Centennial Resource Dev (NASDAQ:CDEV) – Equities research analysts at Imperial Capital raised their Q1 2018 earnings per share (EPS) estimates for Centennial Resource Dev in a research note issued to investors on Tuesday, April 24th. Imperial Capital analyst I. Haas now expects that the oil and natural gas company will post earnings of $0.17 per share for the quarter, up from their previous forecast of $0.15. Imperial Capital currently has a “Outperform” rating and a $31.00 price target on the stock. Imperial Capital also issued estimates for Centennial Resource Dev’s FY2019 earnings at $1.57 EPS.
Centennial Resource Dev (NASDAQ:CDEV) last announced 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 Thomson Reuters’ consensus estimate of $0.10 by $0.01. The company had revenue of $166.13 million for the quarter, compared to analysts’ expectations of $152.13 million. Centennial Resource Dev had a net margin of 17.58% and a return on equity of 2.42%.
Shares of CDEV opened at $18.48 on Wednesday. The company has a market capitalization of $5,299.76, a PE ratio of 66.00, a price-to-earnings-growth ratio of 0.61 and a beta of 1.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. Centennial Resource Dev has a 12-month low of $14.10 and a 12-month high of $22.14.
In related news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 31.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of CDEV. Bank of New York Mellon Corp boosted its holdings in shares of Centennial Resource Dev by 12.1% during the third 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 purchasing an additional 47,194 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Centennial Resource Dev by 30.3% during the third quarter. Wells Fargo & Company MN now owns 102,657 shares of the oil and natural gas company’s stock worth $1,845,000 after purchasing an additional 23,849 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Centennial Resource Dev by 90.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 525,372 shares of the oil and natural gas company’s stock worth $9,441,000 after purchasing an additional 249,819 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Centennial Resource Dev during the third quarter worth approximately $12,343,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Centennial Resource Dev during the fourth quarter worth approximately $968,000. Institutional investors and hedge funds own 91.21% of the company’s stock.
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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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