Centennial Resource Development Inc (CDEV) Expected to Post Earnings of $0.26 Per Share
Equities research analysts expect Centennial Resource Development Inc (NASDAQ:CDEV) to announce earnings per share (EPS) of $0.26 for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Centennial Resource Development’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.20. Centennial Resource Development posted earnings per share of $0.11 during the same quarter last year, which indicates a positive year over year growth rate of 136.4%. The firm is scheduled to issue its next earnings results on Monday, February 25th.
According to Zacks, analysts expect that Centennial Resource Development will report full-year earnings of $0.92 per share for the current financial year, with EPS estimates ranging from $0.87 to $0.97. For the next fiscal year, analysts expect that the firm will report earnings of $1.37 per share, with EPS estimates ranging from $0.97 to $1.93. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Centennial Resource Development.
Centennial Resource Development (NASDAQ:CDEV) last posted its earnings results on Wednesday, November 7th. The oil and natural gas company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). The business had revenue of $234.88 million during the quarter, compared to the consensus estimate of $239.43 million. Centennial Resource Development had a return on equity of 6.57% and a net margin of 23.90%. Centennial Resource Development’s revenue for the quarter was up 110.4% compared to the same quarter last year.
CDEV stock traded down $0.79 during trading hours on Thursday, hitting $16.30. The company’s stock had a trading volume of 479,864 shares, compared to its average volume of 2,284,632. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 58.21 and a beta of 1.51. Centennial Resource Development has a 12 month low of $15.78 and a 12 month high of $23.12.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hartree Partners LP acquired a new position in Centennial Resource Development during the 3rd quarter valued at $1,092,000. William Blair Investment Management LLC raised its stake in Centennial Resource Development by 112.9% during the 3rd quarter. William Blair Investment Management LLC now owns 746,956 shares of the oil and natural gas company’s stock valued at $16,321,000 after purchasing an additional 396,185 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Centennial Resource Development during the 3rd quarter valued at $647,000. Hsbc Holdings PLC acquired a new position in Centennial Resource Development during the 3rd quarter valued at $364,000. Finally, Advisory Research Inc. acquired a new position in Centennial Resource Development during the 3rd quarter valued at $25,349,000. 94.62% of the stock is owned by institutional investors and hedge funds.
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.
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