Centennial Resource Development Inc (NASDAQ:CDEV) – Jefferies Financial Group boosted their Q4 2019 earnings estimates for shares of Centennial Resource Development in a research report issued to clients and investors on Monday, August 12th. Jefferies Financial Group analyst Z. Parham now forecasts that the oil and natural gas company will post earnings per share of $0.03 for the quarter, up from their previous forecast of $0.02. Jefferies Financial Group currently has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for Centennial Resource Development’s Q1 2020 earnings at $0.05 EPS, Q3 2020 earnings at $0.06 EPS, Q4 2020 earnings at $0.07 EPS, FY2020 earnings at $0.22 EPS, Q1 2021 earnings at $0.06 EPS, Q2 2021 earnings at $0.06 EPS and FY2021 earnings at $0.24 EPS.
Centennial Resource Development (NASDAQ:CDEV) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Centennial Resource Development had a return on equity of 3.66% and a net margin of 8.74%. The company had revenue of $244.24 million for the quarter, compared to analyst estimates of $232.70 million. During the same period in the previous year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year.
CDEV stock opened at $4.28 on Thursday. Centennial Resource Development has a twelve month low of $3.92 and a twelve month high of $23.12. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.09 billion, a P/E ratio of 5.71, a PEG ratio of 7.62 and a beta of 1.90. The firm has a 50 day simple moving average of $6.11 and a 200-day simple moving average of $8.73.
In related news, CFO George S. Glyphis bought 50,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $4.69 per share, for a total transaction of $234,500.00. Following the completion of the purchase, the chief financial officer now owns 493,195 shares of the company’s stock, valued at approximately $2,313,084.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 31.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CDEV. Norges Bank bought a new stake in Centennial Resource Development in the fourth quarter valued at $12,791,000. Frontier Capital Management Co. LLC lifted its stake in Centennial Resource Development by 17.8% in the first 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 buying an additional 764,828 shares during the last quarter. Peregrine Capital Management LLC bought a new stake in Centennial Resource Development in the second quarter valued at $5,312,000. Vanguard Group Inc. lifted its stake in Centennial Resource Development by 4.2% in the second quarter. Vanguard Group Inc. now owns 17,223,220 shares of the oil and natural gas company’s stock valued at $130,724,000 after buying an additional 689,128 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in Centennial Resource Development in the second quarter valued at $5,066,000. Institutional investors own 99.64% of the company’s stock.
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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