Centennial Resource Development Inc (NASDAQ:CDEV) – Stock analysts at Imperial Capital issued their Q1 2020 earnings estimates for Centennial Resource Development in a research note issued to investors on Wednesday, May 8th. Imperial Capital analyst I. Haas forecasts that the oil and natural gas company will post earnings of $0.18 per share for the quarter. Imperial Capital also issued estimates for Centennial Resource Development’s Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.18 EPS and Q4 2020 earnings at $0.18 EPS.
A number of other equities research analysts have also recently commented on CDEV. BidaskClub cut Centennial Resource Development from a “hold” rating to a “sell” rating in a research note on Thursday. TD Securities lowered their target price on Centennial Resource Development from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday. Credit Suisse Group set a $12.00 target price on Centennial Resource Development and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Zacks Investment Research upgraded Centennial Resource Development from a “sell” rating to a “hold” rating in a research note on Wednesday, February 6th. Finally, Ifs Securities reiterated a “strong-buy” rating on shares of Centennial Resource Development in a research note on Sunday, February 3rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $18.63.
NASDAQ CDEV opened at $10.10 on Thursday. The firm has a market cap of $2.65 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.68 and a beta of 1.94. Centennial Resource Development has a one year low of $8.28 and a one year high of $23.12. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.
Centennial Resource Development (NASDAQ:CDEV) last released its earnings results on Monday, May 6th. The oil and natural gas company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.04. The company had revenue of $214.57 million for the quarter, compared to analysts’ expectations of $211.08 million. Centennial Resource Development had a return on equity of 6.51% and a net margin of 22.43%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS.
Institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC raised its stake in Centennial Resource Development by 158.7% in the 4th quarter. Penserra Capital Management LLC now owns 3,136 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 1,924 shares during the period. Quantamental Technologies LLC bought a new stake in Centennial Resource Development in the 4th quarter valued at about $37,000. Bank of Montreal Can raised its stake in Centennial Resource Development by 7,891.2% in the 1st quarter. Bank of Montreal Can now owns 8,151 shares of the oil and natural gas company’s stock valued at $72,000 after acquiring an additional 8,049 shares during the period. Ffcm LLC bought a new stake in Centennial Resource Development in the 4th quarter valued at about $100,000. Finally, Principal Financial Group Inc. bought a new stake in Centennial Resource Development in the 4th quarter valued at about $117,000.
About Centennial Resource Development
Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.