Thursday, January 28, 2021

Market Analysts see Centennial Resource Development Inc. [CDEV] gaining to $1. Time to buy?

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Centennial Resource Development Inc. [NASDAQ: CDEV] gained 16.83% or 0.34 points to close at $2.36 with a heavy trading volume of 8527261 shares. The company report on December 14, 2020 that Centennial Resource Development to Present at the MKM Partners Virtual Conference.

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Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) announced that Sean R. Smith, Chief Executive Officer, is scheduled to present at the MKM Partners Virtual Conference to be held on December 15, 2020 at 10:30 a.m. Eastern. The live webcast will be available on Centennial’s website at www.cdevinc.com under the Investor Relations tab.


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About Centennial Resource Development, Inc.

It opened the trading session at $2.09, the shares rose to $2.3898 and dropped to $2.081, the range by which the price of stock traded the whole day. The daily chart for CDEV points out that the company has recorded 206.49% gains over the past six months. However, it is still -883.33% lower than its most recent low trading price.

If we look at the average trading volume of 6.24M shares, CDEV reached to a volume of 8527261 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Centennial Resource Development Inc. [CDEV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDEV shares is $1.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDEV stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

MKM Partners have made an estimate for Centennial Resource Development Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 30, 2020. The new note on the price target was released on October 22, 2020, representing the official price target for Centennial Resource Development Inc. stock. Previously, the target price had yet another raise from $1 to $1.25, while Wells Fargo kept a Underweight rating on CDEV stock.

The Average True Range (ATR) for Centennial Resource Development Inc. is set at 0.19, with the Price to Sales ratio for CDEV stock in the period of the last 12 months amounting to 0.95. The Price to Book ratio for the last quarter was 0.24, 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 2.13 with Quick ratio for the last quarter at 0.50.

Trading performance analysis for CDEV stock

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 39.64. With this latest performance, CDEV shares gained by 31.11% in over the last four-week period, additionally plugging by 206.49% over the last 6 months – not to mention a drop of -46.36% 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 79.24, with the RSI for the last a single of trading hit 84.11, and the three-weeks RSI is set at 76.34 for Centennial Resource Development Inc. [CDEV]. The present Moving Average for the last 50 days of trading for this stock 1.32, while it was recorded at 2.01 for the last single week of trading, and 0.92 for the last 200 days.

Centennial Resource Development Inc. [CDEV]: A deeper dive into fundamental analysis

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.

Centennial Resource Development Inc. [CDEV]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Centennial Resource Development Inc. posted 0.03/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -25.00%. 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.

An analysis of insider ownership at Centennial Resource Development Inc. [CDEV]

There are presently around $302 million, or 55.00% 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; PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C., holding 9,972,289 shares of the stock with an approximate value of $20.14 million in CDEV stocks shares; and VANGUARD GROUP INC, currently with $16.32 million in CDEV stock with ownership of nearly -45.47% of the company’s market capitalization.

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Positions in Centennial Resource Development Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 23 institutional holders increased their position in Centennial Resource Development Inc. [NASDAQ:CDEV] by around 7,847,162 shares. Additionally, 73 investors decreased positions by around 48,205,480 shares, while 29 investors held positions by with 93,428,268 shares. The mentioned changes placed institutional holdings at 149,480,910 shares, according to the latest SEC report filing. CDEV stock had 6 new institutional investments in for a total of 169,500 shares, while 31 institutional investors sold positions of 16,362,143 shares during the same period.

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