Centennial Resource Development (NASDAQ:CDEV) will be issuing its quarterly earnings data after the market closes on Monday, August 3rd. Analysts expect the company to announce earnings of ($0.23) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.
Centennial Resource Development (NASDAQ:CDEV) last announced its earnings results on Monday, May 4th. The oil and natural gas company reported ($1.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($1.92). The company had revenue of $192.77 million for the quarter, compared to the consensus estimate of $209.29 million. Centennial Resource Development had a negative net margin of 56.81% and a negative return on equity of 0.90%. On average, analysts expect Centennial Resource Development to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Shares of CDEV opened at $0.79 on Friday. The firm’s 50-day moving average price is $0.96 and its 200-day moving average price is $1.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.41. Centennial Resource Development has a 1-year low of $0.24 and a 1-year high of $6.23.
In other news, Director Non-Eci Usrpi Aiv Riverstone bought 25,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were purchased at an average price of $2.15 per share, for a total transaction of $53,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Us Centennial Holdings Ll Rel bought 1,017,475 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average price of $0.82 per share, for a total transaction of $834,329.50. The disclosure for this purchase can be found here. In the last quarter, insiders bought 8,037,916 shares of company stock worth $7,173,825. Insiders own 31.90% of the company’s stock.
A number of brokerages have recently weighed in on CDEV. Royal Bank of Canada reaffirmed a “hold” rating and set a $1.50 target price on shares of Centennial Resource Development in a research note on Monday, July 13th. Scotiabank lifted their target price on shares of Centennial Resource Development to $0.80 and gave the company a “sector underperform” rating in a research note on Monday, July 13th. KeyCorp reaffirmed a “buy” rating and set a $2.00 target price (up previously from $1.00) on shares of Centennial Resource Development in a research note on Thursday, June 11th. Wells Fargo & Co reaffirmed a “hold” rating and set a $1.25 target price (up previously from $1.00) on shares of Centennial Resource Development in a research note on Thursday, June 25th. Finally, Zacks Investment Research lowered shares of Centennial Resource Development from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research note on Monday, June 8th. Eight research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $3.39.
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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