Somewhat Positive News Coverage Somewhat Unlikely to Affect Centennial Resource Dev (NASDAQ:CDEV) Stock Price

Press coverage about Centennial Resource Dev (NASDAQ:CDEV) has trended somewhat positive recently, according to Accern Sentiment. The research group ranks the sentiment of press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Centennial Resource Dev earned a coverage optimism score of 0.06 on Accern’s scale. Accern also assigned news coverage about the oil and natural gas company an impact score of 46.2223004855319 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Several equities analysts have recently commented on the company. Stifel Nicolaus set a $28.00 price objective on Centennial Resource Dev and gave the company a “buy” rating in a research report on Wednesday, March 28th. BidaskClub upgraded Centennial Resource Dev from a “sell” rating to a “hold” rating in a research report on Friday, March 23rd. Johnson Rice started coverage on Centennial Resource Dev in a research report on Wednesday, March 21st. They set a “buy” rating and a $25.00 price target on the stock. BMO Capital Markets upgraded Centennial Resource Dev from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Tuesday, March 13th. Finally, UBS started coverage on Centennial Resource Dev in a research report on Wednesday, March 7th. They set a “buy” rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $24.12.

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NASDAQ CDEV traded up $0.44 on Thursday, hitting $17.53. The company’s stock had a trading volume of 2,340,999 shares, compared to its average volume of 1,958,697. Centennial Resource Dev has a 52-week low of $14.10 and a 52-week high of $22.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $4,833.27, a P/E ratio of 62.61, a price-to-earnings-growth ratio of 0.56 and a beta of 1.60.

Centennial Resource Dev (NASDAQ:CDEV) last released its quarterly earnings data on Monday, February 26th. The oil and natural gas company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Centennial Resource Dev had a return on equity of 2.42% and a net margin of 17.58%. The business had revenue of $166.13 million during the quarter, compared to analysts’ expectations of $152.13 million. sell-side analysts predict that Centennial Resource Dev will post 0.7 earnings per share for the current year.

In other Centennial Resource Dev news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $19.50, for a total value of $419,355,631.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 44.70% of the company’s stock.

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About Centennial Resource Dev

Centennial Resource Development, Inc, together with its subsidiary, Centennial Resource Production, LLC, operates as an independent oil and natural gas company in the United States. It focuses on the development of unconventional oil and associated liquids-rich natural gas reserves located in the Permian Basin.

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