Centennial Resource Development Inc. [NASDAQ: CDEV] traded at a low on 04/20/21, posting a -6.41 loss after which it closed the day’ session at $3.94. The company report on April 19, 2021 that Centennial Resource Development, Inc. Announces First Quarter 2021 Earnings Conference Call.
Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) announced that it will report first quarter 2021 financial and operating results after the market closes for trading on May 4, 2021. Management will host an earnings conference call on May 5, 2021 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (844) 348-0017, or (213) 358-0877 for international calls, (Conference ID: 7578513) 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: 7578513) for a seven-day period following the call.
About Centennial Resource Development, Inc.
The results of the trading session contributed to over 10317672 shares changing hands. Over the past one week, the price volatility of Centennial Resource Development Inc. stands at 11.22% while the volatility over the past one month is 8.31%.
The market cap for CDEV stock reached $1.19 billion, with 278.36 million shares outstanding and 181.96 million shares in the current float. Compared to the average trading volume of 10.07M shares, CDEV reached a trading volume of 10317672 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]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDEV shares is $4.52 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.
Johnson Rice have made an estimate for Centennial Resource Development Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 09, 2021. The new note on the price target was released on February 03, 2021, representing the official price target for Centennial Resource Development Inc. stock. Previously, the target price had yet another raise to $1.80, while Stifel analysts kept a Hold rating on CDEV stock.
The Average True Range (ATR) for Centennial Resource Development Inc. is set at 0.40, with the Price to Sales ratio for CDEV stock in the period of the last 12 months amounting to 2.05. The Price to Book ratio for the last quarter was 0.42, 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 6.97 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 -2.48. With this latest performance, CDEV shares dropped by -12.83% in over the last four-week period, additionally plugging by 471.01% over the last 6 months – not to mention a rise of 1268.06% 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 44.51, with the RSI for the last a single of trading hit 40.70, and the three-weeks RSI is set at 47.53 for Centennial Resource Development Inc. [CDEV]. The present Moving Average for the last 50 days of trading for this stock 4.25, while it was recorded at 4.28 for the last single week of trading, and 1.92 for the last 200 days.
Centennial Resource Development Inc. [CDEV]: Deeper insight into the 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 -15.39 and a Gross Margin at -2.84. Centennial Resource Development Inc.’s Net Margin is presently recorded at -117.64.
Return on Total Capital for CDEV is now -2.23, given the latest momentum, and Return on Invested Capital for the company is -17.09. Return on Equity for this stock declined to -23.30, with Return on Assets sitting at -15.24. 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 41.18. Additionally, CDEV Total Debt to Total Capital is recorded at 29.17, with Total Debt to Total Assets ending up at 26.41. Long-Term Debt to Equity for the company is recorded at 41.05, with the Long-Term Debt to Total Capital now at 29.08.
Reflecting on the efficiency of the workforce at the company, Centennial Resource Development Inc. [CDEV] managed to generate an average of -$4,522,099 per employee. Receivables Turnover for the company is 7.42 with a Total Asset Turnover recorded at a value of 0.13.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 -1.99/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2,742.90%. 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 $630 million, or 57.90% 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 3.90% of the total institutional ownership; PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C., holding 10,274,689 shares of the stock with an approximate value of $40.48 million in CDEV stocks shares; and VANGUARD GROUP INC, currently with $38.83 million in CDEV stock with ownership of nearly 21.957% of the company’s market capitalization.
Positions in Centennial Resource Development Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 50 institutional holders increased their position in Centennial Resource Development Inc. [NASDAQ:CDEV] by around 15,902,478 shares. Additionally, 39 investors decreased positions by around 5,500,699 shares, while 27 investors held positions by with 138,490,960 shares. The mentioned changes placed institutional holdings at 159,894,137 shares, according to the latest SEC report filing. CDEV stock had 22 new institutional investments in for a total of 3,482,805 shares, while 16 institutional investors sold positions of 748,326 shares during the same period.