Centennial Resource Development (NASDAQ:CDEV) was downgraded by research analysts at BMO Capital Markets to a “market perform” rating in a research note issued on Tuesday, The Fly reports.
Several other analysts have also recently weighed in on CDEV. Zacks Investment Research cut Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Friday, November 9th. BidaskClub cut Centennial Resource Development from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 12th. JPMorgan Chase & Co. set a $17.00 price target on Centennial Resource Development and gave the company a “buy” rating in a report on Friday, December 7th. Ifs Securities reaffirmed a “strong-buy” rating on shares of Centennial Resource Development in a report on Sunday, February 3rd. Finally, ValuEngine cut Centennial Resource Development from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.17.
Get Centennial Resource Development alerts:Shares of CDEV opened at $12.71 on Tuesday. The stock has a market cap of $3.47 billion, a P/E ratio of 45.39, a P/E/G ratio of 0.59 and a beta of 2.07. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.79 and a current ratio of 0.79. Centennial Resource Development has a 52-week low of $9.87 and a 52-week high of $23.12.
Centennial Resource Development (NASDAQ:CDEV) last issued its quarterly earnings data on Monday, February 25th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The company had revenue of $222.50 million for the quarter, compared to analysts’ expectations of $238.16 million. Centennial Resource Development had a return on equity of 6.57% and a net margin of 23.90%. Centennial Resource Development’s revenue for the quarter was up 34.0% on a year-over-year basis. As a group, research analysts expect that Centennial Resource Development will post 0.78 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Centennial Resource Development by 27.0% during the 3rd quarter. FMR LLC now owns 39,567,873 shares of the oil and natural gas company’s stock valued at $864,558,000 after buying an additional 8,410,700 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Centennial Resource Development by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 15,754,084 shares of the oil and natural gas company’s stock valued at $344,226,000 after buying an additional 370,395 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Centennial Resource Development by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,754,084 shares of the oil and natural gas company’s stock valued at $344,226,000 after buying an additional 370,395 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Centennial Resource Development by 7.2% during the 4th quarter. BlackRock Inc. now owns 8,453,179 shares of the oil and natural gas company’s stock valued at $93,155,000 after buying an additional 568,155 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of Centennial Resource Development by 9.4% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 4,924,039 shares of the oil and natural gas company’s stock valued at $107,590,000 after buying an additional 424,015 shares in the last quarter.
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.
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