Centennial Resource Development Inc (NASDAQ:CDEV) – Stock analysts at Seaport Global Securities upped their FY2017 EPS estimates for Centennial Resource Development in a report released on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will earn $0.27 per share for the year, up from their previous estimate of $0.18. Seaport Global Securities currently has a “Buy” rating and a $19.00 target price on the stock.
Several other brokerages have also issued reports on CDEV. Scotiabank restated a “buy” rating and issued a $22.00 price objective on shares of Centennial Resource Development in a report on Tuesday, November 7th. Citigroup set a $22.00 price objective on shares of Centennial Resource Development and gave the company a “buy” rating in a report on Friday, October 13th. BidaskClub lowered shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. BMO Capital Markets set a $18.00 price target on shares of Centennial Resource Development and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Finally, Wolfe Research began coverage on shares of Centennial Resource Development in a research note on Tuesday, November 14th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Centennial Resource Development currently has an average rating of “Buy” and a consensus price target of $22.47.
Shares of Centennial Resource Development (NASDAQ:CDEV) remained flat at $$20.29 on Thursday. 746,775 shares of the stock were exchanged, compared to its average volume of 1,347,823. Centennial Resource Development has a 52 week low of $14.10 and a 52 week high of $22.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.43 and a quick ratio of 0.43.
A number of large investors have recently modified their holdings of the business. Credit Suisse AG purchased a new stake in shares of Centennial Resource Development during the first quarter worth approximately $283,000. Great West Life Assurance Co. Can purchased a new stake in shares of Centennial Resource Development during the second quarter worth approximately $158,000. Schwab Charles Investment Management Inc. increased its stake in shares of Centennial Resource Development by 88.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 275,553 shares of the oil and natural gas company’s stock worth $4,360,000 after buying an additional 128,997 shares during the period. Rhumbline Advisers purchased a new stake in shares of Centennial Resource Development during the second quarter worth approximately $1,548,000. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Centennial Resource Development during the second quarter worth approximately $349,000. Institutional investors own 93.44% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Seaport Global Securities Equities Analysts Boost Earnings Estimates for Centennial Resource Development Inc (NASDAQ:CDEV)” was first posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://www.thelincolnianonline.com/2018/01/13/fy2017-eps-estimates-for-centennial-resource-development-inc-lifted-by-seaport-global-securities-cdev-updated-updated.html.
Centennial Resource Development Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Centennial Resource Development Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centennial Resource Development and related companies with MarketBeat.com's FREE daily email newsletter.