Centennial Resource Development (CDEV) Scheduled to Post Quarterly Earnings on Monday

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Centennial Resource Development (NASDAQ:CDEV) is scheduled to announce its earnings results after the market closes on Monday, May 6th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Centennial Resource Development (NASDAQ:CDEV) last released its quarterly earnings results on Monday, February 25th. The oil and natural gas company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Centennial Resource Development had a net margin of 22.43% and a return on equity of 6.51%. The firm had revenue of $222.50 million for the quarter, compared to the consensus estimate of $238.16 million. Centennial Resource Development’s quarterly revenue was up 34.0% compared to the same quarter last year. On average, analysts expect Centennial Resource Development to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CDEV opened at $10.24 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.53. Centennial Resource Development has a fifty-two week low of $8.28 and a fifty-two week high of $23.12. The stock has a market cap of $2.83 billion, a P/E ratio of 13.65, a PEG ratio of 1.66 and a beta of 1.94.

A number of research analysts recently weighed in on CDEV shares. Johnson Rice lowered shares of Centennial Resource Development from a “buy” rating to an “accumulate” rating in a research report on Friday, March 22nd. TD Securities dropped their price target on shares of Centennial Resource Development from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, February 27th. Jefferies Financial Group dropped their price target on shares of Centennial Resource Development to $18.00 and set a “buy” rating on the stock in a research report on Friday, January 4th. Guggenheim set a $20.00 price target on shares of Centennial Resource Development and gave the company a “buy” rating in a research report on Tuesday, February 26th. Finally, Seaport Global Securities set a $15.00 price target on shares of Centennial Resource Development and gave the company a “buy” rating in a research report on Tuesday, February 26th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $18.69.

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Centennial Resource Development Company Profile

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.

See Also: Quiet Period Expirations

Earnings History for Centennial Resource Development (NASDAQ:CDEV)

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