Centennial Resource Development Inc (NASDAQ:CDEV) – Equities research analysts at SunTrust Banks reduced their FY2019 earnings per share estimates for shares of Centennial Resource Development in a report issued on Tuesday, November 5th. SunTrust Banks analyst N. Dingmann now expects that the oil and natural gas company will post earnings of $0.20 per share 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 released its earnings results on Monday, August 5th. The oil and natural gas company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Centennial Resource Development had a return on equity of 2.32% and a net margin of 4.08%. The company had revenue of $244.24 million during the quarter, compared to analysts’ expectations of $232.70 million. During the same period in the prior year, the company posted $0.24 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis.

A number of other equities research analysts have also recently commented on CDEV. Piper Jaffray Companies set a $6.00 target price on Centennial Resource Development and gave the stock a “hold” rating in a research note on Friday, August 16th. TD Securities cut Centennial Resource Development from a “buy” rating to a “hold” rating and cut their target price for the stock from $8.50 to $6.00 in a research note on Thursday, September 5th. Seaport Global Securities cut Centennial Resource Development from a “buy” rating to a “neutral” rating in a research note on Thursday, October 10th. Royal Bank of Canada set a $10.00 target price on Centennial Resource Development and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, BidaskClub cut Centennial Resource Development from a “sell” rating to a “strong sell” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Centennial Resource Development has an average rating of “Hold” and a consensus price target of $10.09.

Shares of NASDAQ CDEV traded up $0.07 during trading on Friday, reaching $3.57. The company had a trading volume of 291,438 shares, compared to its average volume of 5,880,861. Centennial Resource Development has a 12-month low of $3.11 and a 12-month high of $19.93. The stock has a market cap of $981.36 million, a PE ratio of 4.76, a P/E/G ratio of 10.16 and a beta of 1.91. The business’s 50-day moving average is $3.88 and its 200 day moving average is $6.23. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.31.

Institutional investors have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. boosted its position in shares of Centennial Resource Development by 895.5% during 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 buying an additional 3,000 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Centennial Resource Development during the second quarter valued at $79,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Centennial Resource Development by 18.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 22,199 shares of the oil and natural gas company’s stock valued at $100,000 after buying an additional 3,491 shares during the last quarter. Signition LP boosted its position in shares of Centennial Resource Development by 32.4% during the third quarter. Signition LP now owns 22,560 shares of the oil and natural gas company’s stock valued at $102,000 after buying an additional 5,521 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Centennial Resource Development during the second quarter valued at $116,000. 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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Earnings History and Estimates for Centennial Resource Development (NASDAQ:CDEV)

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