Centennial Res (NASDAQ:CDEV) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Centennial Res (NASDAQ:CDEV) released its earnings results on Monday. The oil and natural gas company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04, reports.
Centennial Res (NASDAQ CDEV) traded up 0.83% during mid-day trading on Monday, reaching $15.88. The company’s stock had a trading volume of 1,455,358 shares. The firm has a market capitalization of $3.29 billion, a PE ratio of 230.14 and a beta of 2.14. Centennial Res has a 12 month low of $11.08 and a 12 month high of $20.97. The stock’s 50-day moving average is $15.60 and its 200-day moving average is $17.09.
In other Centennial Res news, CFO George S. Glyphis purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were bought at an average price of $15.02 per share, with a total value of $150,200.00. Following the completion of the acquisition, the chief financial officer now owns 20,490 shares in the company, valued at approximately $307,759.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 44.70% of the company’s stock.
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CDEV has been the subject of a number of recent analyst reports. BMO Capital Markets set a $17.00 price target on Centennial Res and gave the stock a “hold” rating in a report on Monday, June 26th. Howard Weil initiated coverage on Centennial Res in a report on Friday, July 21st. They set a “sector outperform” rating and a $21.00 price target for the company. Zacks Investment Research downgraded Centennial Res from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Citigroup Inc. initiated coverage on Centennial Res in a report on Monday, May 1st. They set a “buy” rating and a $21.00 price target for the company. Finally, Scotia Howard Weill initiated coverage on Centennial Res in a report on Friday, July 21st. They set a “sector outperform” rating and a $21.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $22.09.
Centennial Res Company Profile
Centennial Resource Development, Inc is an independent oil and natural gas company. The Company is focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.
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