Centennial Resource Development (NASDAQ:CDEV) issued its earnings results on Monday. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02, reports. Centennial Resource Development had a negative return on equity of 5.52% and a negative net margin of 49.20%.
Shares of Centennial Resource Development (NASDAQ CDEV) traded up $0.31 on Monday, reaching $19.26. The company had a trading volume of 1,847,826 shares, compared to its average volume of 1,691,335. The stock has a market capitalization of $4,890.00 and a P/E ratio of -16.89. Centennial Resource Development has a 1 year low of $14.10 and a 1 year high of $22.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.43 and a quick ratio of 0.43.
CDEV has been the subject of several analyst reports. BidaskClub downgraded Centennial Resource Development from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Scotiabank reaffirmed a “buy” rating and issued a $22.00 target price on shares of Centennial Resource Development in a research report on Tuesday, November 7th. Stifel Nicolaus set a $25.00 target price on Centennial Resource Development and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Zacks Investment Research downgraded Centennial Resource Development from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Finally, Seaport Global Securities raised Centennial Resource Development from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $23.67.
Centennial Resource Development Company Profile
Centennial Resource Development, Inc is an independent oil and natural gas company. The Company is focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.
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