Centennial Resource Development Inc. [CDEV] Stock trading around $0.58 per share: What’s Next?

Centennial Resource Development Inc. [NASDAQ: CDEV] jumped around 0.03 points on Thursday, while shares priced at $0.58 at the close of the session, up 5.35%. The company report on October 14, 2020 that Centennial Resource Development, Inc. Announces Third Quarter 2020 Earnings Conference Call.

Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) announced today that it will report third quarter 2020 financial and operating results after the market closes for trading on November 2, 2020. Management will host an earnings conference call on November 3, 2020 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (800) 789-3525, or (442) 268-1041 for international calls, (Conference ID: 3692456) at least 15 minutes prior to the start of the call or via the internet at www.cdevinc.com. A replay of the call will be available on Centennial’s website or by phone at (855) 859-2056 (Conference ID: 3692456) for a 14-day period following the call.

About Centennial Resource Development, Inc.

Centennial Resource Development Inc. stock is now -87.39% down from its year-to-date (YTD) trading value. CDEV Stock saw the intraday high of $0.585 and lowest of $0.5312 per share. The company’s 52-week high price is 5.35, which means current price is +147.70% above from all time high which was touched on 01/03/20.

Compared to the average trading volume of 6.68M shares, CDEV reached a trading volume of 2325113 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Centennial Resource Development Inc. [CDEV]?

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Piper Sandler have made an estimate for Centennial Resource Development Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 22, 2020. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $1 to $1.25. The new note on the price target was released on September 14, 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 0.06, with the Price to Sales ratio for CDEV stock in the period of the last 12 months amounting to 0.22. The Price to Book ratio for the last quarter was 0.06, with the Price to Cash per share for the same quarter was set at 0.03. Price to Free Cash Flow for CDEV in the course of the last twelve months was 0.46 with Quick ratio for the last quarter at 0.50.

How has CDEV stock performed recently?

Centennial Resource Development Inc. [CDEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.71. With this latest performance, CDEV shares dropped by -3.29% in over the last four-week period, additionally sinking by -35.64% over the last 6 months – not to mention a drop of -83.16% 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 43.00, with the RSI for the last a single of trading hit 40.89, and the three-weeks RSI is set at 44.08 for Centennial Resource Development Inc. [CDEV]. The present Moving Average for the last 50 days of trading for this stock 0.6496, while it was recorded at 0.6007 for the last single week of trading, and 1.1450 for the last 200 days.

Centennial Resource Development Inc. [CDEV]: Deeper insight into the fundamentals

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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 analysis for Centennial Resource Development Inc. [CDEV]

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.

Insider trade positions for Centennial Resource Development Inc. [CDEV]

There are presently around $112 million, or 69.90% 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 0% 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 $8.64 million in CDEV stocks shares; and PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C., currently with $4.5 million in CDEV stock with ownership of nearly -67.291% of the company’s market capitalization.

46 institutional holders increased their position in Centennial Resource Development Inc. [NASDAQ:CDEV] by around 26,587,085 shares. Additionally, 101 investors decreased positions by around 106,660,740 shares, while 23 investors held positions by with 58,039,436 shares. The mentioned changes placed institutional holdings at 191,287,261 shares, according to the latest SEC report filing. CDEV stock had 22 new institutional investments in for a total of 6,826,703 shares, while 50 institutional investors sold positions of 12,777,808 shares during the same period.

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