Equities research analysts expect Centennial Resource Development Inc (NASDAQ:CDEV) to report $244.39 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Centennial Resource Development’s earnings. The highest sales estimate is $260.00 million and the lowest is $225.90 million. Centennial Resource Development posted sales of $217.76 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.2%. The company is expected to report its next quarterly earnings results on Monday, August 5th.
On average, analysts expect that Centennial Resource Development will report full-year sales of $965.60 million for the current year, with estimates ranging from $925.83 million to $1.03 billion. For the next financial year, analysts anticipate that the company will post sales of $1.11 billion, with estimates ranging from $1.05 billion to $1.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Centennial Resource Development.
Centennial Resource Development (NASDAQ:CDEV) last posted its quarterly earnings data on Monday, May 6th. The oil and natural gas company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04. Centennial Resource Development had a return on equity of 5.04% and a net margin of 14.13%. The firm had revenue of $214.57 million for the quarter, compared to analysts’ expectations of $211.08 million. During the same quarter last year, the business earned $0.25 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year.
Shares of Centennial Resource Development stock opened at $9.76 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.27. Centennial Resource Development has a 12-month low of $8.28 and a 12-month high of $23.12. The firm has a market cap of $2.64 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.34 and a beta of 1.94.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Centennial Resource Development by 56.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,574,473 shares of the oil and natural gas company’s stock valued at $49,003,000 after purchasing an additional 2,014,068 shares during the last quarter. Norges Bank bought a new position in shares of Centennial Resource Development during the 4th quarter valued at about $12,791,000. Frontier Capital Management Co. LLC increased its position in shares of Centennial Resource Development by 17.8% during the 1st quarter. Frontier Capital Management Co. LLC now owns 5,066,515 shares of the oil and natural gas company’s stock valued at $44,535,000 after purchasing an additional 764,828 shares during the last quarter. Ninepoint Partners LP bought a new position in shares of Centennial Resource Development during the 4th quarter valued at about $7,714,000. Finally, BlackRock Inc. increased its position 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 purchasing an additional 568,155 shares during 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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