Centennial Resource Development Inc (NASDAQ:CDEV) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 20,782,179 shares, a decline of 14.2% from the February 15th total of 24,224,446 shares. Based on an average trading volume of 5,622,836 shares, the short-interest ratio is currently 3.7 days. Approximately 11.5% of the company’s stock are sold short.
Centennial Resource Development stock opened at $8.93 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $2.52 billion, a P/E ratio of 11.91, a PEG ratio of 1.31 and a beta of 1.84. Centennial Resource Development has a fifty-two week low of $8.28 and a fifty-two week high of $23.12.
Centennial Resource Development (NASDAQ:CDEV) last released its earnings results on Monday, February 25th. The oil and natural gas company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.03). The company had revenue of $222.50 million during the quarter, compared to analysts’ expectations of $238.16 million. Centennial Resource Development had a net margin of 22.43% and a return on equity of 6.51%. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, research analysts anticipate that Centennial Resource Development will post 0.4 earnings per share for the current year.
Several equities research analysts have recently commented on the stock. Barclays decreased their target price on shares of Centennial Resource Development from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, November 16th. BidaskClub downgraded shares of Centennial Resource Development from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Cowen assumed coverage on shares of Centennial Resource Development in a research report on Thursday, November 29th. They set an “outperform” rating for the company. Stephens assumed coverage on shares of Centennial Resource Development in a research report on Thursday, December 6th. They set an “equal weight” rating and a $23.00 target price for the company. Finally, JPMorgan Chase & Co. set a $17.00 target price on shares of Centennial Resource Development and gave the stock a “buy” rating in a research report on Friday, December 7th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Centennial Resource Development currently has a consensus rating of “Hold” and a consensus target price of $19.61.
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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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