Centennial Resource Development Inc. [CDEV] Stock trading around $5.25 per share: What’s Next?

Centennial Resource Development Inc. [NASDAQ: CDEV] loss -7.57% or -0.43 points to close at $5.25 with a heavy trading volume of 6296013 shares. The company report on July 23, 2021 that Centennial Resource Development, Inc. Appoints Vidisha Prasad to its Board of Directors Following the Retirement of Karl Bandtel.

Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) announced that Vidisha Prasad has been appointed to its Board of Directors, effective immediately. Ms. Prasad will serve as a member of the Audit Committee and Nominating, Environmental, Social and Governance Committee. Additionally, Karl Bandtel announced his retirement from the Board, also effective.

“We are very excited to welcome Vidisha to our Board of Directors,” said Steven Shapiro, Chairman of the Board. “Vidisha’s extensive oil and gas experience coupled with her strategic advisory and capital markets expertise will be a valuable asset to Centennial and our shareholders.”.

It opened the trading session at $5.59, the shares rose to $5.62 and dropped to $5.11, the range by which the price of stock traded the whole day. The daily chart for CDEV points out that the company has recorded 131.28% gains over the past six months. However, it is still -929.41% lower than its most recent low trading price.

If we look at the average trading volume of 8.21M shares, CDEV reached to a volume of 6296013 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 $5.67 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 3.30. 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.

Citigroup have made an estimate for Centennial Resource Development Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 16, 2021. While these analysts kept the previous recommendation, UBS raised their target price from $7.50 to $8.50. The new note on the price target was released on June 30, 2021, representing the official price target for Centennial Resource Development Inc. stock.

The Average True Range (ATR) for Centennial Resource Development Inc. is set at 0.45, with the Price to Sales ratio for CDEV stock in the period of the last 12 months amounting to 2.55. The Price to Book ratio for the last quarter was 0.57, 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 10.43 with Quick ratio for the last quarter at 0.40.

Trading performance analysis for CDEV stock

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 -3.14. With this latest performance, CDEV shares dropped by -28.38% in over the last four-week period, additionally plugging by 131.28% over the last 6 months – not to mention a rise of 513.39% 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 37.92, with the RSI for the last a single of trading hit 33.56, and the three-weeks RSI is set at 41.99 for Centennial Resource Development Inc. [CDEV]. The present Moving Average for the last 50 days of trading for this stock 6.06, while it was recorded at 5.54 for the last single week of trading, and 3.56 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 -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.

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

There are presently around $908 million, or 64.00% 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 3.40% of the total institutional ownership; VANGUARD GROUP INC, holding 10,147,019 shares of the stock with an approximate value of $53.27 million in CDEV stocks shares; and STATE STREET CORP, currently with $33.61 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 August and at the time of the August reporting period, where 89 institutional holders increased their position in Centennial Resource Development Inc. [NASDAQ:CDEV] by around 35,826,017 shares. Additionally, 40 investors decreased positions by around 22,742,350 shares, while 21 investors held positions by with 114,431,679 shares. The mentioned changes placed institutional holdings at 173,000,046 shares, according to the latest SEC report filing. CDEV stock had 49 new institutional investments in for a total of 15,321,484 shares, while 9 institutional investors sold positions of 4,967,789 shares during the same period.

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