can be a consolidator. Otherwise, they can be resistant to change, the multiple (PDC trades at) will remain low and it will ultimately get acquired.
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