$0.45 EPS Expected for Centennial Resource Development, Inc. (NASDAQ:CDEV) This Quarter

Equities analysts expect that Centennial Resource Development, Inc. (NASDAQ:CDEVGet Rating) will report earnings of $0.45 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Centennial Resource Development’s earnings, with estimates ranging from $0.31 to $0.55. Centennial Resource Development reported earnings per share of $0.02 during the same quarter last year, which indicates a positive year-over-year growth rate of 2,150%. The business is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Centennial Resource Development will report full year earnings of $1.88 per share for the current year, with EPS estimates ranging from $1.50 to $2.39. For the next fiscal year, analysts forecast that the company will report earnings of $2.00 per share, with EPS estimates ranging from $1.20 to $3.54. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Centennial Resource Development.

Centennial Resource Development (NASDAQ:CDEVGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.35). Centennial Resource Development had a net margin of 15.92% and a return on equity of 12.30%. During the same quarter last year, the firm earned ($0.01) EPS.

CDEV has been the subject of several research reports. Zacks Investment Research lowered Centennial Resource Development from a “buy” rating to a “hold” rating and set a $7.25 target price for the company. in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on Centennial Resource Development from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, March 2nd. Piper Sandler lowered their target price on shares of Centennial Resource Development to $13.00 and set a “na” rating for the company in a report on Wednesday. KeyCorp boosted their price objective on shares of Centennial Resource Development from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, April 8th. Finally, Stifel Nicolaus raised Centennial Resource Development from a “hold” rating to a “buy” rating and lifted their price objective for the company from $8.40 to $11.20 in a research report on Friday, April 1st. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.11.

Centennial Resource Development stock traded down $0.47 during midday trading on Friday, reaching $6.46. The stock had a trading volume of 994,352 shares, compared to its average volume of 9,337,157. Centennial Resource Development has a 12 month low of $3.90 and a 12 month high of $9.58. The firm’s 50-day moving average price is $8.20 and its 200 day moving average price is $7.60. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1.84 billion, a PE ratio of 10.95 and a beta of 5.21.

In other news, Director Silver Run Sponsor, Llc sold 2,425,000 shares of the company’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $8.76, for a total transaction of $21,243,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 29.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CDEV. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Centennial Resource Development during the 4th quarter valued at $30,000. Marshall Wace LLP acquired a new position in Centennial Resource Development during the 4th quarter valued at approximately $30,000. Nisa Investment Advisors LLC bought a new stake in Centennial Resource Development in the 1st quarter valued at about $35,000. C M Bidwell & Associates Ltd. bought a new position in Centennial Resource Development in the 1st quarter worth approximately $37,000. Finally, US Bancorp DE increased its holdings in shares of Centennial Resource Development by 243.6% during the first quarter. US Bancorp DE now owns 4,666 shares of the oil and natural gas company’s stock valued at $38,000 after purchasing an additional 3,308 shares during the period.

About Centennial Resource Development (Get Rating)

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company's properties consist of acreage blocks primarily in Reeves County, West Texas and Lea County, New Mexico.

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