Centennial Resource Development Inc (NASDAQ:CDEV) – Stock analysts at Imperial Capital cut their Q1 2020 earnings estimates for Centennial Resource Development in a research note issued to investors on Wednesday, July 17th. Imperial Capital analyst I. Haas now forecasts that the oil and natural gas company will post earnings of $0.12 per share for the quarter, down from their prior forecast of $0.18. Imperial Capital also issued estimates for Centennial Resource Development’s Q2 2020 earnings at $0.10 EPS, Q3 2020 earnings at $0.12 EPS and Q4 2020 earnings at $0.14 EPS.
CDEV has been the subject of several other research reports. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a “neutral” rating in a research report on Friday, June 7th. Barclays reaffirmed a “sell” rating on shares of RenaissanceRe in a research report on Tuesday, July 2nd. BidaskClub raised shares of Zai Lab from a “sell” rating to a “hold” rating in a research report on Wednesday, June 5th. Finally, SunTrust Banks downgraded shares of SUNDANCE ENERGY/S to a “hold” rating in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Centennial Resource Development presently has an average rating of “Hold” and an average price target of $16.82.
Centennial Resource Development (NASDAQ:CDEV) last released its quarterly earnings results on Monday, May 6th. The oil and natural gas company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $214.57 million during the quarter, compared to analyst estimates of $211.08 million. Centennial Resource Development had a net margin of 14.13% and a return on equity of 5.04%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. boosted its position in Centennial Resource Development by 142.6% during the 4th quarter. Prudential Financial Inc. now owns 35,900 shares of the oil and natural gas company’s stock worth $396,000 after purchasing an additional 21,100 shares during the period. BlackRock Inc. boosted its position in Centennial Resource Development by 7.2% in 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 during the last quarter. Bank of New York Mellon Corp boosted its position in Centennial Resource Development by 19.2% in the 4th quarter. Bank of New York Mellon Corp now owns 825,853 shares of the oil and natural gas company’s stock valued at $9,101,000 after buying an additional 132,873 shares during the last quarter. Northern Trust Corp boosted its position in Centennial Resource Development by 1.0% in the 4th quarter. Northern Trust Corp now owns 1,130,234 shares of the oil and natural gas company’s stock valued at $12,454,000 after buying an additional 10,814 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Centennial Resource Development by 27.0% in the 4th quarter. Great West Life Assurance Co. Can now owns 18,257 shares of the oil and natural gas company’s stock valued at $194,000 after buying an additional 3,879 shares during the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.
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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