Analysts forecast that Centennial Resource Development Inc (NASDAQ:CDEV) will post $0.23 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Centennial Resource Development’s earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.26. 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 109.1%. The firm is expected to report its next earnings results on Monday, February 25th.

According to Zacks, analysts expect that Centennial Resource Development will report full-year earnings of $0.87 per share for the current year, with EPS estimates ranging from $0.81 to $0.92. For the next fiscal year, analysts forecast that the firm will post earnings of $1.07 per share, with EPS estimates ranging from $0.60 to $1.93. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Centennial Resource Development.

Centennial Resource Development (NASDAQ:CDEV) last posted its quarterly earnings results on Wednesday, November 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). Centennial Resource Development had a net margin of 23.90% and a return on equity of 6.57%. The business had revenue of $234.88 million during the quarter, compared to the consensus estimate of $239.43 million. Centennial Resource Development’s quarterly revenue was up 110.4% compared to the same quarter last year.

Several research firms have recently issued reports on CDEV. Jefferies Financial Group began coverage on shares of Centennial Resource Development in a research report on Thursday, August 23rd. They issued a “buy” rating and a $23.00 price target on the stock. Stephens began coverage on shares of Centennial Resource Development in a research report on Thursday. They issued a “weight” rating and a $23.00 price target on the stock. BidaskClub raised shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. TheStreet lowered shares of Centennial Resource Development from a “b-” rating to a “c” rating in a research report on Wednesday, November 14th. Finally, Zacks Investment Research raised shares of Centennial Resource Development from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, October 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. Centennial Resource Development presently has an average rating of “Buy” and an average target price of $24.68.

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in Centennial Resource Development by 27.0% during the 3rd quarter. FMR LLC now owns 39,567,873 shares of the oil and natural gas company’s stock worth $864,558,000 after acquiring an additional 8,410,700 shares during the period. Vanguard Group Inc. grew its stake in Centennial Resource Development by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,754,084 shares of the oil and natural gas company’s stock worth $344,226,000 after buying an additional 370,395 shares in the last quarter. BlackRock Inc. grew its stake in Centennial Resource Development by 5.3% in the 3rd quarter. BlackRock Inc. now owns 7,885,024 shares of the oil and natural gas company’s stock worth $172,288,000 after buying an additional 396,452 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in Centennial Resource Development by 9.4% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 4,924,039 shares of the oil and natural gas company’s stock worth $107,590,000 after buying an additional 424,015 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Centennial Resource Development by 18.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,017,627 shares of the oil and natural gas company’s stock worth $65,933,000 after buying an additional 460,773 shares in the last quarter.

Shares of NASDAQ CDEV traded down $0.93 during midday trading on Friday, hitting $15.04. The company’s stock had a trading volume of 4,486,700 shares, compared to its average volume of 2,422,366. Centennial Resource Development has a one year low of $14.77 and a one year high of $23.12. 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 firm has a market cap of $4.41 billion, a P/E ratio of 53.71 and a beta of 1.39.

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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Earnings History and Estimates for Centennial Resource Development (NASDAQ:CDEV)

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