Zacks: Analysts Anticipate Centennial Resource Dev (CDEV) Will Post Earnings of $0.15 Per Share

Analysts expect Centennial Resource Dev (NASDAQ:CDEV) to report earnings per share (EPS) of $0.15 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Centennial Resource Dev’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.19. Centennial Resource Dev posted earnings of $0.04 per share in the same quarter last year, which indicates a positive year over year growth rate of 275%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 9th.

According to Zacks, analysts expect that Centennial Resource Dev will report full year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.50 to $0.88. For the next year, analysts expect that the business will post earnings of $1.06 per share, with EPS estimates ranging from $0.69 to $1.85. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Centennial Resource Dev.

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Centennial Resource Dev (NASDAQ:CDEV) last released its quarterly earnings data on Monday, February 26th. The oil and natural gas company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $166.13 million during the quarter, compared to analyst estimates of $152.13 million. Centennial Resource Dev had a net margin of 17.58% and a return on equity of 2.42%.

CDEV has been the subject of several analyst reports. BidaskClub downgraded shares of Centennial Resource Dev from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Stifel Nicolaus set a $25.00 target price on shares of Centennial Resource Dev and gave the company a “buy” rating in a research note on Tuesday, January 30th. Zacks Investment Research downgraded shares of Centennial Resource Dev from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. BMO Capital Markets upgraded shares of Centennial Resource Dev from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Tuesday, March 13th. Finally, Seaport Global Securities upgraded shares of Centennial Resource Dev from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating and nineteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.12.

In other Centennial Resource Dev news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $19.50, for a total transaction of $419,355,631.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 44.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CDEV. Prudential Financial Inc. bought a new position in Centennial Resource Dev during the 3rd quarter valued at $189,000. Sei Investments Co. bought a new position in shares of Centennial Resource Dev in the 3rd quarter worth about $345,000. Rhumbline Advisers lifted its position in shares of Centennial Resource Dev by 11.9% in the 3rd quarter. Rhumbline Advisers now owns 109,454 shares of the oil and natural gas company’s stock worth $1,967,000 after buying an additional 11,603 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Centennial Resource Dev by 12.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 438,683 shares of the oil and natural gas company’s stock worth $7,883,000 after buying an additional 47,194 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Centennial Resource Dev by 30.3% in the 3rd quarter. Wells Fargo & Company MN now owns 102,657 shares of the oil and natural gas company’s stock worth $1,845,000 after buying an additional 23,849 shares during the last quarter. Hedge funds and other institutional investors own 91.18% of the company’s stock.

Shares of CDEV stock traded down $0.78 on Friday, hitting $16.75. The stock had a trading volume of 2,900,549 shares, compared to its average volume of 2,035,482. The company has a market capitalization of $4,838.79, a PE ratio of 59.82, a price-to-earnings-growth ratio of 0.56 and a beta of 1.60. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Centennial Resource Dev has a 52-week low of $14.10 and a 52-week high of $22.14.

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Centennial Resource Dev Company Profile

Centennial Resource Development, Inc, together with its subsidiary, Centennial Resource Production, LLC, operates as an independent oil and natural gas company in the United States. It focuses on the development of unconventional oil and associated liquids-rich natural gas reserves located in the Permian Basin.

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Earnings History and Estimates for Centennial Resource Dev (NASDAQ:CDEV)

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