Centennial Resource Development Inc (NASDAQ:CDEV) – Analysts at US Capital Advisors issued their Q3 2019 earnings per share (EPS) estimates for shares of Centennial Resource Development in a research note issued to investors on Wednesday, October 16th. US Capital Advisors analyst C. Horwitz anticipates that the oil and natural gas company will post earnings of $0.03 per share for the quarter. US Capital Advisors also issued estimates for Centennial Resource Development’s Q4 2019 earnings at $0.06 EPS.
Centennial Resource Development (NASDAQ:CDEV) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Centennial Resource Development had a return on equity of 3.66% and a net margin of 8.74%. The business had revenue of $244.24 million for the quarter, compared to analysts’ expectations of $232.70 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Centennial Resource Development’s revenue for the quarter was up 12.2% compared to the same quarter last year.
Several other research firms also recently issued reports on CDEV. Guggenheim set a $7.00 price objective on Centennial Resource Development and gave the stock a “buy” rating in a report on Wednesday, August 21st. TD Securities downgraded Centennial Resource Development from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $8.50 to $6.00 in a report on Thursday, September 5th. Piper Jaffray Companies set a $6.00 price objective on Centennial Resource Development and gave the stock a “hold” rating in a report on Friday, August 16th. Barclays upgraded Centennial Resource Development from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $9.00 to $6.00 in a report on Friday, August 30th. Finally, BidaskClub downgraded Centennial Resource Development from a “sell” rating to a “strong sell” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $10.09.
CDEV stock opened at $3.51 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.27. Centennial Resource Development has a 52-week low of $3.11 and a 52-week high of $20.49. The stock’s 50 day moving average is $4.25 and its two-hundred day moving average is $6.71. The company has a market capitalization of $873.55 million, a PE ratio of 4.68, a P/E/G ratio of 8.01 and a beta of 1.97.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Centennial Resource Development by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 17,223,220 shares of the oil and natural gas company’s stock valued at $130,724,000 after acquiring an additional 689,128 shares during the last quarter. BlackRock Inc. boosted its position in Centennial Resource Development by 1.3% during the 2nd quarter. BlackRock Inc. now owns 8,528,703 shares of the oil and natural gas company’s stock valued at $64,733,000 after purchasing an additional 111,187 shares during the period. JPMorgan Chase & Co. boosted its position in Centennial Resource Development by 22.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,268,219 shares of the oil and natural gas company’s stock valued at $23,891,000 after purchasing an additional 597,778 shares during the period. Schroder Investment Management Group boosted its position in Centennial Resource Development by 35.1% during the 2nd quarter. Schroder Investment Management Group now owns 2,398,510 shares of the oil and natural gas company’s stock valued at $18,204,000 after purchasing an additional 622,956 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Centennial Resource Development by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,155,815 shares of the oil and natural gas company’s stock valued at $8,773,000 after purchasing an additional 12,489 shares during the period. Institutional investors and hedge funds own 97.56% of the company’s stock.
In other news, CFO George S. Glyphis purchased 50,000 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $234,500.00. Following the acquisition, the chief financial officer now owns 493,195 shares of the company’s stock, valued at $2,313,084.55. The acquisition was disclosed in a filing with the SEC, which is available at this link. 31.30% of the stock is currently owned by insiders.
Centennial Resource Development Company Profile
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.
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