Centennial Resource Development Inc (NASDAQ:CDEV) – Stock analysts at SunTrust Banks dropped their FY2019 EPS estimates for shares of Centennial Resource Development in a note issued to investors on Tuesday, November 5th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will post earnings per share of $0.20 for the year, down from their prior estimate of $0.27. SunTrust Banks currently has a “Buy” rating and a $6.00 target price on the stock. SunTrust Banks also issued estimates for Centennial Resource Development’s Q4 2019 earnings at $0.05 EPS, Q1 2020 earnings at $0.08 EPS, Q2 2020 earnings at $0.08 EPS, FY2020 earnings at $0.37 EPS, Q1 2021 earnings at $0.13 EPS, Q3 2021 earnings at $0.14 EPS and FY2021 earnings at $0.54 EPS.
Centennial Resource Development (NASDAQ:CDEV) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). The company had revenue of $244.24 million during the quarter, compared to the consensus estimate of $232.70 million. Centennial Resource Development had a net margin of 4.08% and a return on equity of 2.32%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS.
Other equities analysts also recently issued research reports about the company. Barclays upgraded Centennial Resource Development from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $9.00 to $6.00 in a report on Friday, August 30th. Jefferies Financial Group downgraded Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Bank of America set a $7.00 price objective on Centennial Resource Development and gave the stock a “hold” rating in a report on Tuesday, September 10th. TD Securities downgraded Centennial Resource Development from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $8.50 to $6.00 in a report on Thursday, September 5th. Finally, 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. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $10.09.
Shares of Centennial Resource Development stock traded up $0.07 during midday trading on Friday, reaching $3.57. 291,438 shares of the company’s stock traded hands, compared to its average volume of 5,880,861. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.53 and a current ratio of 0.56. The company has a market cap of $981.36 million, a PE ratio of 4.76, a price-to-earnings-growth ratio of 10.16 and a beta of 1.91. The stock has a 50 day moving average of $3.88 and a 200-day moving average of $6.23. Centennial Resource Development has a 12 month low of $3.11 and a 12 month high of $19.93.
Institutional investors have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. lifted its holdings in Centennial Resource Development by 895.5% in the second quarter. Carroll Financial Associates Inc. now owns 3,335 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 3,000 shares during the period. Verition Fund Management LLC bought a new position in Centennial Resource Development in the second quarter valued at about $79,000. Marshall Wace LLP bought a new position in Centennial Resource Development in the second quarter valued at about $116,000. Signition LP bought a new position in Centennial Resource Development in the second quarter valued at about $129,000. Finally, Pinnacle Associates Ltd. lifted its holdings in Centennial Resource Development by 46.2% in the second quarter. Pinnacle Associates Ltd. now owns 17,100 shares of the oil and natural gas company’s stock valued at $130,000 after acquiring an additional 5,400 shares during the period. 97.66% of the stock is currently owned by institutional investors.
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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