Centennial Resource Development Inc (NASDAQ:CDEV) – Equities research analysts at US Capital Advisors decreased their Q4 2019 earnings per share estimates for Centennial Resource Development in a note issued to investors on Tuesday, December 3rd. US Capital Advisors analyst C. Horwitz now expects that the oil and natural gas company will post earnings per share of $0.02 for the quarter, down from their previous estimate of $0.06.
CDEV has been the topic of a number of other research reports. Bank of America set a $7.00 target price on Centennial Resource Development and gave the company a “hold” rating in a research report on Tuesday, September 10th. Guggenheim set a $7.00 price target on Centennial Resource Development and gave the stock a “buy” rating in a research report on Wednesday, August 21st. BidaskClub raised shares of Centennial Resource Development from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 23rd. ValuEngine upgraded shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Investment Research raised shares of Centennial Resource Development from a “sell” rating to a “hold” rating and set a $5.50 price objective on the stock in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $10.09.
Centennial Resource Development (NASDAQ:CDEV) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $229.13 million during the quarter, compared to the consensus estimate of $227.52 million. Centennial Resource Development had a net margin of 4.08% and a return on equity of 2.32%.
In other news, CEO Mark G. Papa bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $3.44 per share, with a total value of $344,000.00. Following the completion of the purchase, the chief executive officer now owns 2,063,817 shares of the company’s stock, valued at $7,099,530.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Shapiro bought 25,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $3.45 per share, for a total transaction of $86,250.00. Following the completion of the acquisition, the director now owns 34,567 shares of the company’s stock, valued at approximately $119,256.15. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 190,500 shares of company stock worth $642,680. Company insiders own 31.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Earnest Partners LLC increased its stake in shares of Centennial Resource Development by 5.6% during the 2nd quarter. Earnest Partners LLC now owns 239,515 shares of the oil and natural gas company’s stock worth $1,818,000 after purchasing an additional 12,655 shares during the last quarter. Swiss National Bank increased its position in Centennial Resource Development by 19.2% during the second quarter. Swiss National Bank now owns 344,300 shares of the oil and natural gas company’s stock worth $2,613,000 after buying an additional 55,400 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Centennial Resource Development during the third quarter worth approximately $1,361,000. Pinnacle Associates Ltd. raised its stake in Centennial Resource Development by 46.2% in the second quarter. Pinnacle Associates Ltd. now owns 17,100 shares of the oil and natural gas company’s stock valued at $130,000 after buying an additional 5,400 shares during the period. Finally, Schroder Investment Management Group raised its stake in Centennial Resource Development by 35.1% in the second quarter. Schroder Investment Management Group now owns 2,398,510 shares of the oil and natural gas company’s stock valued at $18,204,000 after buying an additional 622,956 shares during the period.
About Centennial Resource Development
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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