Centennial Resource Development Inc (NASDAQ:CDEV) – Analysts at SunTrust Banks boosted their Q4 2019 earnings per share estimates for shares of Centennial Resource Development in a research note issued to investors on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will post earnings per share of $0.09 for the quarter, up from their prior estimate of $0.08. SunTrust Banks has a “Buy” rating and a $6.00 price target on the stock. SunTrust Banks also issued estimates for Centennial Resource Development’s Q1 2020 earnings at $0.12 EPS, Q2 2020 earnings at $0.10 EPS, Q3 2020 earnings at $0.10 EPS, Q4 2020 earnings at $0.10 EPS, FY2020 earnings at $0.43 EPS, Q1 2021 earnings at $0.12 EPS and FY2021 earnings at $0.52 EPS.

Several other analysts also recently weighed in on the stock. Barclays raised shares of Centennial Resource Development from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $9.00 to $6.00 in a research report on Friday, August 30th. ValuEngine raised shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. TD Securities downgraded shares of Centennial Resource Development from a “buy” rating to a “hold” rating and dropped their target price for the stock from $8.50 to $6.00 in a research report on Thursday, September 5th. Seaport Global Securities downgraded shares of Centennial Resource Development from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada set a $10.00 target price on shares of Centennial Resource Development and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Centennial Resource Development currently has a consensus rating of “Hold” and a consensus target price of $10.09.

NASDAQ:CDEV opened at $3.16 on Monday. The company has a market cap of $928.84 million, a PE ratio of 4.21, a P/E/G ratio of 8.64 and a beta of 1.97. Centennial Resource Development has a twelve month low of $3.11 and a twelve month high of $20.61. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $4.27 and its two-hundred day moving average is $6.73.

Centennial Resource Development (NASDAQ:CDEV) last issued 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 analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $244.24 million during the quarter, compared to analysts’ expectations of $232.70 million. Centennial Resource Development had a return on equity of 3.66% and a net margin of 8.74%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS.

Several institutional investors and hedge funds have recently bought and sold shares of CDEV. First Trust Advisors LP lifted its stake in shares of Centennial Resource Development by 32.8% in the 1st quarter. First Trust Advisors LP now owns 562,517 shares of the oil and natural gas company’s stock valued at $4,945,000 after purchasing an additional 138,857 shares during the period. Carroll Financial Associates Inc. lifted its stake in shares of Centennial Resource Development by 895.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,335 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 3,000 shares during the period. Peregrine Capital Management LLC acquired a new position in shares of Centennial Resource Development in the 2nd quarter valued at $5,312,000. Whittier Trust Co. lifted its stake in shares of Centennial Resource Development by 4.5% in the 2nd quarter. Whittier Trust Co. now owns 108,676 shares of the oil and natural gas company’s stock valued at $825,000 after purchasing an additional 4,646 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Centennial Resource Development by 13.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 18,708 shares of the oil and natural gas company’s stock valued at $142,000 after purchasing an additional 2,159 shares during the period. Hedge funds and other institutional investors own 97.56% of the company’s stock.

In other Centennial Resource Development news, CFO George S. Glyphis acquired 50,000 shares of the firm’s stock in a transaction on 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 purchase, the chief financial officer now owns 493,195 shares in the company, valued at approximately $2,313,084.55. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 31.30% of the company’s stock.

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.

Further Reading: Intrinsic Value

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

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