Centennial Resource Development Inc. [CDEV] Is Currently -2.01 below its 200 Period Moving Avg: What Does This Mean?

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Centennial Resource Development Inc. [NASDAQ: CDEV] loss -2.01% or -0.14 points to close at $6.82 with a heavy trading volume of 7269703 shares. 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) today 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.”.

It opened the trading session at $6.95, the shares rose to $6.9605 and dropped to $6.615, the range by which the price of stock traded the whole day. The daily chart for CDEV points out that the company has recorded 1.34% gains over the past six months. However, it is still -266.67% lower than its most recent low trading price.

If we look at the average trading volume of 6.49M shares, CDEV reached to a volume of 7269703 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 $8.32 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 0.43, with the Price to Sales ratio for CDEV stock in the period of the last 12 months amounting to 2.29. The Price to Book ratio for the last quarter was 0.74, 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 5.28 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 5.74. With this latest performance, CDEV shares gained by 0.74% in over the last four-week period, additionally plugging by 1.34% over the last 6 months – not to mention a rise of 237.62% 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 54.56, with the RSI for the last a single of trading hit 56.43, and the three-weeks RSI is set at 53.15 for Centennial Resource Development Inc. [CDEV]. The present Moving Average for the last 50 days of trading for this stock 6.71, while it was recorded at 6.95 for the last single week of trading, and 5.82 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 0.50 and a Current Ratio set at 0.50.

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

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

There are presently around $1,400 million, or 73.60% 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 $114.31 million in CDEV stocks shares; and BLACKROCK INC., currently with $88.71 million in CDEV stock with ownership of nearly -2.664% of the company’s market capitalization.

83 institutional holders increased their position in Centennial Resource Development Inc. [NASDAQ:CDEV] by around 24,610,314 shares. Additionally, 74 investors decreased positions by around 18,303,233 shares, while 36 investors held positions by with 158,210,075 shares. The mentioned changes placed institutional holdings at 201,123,622 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.