Analysts expect Centennial Resource Dev (NASDAQ:CDEV) to post $224.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Centennial Resource Dev’s earnings, with the highest sales estimate coming in at $246.18 million and the lowest estimate coming in at $210.47 million. Centennial Resource Dev reported sales of $91.06 million in the same quarter last year, which would suggest a positive year over year growth rate of 146.9%. The company is expected to issue its next earnings results on Monday, August 6th.
On average, analysts expect that Centennial Resource Dev will report full-year sales of $935.62 million for the current year, with estimates ranging from $886.66 million to $968.79 million. For the next fiscal year, analysts anticipate that the firm will post sales of $1.28 billion per share, with estimates ranging from $1.23 billion to $1.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Centennial Resource Dev.
Centennial Resource Dev (NASDAQ:CDEV) last released its earnings results on Wednesday, May 9th. The oil and natural gas company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.18 by $0.07. Centennial Resource Dev had a return on equity of 4.20% and a net margin of 22.55%. The business had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $197.38 million.
Several research firms recently commented on CDEV. BidaskClub raised Centennial Resource Dev from a “hold” rating to a “buy” rating in a research note on Friday. UBS began coverage on Centennial Resource Dev in a report on Wednesday, March 7th. They issued a “buy” rating and a $24.00 price target on the stock. ValuEngine upgraded Centennial Resource Dev from a “sell” rating to a “hold” rating in a report on Wednesday, April 18th. BMO Capital Markets upgraded Centennial Resource Dev from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Tuesday, March 13th. Finally, Stifel Nicolaus set a $25.00 price target on Centennial Resource Dev and gave the stock a “buy” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $24.12.
In other 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 stock was sold at an average price of $19.50, for a total value of $419,355,631.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 44.70% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado lifted its holdings in shares of Centennial Resource Dev by 123.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 7,781 shares of the oil and natural gas company’s stock valued at $154,000 after purchasing an additional 4,298 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Centennial Resource Dev by 44.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,033 shares of the oil and natural gas company’s stock valued at $159,000 after purchasing an additional 2,490 shares in the last quarter. First Quadrant L P CA bought a new position in shares of Centennial Resource Dev in the fourth quarter valued at approximately $175,000. State of Alaska Department of Revenue bought a new position in shares of Centennial Resource Dev in the fourth quarter valued at approximately $192,000. Finally, M&T Bank Corp bought a new position in shares of Centennial Resource Dev in the first quarter valued at approximately $197,000. Institutional investors own 91.33% of the company’s stock.
Centennial Resource Dev opened at $19.54 on Monday, according to Marketbeat. Centennial Resource Dev has a one year low of $14.10 and a one year high of $22.14. The company has a market cap of $5.64 billion, a P/E ratio of 69.79, a price-to-earnings-growth ratio of 0.58 and a beta of 1.61. The company has a quick ratio of 1.01, a current ratio of 0.92 and a debt-to-equity ratio of 0.13.
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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