Wells Fargo slashes price target on Centennial Resource Development Inc. [CDEV] – find out why.

Centennial Resource Development Inc. [NASDAQ: CDEV] plunged by -$0.03 during the normal trading session on Monday and reaching a high of $0.68 during the day while it closed the day at $0.65. The company report on September 2, 2020 that Centennial Resource Development to Present at the Barclays CEO Energy-Power Conference.

Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced that Sean R. Smith, Chief Executive Officer, is scheduled to present at the Barclays CEO Energy-Power Conference to be held virtually on Wednesday, September 9, 2020 at 4:25 p.m. Eastern. The live webcast and presentation materials used at the conference will be available on Centennial’s website at www.cdevinc.com under the Investor Relations tab.

About Centennial Resource Development, Inc.

Centennial Resource Development Inc. stock has also gained 2.08% of its value over the past 7 days. However, CDEV stock has declined by -15.04% in the 3 months of the year. Over the past six months meanwhile, it has gained 98.24% and lost -85.84% year-on date.

The market cap for CDEV stock reached $189.26 million, with 277.13 million shares outstanding and 175.55 million shares in the current float. Compared to the average trading volume of 8.06M shares, CDEV reached a trading volume of 3789691 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Centennial Resource Development Inc. [CDEV]:

Wells Fargo have made an estimate for Centennial Resource Development Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on September 14, 2020. The new note on the price target was released on April 29, 2020, representing the official price target for Centennial Resource Development Inc. stock.

The Average True Range (ATR) for Centennial Resource Development Inc. is set at 0.07, with the Price to Sales ratio for CDEV stock in the period of the last 12 months amounting to 0.25. The Price to Book ratio for the last quarter was 0.07, with the Price to Cash per share for the same quarter was set at 0.02. Price to Free Cash Flow for CDEV in the course of the last twelve months was 0.52 with Quick ratio for the last quarter at 0.50.

CDEV stock trade performance evaluation

Centennial Resource Development Inc. [CDEV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.08. With this latest performance, CDEV shares gained by 24.11% in over the last four-week period, additionally plugging by 98.24% over the last 6 months – not to mention a drop of -82.32% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDEV stock in for the last two-week period is set at 48.84, with the RSI for the last a single of trading hit 52.10, and the three-weeks RSI is set at 48.05 for Centennial Resource Development Inc. [CDEV]. The present Moving Average for the last 50 days of trading for this stock 0.7111, while it was recorded at 0.6585 for the last single week of trading, and 1.4027 for the last 200 days.

Centennial Resource Development Inc. [CDEV]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Centennial Resource Development Inc. [CDEV] shares currently have an operating margin of +13.50 and a Gross Margin at +21.89. Centennial Resource Development Inc.’s Net Margin is presently recorded at +1.71.

Return on Total Capital for CDEV is now 3.08, given the latest momentum, and Return on Invested Capital for the company is 0.40. Return on Equity for this stock inclined to 0.51, with Return on Assets sitting at 0.35. When it comes to the capital structure of this company, Centennial Resource Development Inc. [CDEV] has a Total Debt to Total Equity ratio set at 32.84. Additionally, CDEV Total Debt to Total Capital is recorded at 24.72, with Total Debt to Total Assets ending up at 21.82. Long-Term Debt to Equity for the company is recorded at 32.56, with the Long-Term Debt to Total Capital now at 24.51.

Reflecting on the efficiency of the workforce at the company, Centennial Resource Development Inc. [CDEV] managed to generate an average of $82,697 per employee. Receivables Turnover for the company is 9.33 with a Total Asset Turnover recorded at a value of 0.21.Centennial Resource Development Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

Earnings per share (EPS) analysis for Centennial Resource Development Inc. [CDEV] stock

With the latest financial reports released by the company, Centennial Resource Development Inc. posted -0.01/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -133.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDEV.

Centennial Resource Development Inc. [CDEV]: Insider Ownership positions

There are presently around $125 million, or 70.20% of CDEV stock, in the hands of institutional investors. The top three institutional holders of CDEV stocks are: RIVERSTONE HOLDINGS LLC with ownership of 83,459,210, which is approximately 18.776% of the company’s market cap and around 3.60% of the total institutional ownership; VANGUARD GROUP INC, holding 14,819,914 shares of the stock with an approximate value of $9.69 million in CDEV stocks shares; and PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C., currently with $5.05 million in CDEV stock with ownership of nearly -67.291% of the company’s market capitalization.

Positions in Centennial Resource Development Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 48 institutional holders increased their position in Centennial Resource Development Inc. [NASDAQ:CDEV] by around 39,890,383 shares. Additionally, 104 investors decreased positions by around 107,762,279 shares, while 22 investors held positions by with 43,693,574 shares. The mentioned changes placed institutional holdings at 191,346,236 shares, according to the latest SEC report filing. CDEV stock had 24 new institutional investments in for a total of 6,937,785 shares, while 54 institutional investors sold positions of 13,940,093 shares during the same period.

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