Brokerages Anticipate Centennial Resource Dev (CDEV) Will Post Earnings of $0.19 Per Share

Brokerages expect Centennial Resource Dev (NASDAQ:CDEV) to announce earnings of $0.19 per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Centennial Resource Dev’s earnings, with estimates ranging from $0.16 to $0.25. Centennial Resource Dev reported earnings per share of $0.07 in the same quarter last year, which would indicate a positive year over year growth rate of 171.4%. The business is expected to report its next quarterly earnings results on Monday, August 6th.

On average, analysts expect that Centennial Resource Dev will report full year earnings of $0.77 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.98. For the next fiscal year, analysts expect that the business will post earnings of $1.10 per share, with EPS estimates ranging from $0.67 to $2.05. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Centennial Resource Dev.

Centennial Resource Dev (NASDAQ:CDEV) last issued its quarterly earnings data on Wednesday, May 9th. The oil and natural gas company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.07. The company had revenue of $215.90 million for the quarter, compared to the consensus estimate of $197.38 million. Centennial Resource Dev had a net margin of 22.55% and a return on equity of 4.20%.

A number of brokerages recently weighed in on CDEV. BidaskClub upgraded shares of Centennial Resource Dev from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. UBS began coverage on shares of Centennial Resource Dev in a research report on Wednesday, March 7th. They set a “buy” rating and a $24.00 price objective on the stock. ValuEngine upgraded shares of Centennial Resource Dev from a “sell” rating to a “hold” rating in a research report on Wednesday, April 18th. BMO Capital Markets upgraded shares of Centennial Resource Dev from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Tuesday, March 13th. Finally, Stifel Nicolaus set a $25.00 price objective on shares of Centennial Resource Dev and gave the company a “buy” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a hold rating and twenty have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $24.12.

Centennial Resource Dev stock traded down $0.05 during midday trading on Friday, reaching $19.69. 2,010,954 shares of the company traded hands, compared to its average volume of 2,665,574. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 70.32, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61. Centennial Resource Dev has a 12 month low of $14.10 and a 12 month high of $22.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.13.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its stake 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 worth $154,000 after purchasing an additional 4,298 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 worth $159,000 after purchasing an additional 2,490 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Centennial Resource Dev in the fourth quarter worth $175,000. State of Alaska Department of Revenue purchased a new stake in shares of Centennial Resource Dev in the fourth quarter worth $192,000. Finally, M&T Bank Corp purchased a new stake in shares of Centennial Resource Dev in the first quarter worth $197,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

About Centennial Resource Dev

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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