Centennial Resource Development Inc Forecasted to Post FY2017 Earnings of $0.28 Per Share (CDEV)

Centennial Resource Development Inc (NASDAQ:CDEV) – US Capital Advisors cut their FY2017 earnings estimates for shares of Centennial Resource Development in a report released on Monday. US Capital Advisors analyst C. Horwitz now expects that the oil and natural gas company will earn $0.28 per share for the year, down from their prior estimate of $0.29.

A number of other equities research analysts have also recently commented on the stock. Wolfe Research assumed coverage on shares of Centennial Resource Development in a research note on Tuesday, November 14th. They set an “outperform” rating on the stock. Seaport Global Securities upgraded shares of Centennial Resource Development from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, December 19th. BidaskClub upgraded shares of Centennial Resource Development from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Credit Suisse Group assumed coverage on shares of Centennial Resource Development in a research report on Monday, December 11th. They set an “outperform” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Centennial Resource Development currently has an average rating of “Buy” and a consensus price target of $23.47.

Shares of Centennial Resource Development (NASDAQ CDEV) opened at $18.33 on Wednesday. Centennial Resource Development has a one year low of $14.10 and a one year high of $22.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.43 and a quick ratio of 0.43.

Centennial Resource Development (NASDAQ:CDEV) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Centennial Resource Development had a negative net margin of 49.20% and a negative return on equity of 5.52%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Centennial Resource Development by 9.9% in the second quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock worth $145,000 after purchasing an additional 830 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Centennial Resource Development 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 during the last quarter. TIAA FSB increased its position in Centennial Resource Development by 3.4% in the fourth quarter. TIAA FSB now owns 81,403 shares of the oil and natural gas company’s stock worth $1,611,000 after purchasing an additional 2,647 shares during the last quarter. Comerica Bank increased its position in Centennial Resource Development by 23.7% in the fourth quarter. Comerica Bank now owns 16,710 shares of the oil and natural gas company’s stock worth $357,000 after purchasing an additional 3,199 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in Centennial Resource Development 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 during the last quarter. Institutional investors own 93.52% of the company’s stock.

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Centennial Resource Development Company Profile

Centennial Resource Development, Inc is an independent oil and natural gas company. The Company is focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.

Earnings History and Estimates for Centennial Resource Development (NASDAQ:CDEV)

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