Centennial Resource Development Inc. [CDEV] is 212.00% higher this YTD. Is it still time to buy?

Centennial Resource Development Inc. [NASDAQ: CDEV] price surged by 9.60 percent to reach at $0.41. The company report on May 5, 2021 that Centennial Resource Development, Inc. to Host Earnings Call.

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Centennial Resource Development, Inc. (NASDAQ:CDEV) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 5, 2021 at 10:00 AM Eastern Time.

To listen to the event live or access a replay of the call – visit https://www.investornetwork.com/event/presentation/77438.

A sum of 9716952 shares traded at recent session while its average daily volume was at 9.76M shares. Centennial Resource Development Inc. shares reached a high of $4.28 and dropped to a low of $4.08 until finishing in the latest session at $4.68.

The one-year CDEV stock forecast points to a potential downside of -4.93. The average equity rating for CDEV stock is currently 3.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $4.46 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 3.20. 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 0.38, with the Price to Sales ratio for CDEV stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 0.51, with the Price to Cash per share for the same quarter was set at 0.04. Price to Free Cash Flow for CDEV in the course of the last twelve months was 8.81 with Quick ratio for the last quarter at 0.40.

CDEV Stock Performance Analysis:

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 7.09. With this latest performance, CDEV shares gained by 13.32% in over the last four-week period, additionally plugging by 569.43% over the last 6 months – not to mention a rise of 455.09% 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 56.48, with the RSI for the last a single of trading hit 59.23, and the three-weeks RSI is set at 55.29 for Centennial Resource Development Inc. [CDEV]. The present Moving Average for the last 50 days of trading for this stock 4.41, while it was recorded at 4.36 for the last single week of trading, and 2.24 for the last 200 days.

Insight into Centennial Resource Development Inc. 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 0.40 and a Current Ratio set at 0.40.

CDEV Stock EPS

With the latest financial reports released by the company, Centennial Resource Development Inc. posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.28/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 107.10%. 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 Position Details

There are presently around $814 million, or 58.00% 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 3.90% of the total institutional ownership; VANGUARD GROUP INC, holding 10,147,019 shares of the stock with an approximate value of $47.49 million in CDEV stocks shares; and STATE STREET CORP, currently with $29.96 million in CDEV stock with ownership of nearly 3043.2% 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 May and at the time of the May reporting period, where 93 institutional holders increased their position in Centennial Resource Development Inc. [NASDAQ:CDEV] by around 36,000,897 shares. Additionally, 39 investors decreased positions by around 23,276,171 shares, while 18 investors held positions by with 114,751,871 shares. The mentioned changes placed institutional holdings at 174,028,939 shares, according to the latest SEC report filing. CDEV stock had 53 new institutional investments in for a total of 15,430,878 shares, while 9 institutional investors sold positions of 4,224,706 shares during the same period.

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