Centennial Resource Development (CDEV) Hits New 12-Month Low at $14.96

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Shares of Centennial Resource Development Inc (NASDAQ:CDEV) reached a new 52-week low on Thursday . The company traded as low as $14.96 and last traded at $14.87, with a volume of 331183 shares traded. The stock had previously closed at $15.97.

A number of analysts have recently weighed in on CDEV shares. KLR Group reaffirmed a “buy” rating and issued a $29.00 target price on shares of Centennial Resource Development in a research report on Monday, August 20th. Jefferies Financial Group started coverage on shares of Centennial Resource Development in a research report on Thursday, August 23rd. They issued a “buy” rating and a $23.00 target price on the stock. Barclays started coverage on shares of Centennial Resource Development in a research report on Wednesday, August 29th. They issued an “overweight” rating and a $24.00 target price on the stock. TheStreet raised shares of Centennial Resource Development from a “c” rating to a “b-” rating in a research report on Friday, August 31st. Finally, SunTrust Banks raised shares of Centennial Resource Development from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, September 7th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $24.30.

The company has a market capitalization of $4.16 billion, a PE ratio of 54.36 and a beta of 1.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.79 and a current ratio of 0.79.

Centennial Resource Development (NASDAQ:CDEV) last announced its quarterly earnings results on Wednesday, November 7th. The oil and natural gas company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.04). The firm had revenue of $234.88 million during the quarter, compared to the consensus estimate of $239.43 million. Centennial Resource Development had a return on equity of 6.57% and a net margin of 23.90%. The company’s revenue for the quarter was up 110.4% on a year-over-year basis. On average, equities analysts expect that Centennial Resource Development Inc will post 0.87 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. First Interstate Bank bought a new position in Centennial Resource Development in the 3rd quarter worth about $133,000. Confluence Investment Management LLC bought a new position in Centennial Resource Development during the 3rd quarter valued at about $208,000. CIBC Asset Management Inc bought a new position in Centennial Resource Development during the 3rd quarter valued at about $214,000. US Bancorp DE bought a new position in Centennial Resource Development during the 3rd quarter valued at about $239,000. Finally, Waratah Capital Advisors Ltd. bought a new position in Centennial Resource Development during the 3rd quarter valued at about $240,000.

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Centennial Resource Development Company Profile (NASDAQ:CDEV)

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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