Centennial Resource Development Inc (NASDAQ:CDEV)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $4.74, but opened at $4.60. Centennial Resource Development shares last traded at $4.52, with a volume of 8,646,110 shares traded.
A number of equities analysts have commented on CDEV shares. Bank of America set a $7.00 price target on Centennial Resource Development and gave the stock a “hold” rating in a research note on Tuesday. Piper Jaffray Companies set a $6.00 price target on Centennial Resource Development and gave the stock a “hold” rating in a research note on Friday, August 16th. BidaskClub raised Centennial Resource Development from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 21st. Jefferies Financial Group cut Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Finally, Barclays raised Centennial Resource Development from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $9.00 to $6.00 in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $10.03.
The company has a debt-to-equity ratio of 0.27, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $1.27 billion, a PE ratio of 6.03, a PEG ratio of 8.56 and a beta of 1.98. The company has a 50 day moving average price of $4.85 and a 200-day moving average price of $7.73.
Centennial Resource Development (NASDAQ:CDEV) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). Centennial Resource Development had a net margin of 8.74% and a return on equity of 3.66%. The business had revenue of $244.24 million for the quarter, compared to analysts’ expectations of $232.70 million. During the same period last year, the firm posted $0.24 earnings per share. Centennial Resource Development’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities analysts anticipate that Centennial Resource Development Inc will post 0.31 earnings per share for the current year.
In other Centennial Resource Development news, CFO George S. Glyphis bought 50,000 shares of Centennial Resource Development stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $4.69 per share, with a total value of $234,500.00. Following the completion of the purchase, the chief financial officer now owns 493,195 shares of the company’s stock, valued at $2,313,084.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 31.30% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC bought a new stake in shares of Centennial Resource Development during the second quarter valued at approximately $79,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Centennial Resource Development by 1,433.1% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,996 shares of the oil and natural gas company’s stock valued at $175,000 after purchasing an additional 21,496 shares in the last quarter. Voloridge Investment Management LLC boosted its position in shares of Centennial Resource Development by 24.8% during the second quarter. Voloridge Investment Management LLC now owns 292,862 shares of the oil and natural gas company’s stock valued at $2,223,000 after purchasing an additional 58,105 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Centennial Resource Development during the second quarter valued at approximately $5,066,000. Finally, Jane Street Group LLC bought a new stake in shares of Centennial Resource Development during the second quarter valued at approximately $150,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.
Centennial Resource Development Company Profile (NASDAQ:CDEV)
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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