Centennial Resource Development (NASDAQ:CDEV) issued its quarterly earnings data on Monday. The oil and natural gas company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01), Briefing.com reports. Centennial Resource Development had a net margin of 1.67% and a return on equity of 1.78%. The firm had revenue of $256.40 million for the quarter, compared to analyst estimates of $243.01 million. During the same quarter in the prior year, the firm posted $0.12 EPS. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year.
CDEV opened at $2.30 on Thursday. The stock has a market capitalization of $633.74 million, a P/E ratio of 38.33, a P/E/G ratio of 0.59 and a beta of 2.11. Centennial Resource Development has a 12 month low of $2.16 and a 12 month high of $10.95. The firm’s fifty day simple moving average is $3.44 and its 200 day simple moving average is $3.90. The company has a current ratio of 0.47, a quick ratio of 0.56 and a debt-to-equity ratio of 0.32.
Several equities research analysts have weighed in on the stock. Barclays lowered shares of Centennial Resource Development from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $6.00 to $3.00 in a report on Friday, December 6th. ValuEngine raised shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. TD Securities lowered their price objective on shares of Centennial Resource Development from $5.50 to $3.50 and set a “hold” rating for the company in a research report on Tuesday. SunTrust Banks downgraded Centennial Resource Development from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, January 21st. Finally, MKM Partners dropped their price objective on Centennial Resource Development from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. Centennial Resource Development currently has an average rating of “Hold” and an average target price of $6.54.
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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