FY2017 Earnings Forecast for Centennial Resource Development Inc Issued By Imperial Capital (NASDAQ:CDEV)

Centennial Resource Development Inc (NASDAQ:CDEV) – Stock analysts at Imperial Capital reduced their FY2017 earnings per share (EPS) estimates for Centennial Resource Development in a research report issued on Tuesday, Zacks Investment Research reports. Imperial Capital analyst I. Haas now forecasts that the oil and natural gas company will earn $0.28 per share for the year, down from their previous forecast of $0.30. Imperial Capital has a “Outperform” rating and a $22.00 price objective on the stock.

A number of other research firms have also recently issued reports on CDEV. Scotiabank reissued a “buy” rating and set a $22.00 price objective on shares of Centennial Resource Development in a research report on Tuesday, November 7th. Citigroup set a $22.00 price objective on shares of Centennial Resource Development and gave the stock a “buy” rating in a research report on Friday, October 13th. BidaskClub cut shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised shares of Centennial Resource Development from a “sell” rating to a “hold” rating and set a $19.00 price objective on the stock in a research report on Thursday, September 7th. Finally, BMO Capital Markets set a $18.00 price objective on shares of Centennial Resource Development and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $22.50.

Centennial Resource Development (NASDAQ CDEV) traded up $0.01 during mid-day trading on Wednesday, hitting $18.88. 1,063,581 shares of the stock were exchanged, compared to its average volume of 1,438,013. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06. Centennial Resource Development has a one year low of $14.10 and a one year high of $22.11.

A number of hedge funds and other institutional investors have recently made changes to their positions in CDEV. Seven Bridges Advisors LLC lifted its position in Centennial Resource Development by 16.8% in the 2nd quarter. Seven Bridges Advisors LLC now owns 8,244 shares of the oil and natural gas company’s stock valued at $130,000 after acquiring an additional 1,184 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Centennial Resource Development by 9.9% during the 2nd quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock worth $145,000 after buying an additional 830 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in shares of Centennial Resource Development during the 2nd quarter worth approximately $158,000. Cipher Capital LP bought a new position in shares of Centennial Resource Development during the 2nd quarter worth approximately $182,000. Finally, Comerica Bank bought a new position in shares of Centennial Resource Development during the 2nd quarter worth approximately $184,000. 93.48% of the stock is currently owned by institutional investors and hedge funds.

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About Centennial Resource Development

Centennial Resource Development, Inc is an independent oil and natural gas company. The Company is focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.

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Earnings History and Estimates for Centennial Resource Development (NASDAQ:CDEV)

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