Wall Street Analyst Upgrade Centennial Resource Development Inc. [CDEV]. What else is Wall St. saying


Centennial Resource Development Inc. [NASDAQ: CDEV] surged by $0.57 during the normal trading session on Tuesday and reaching a high of $6.88 during the day while it closed the day at $6.72. The company report on December 1, 2021 that Centennial Resource Development Announces Closing of Non-Core Asset Divestiture.

Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) announced it has closed the previously announced sale of non-core assets to affiliates of Henry Resources, LLC and Pickering Energy Partners, LP for a cash purchase price of $101 million, subject to customary closing adjustments. The properties sold include approximately 6,200 net leasehold acres and related assets located on the southernmost portion of the Company’s Reeves County, Texas position.

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“We are pleased to have closed this transaction and plan to utilize the proceeds to reduce borrowings on the Company’s revolver,” said Sean R. Smith, Chief Executive Officer. “This divestiture enhances our financial flexibility as we head into next year.”.

Centennial Resource Development Inc. stock has also gained 7.87% of its value over the past 7 days. However, CDEV stock has inclined by 28.74% in the 3 months of the year. Over the past six months meanwhile, it has gained 5.16% and gained 348.00% year-on date.

The market cap for CDEV stock reached $1.96 billion, with 281.16 million shares outstanding and 188.05 million shares in the current float. Compared to the average trading volume of 6.53M shares, CDEV reached a trading volume of 11253139 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $8.22 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.

Cowen have made an estimate for Centennial Resource Development Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on August 18, 2021. The new note on the price target was released on August 10, 2021, representing the official price target for Centennial Resource Development Inc. stock. Previously, the target price had yet another raise to $7.50, while Citigroup analysts kept a Neutral rating on CDEV stock. On June 30, 2021, analysts increased their price target for CDEV shares from 7.50 to 8.50.

The Average True Range (ATR) for Centennial Resource Development Inc. is set at 0.54, with the Price to Sales ratio for CDEV stock in the period of the last 12 months amounting to 2.28. The Price to Book ratio for the last quarter was 0.73, 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 5.25 with Quick ratio for the last quarter at 0.50.

CDEV stock trade performance evaluation

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 7.87. With this latest performance, CDEV shares dropped by -12.16% in over the last four-week period, additionally plugging by 5.16% over the last 6 months – not to mention a rise of 354.05% 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 50.73, with the RSI for the last a single of trading hit 54.01, and the three-weeks RSI is set at 50.30 for Centennial Resource Development Inc. [CDEV]. The present Moving Average for the last 50 days of trading for this stock 6.99, while it was recorded at 6.03 for the last single week of trading, and 5.61 for the last 200 days.

Centennial Resource Development Inc. [CDEV]: An insightful look at the core 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 per share (EPS) analysis for Centennial Resource Development Inc. [CDEV] stock

With the latest financial reports released by the company, Centennial Resource Development Inc. posted -0.32/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 -357.10%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Centennial Resource Development Inc. go to 6.00%.

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Centennial Resource Development Inc. [CDEV]: Insider Ownership positions

There are presently around $1,352 million, or 73.10% 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; STATE STREET CORP, holding 16,423,717 shares of the stock with an approximate value of $110.37 million in CDEV stocks shares; and BLACKROCK INC., currently with $85.65 million in CDEV stock with ownership of nearly -2.664% of the company’s market capitalization.

Positions in Centennial Resource Development Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 85 institutional holders increased their position in Centennial Resource Development Inc. [NASDAQ:CDEV] by around 24,633,204 shares. Additionally, 74 investors decreased positions by around 18,303,233 shares, while 36 investors held positions by with 158,290,005 shares. The mentioned changes placed institutional holdings at 201,226,442 shares, according to the latest SEC report filing. CDEV stock had 31 new institutional investments in for a total of 3,656,621 shares, while 27 institutional investors sold positions of 3,868,094 shares during the same period.