SunTrust Banks cut shares of Centennial Resource Development (NASDAQ:CDEV) from a buy rating to a hold rating in a research note issued to investors on Monday, Briefing.com Automated Import reports. SunTrust Banks also issued estimates for Centennial Resource Development’s Q2 2019 earnings at $0.10 EPS, Q3 2019 earnings at $0.06 EPS, Q4 2019 earnings at $0.11 EPS, FY2019 earnings at $0.36 EPS, Q1 2020 earnings at $0.14 EPS, Q2 2020 earnings at $0.14 EPS, Q3 2020 earnings at $0.14 EPS, Q4 2020 earnings at $0.15 EPS, FY2020 earnings at $0.57 EPS, Q1 2021 earnings at $0.14 EPS, Q2 2021 earnings at $0.14 EPS and FY2021 earnings at $0.58 EPS.
Several other research analysts have also issued reports on the stock. Johnson Rice lowered shares of Centennial Resource Development from a buy rating to an accumulate rating in a research report on Friday, March 22nd. BidaskClub upgraded shares of Zai Lab from a sell rating to a hold rating in a research report on Wednesday, June 5th. Barclays reiterated a sell rating on shares of RenaissanceRe in a research report on Tuesday, July 2nd. TheStreet upgraded shares of Tupperware Brands from a d+ rating to a c rating in a research report on Friday, March 15th. Finally, Piper Jaffray Companies set a $92.00 target price on shares of Wintrust Financial and gave the stock a buy rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $16.82.
Shares of NASDAQ:CDEV opened at $7.40 on Monday. Centennial Resource Development has a 52-week low of $6.22 and a 52-week high of $23.12. The stock has a fifty day moving average of $7.51. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 2.57 and a beta of 1.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.78 and a quick ratio of 0.78.
Centennial Resource Development (NASDAQ:CDEV) last announced its 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. Centennial Resource Development had a net margin of 14.13% and a return on equity of 5.04%. The company had revenue of $214.57 million during the quarter, compared to analyst estimates of $211.08 million. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts predict that Centennial Resource Development will post 0.44 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of CDEV. Norges Bank bought a new stake in Centennial Resource Development in the fourth quarter worth $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 worth $44,535,000 after purchasing an additional 764,828 shares during the last quarter. BlackRock Inc. lifted its stake in Centennial Resource Development by 7.2% in the fourth quarter. BlackRock Inc. now owns 8,453,179 shares of the oil and natural gas company’s stock worth $93,155,000 after purchasing an additional 568,155 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Centennial Resource Development by 18.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,560,405 shares of the oil and natural gas company’s stock worth $39,235,000 after purchasing an additional 542,778 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Centennial Resource Development by 21.8% in the first quarter. JPMorgan Chase & Co. now owns 2,670,441 shares of the oil and natural gas company’s stock worth $23,474,000 after purchasing an additional 478,565 shares during the last quarter. 99.39% 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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