Centennial Resource Development Inc. [CDEV] fell -4.18% so far this year. What now?


Centennial Resource Development Inc. [NASDAQ: CDEV] closed the trading session at $5.73 on 07/18/22. The day’s price range saw the stock hit a low of $5.68, while the highest price level was $5.90. The company report on June 21, 2022 that Centennial Resource Development and Colgate Energy to Present at the J.P. Morgan Energy, Power & Renewables Conference.

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Centennial Resource Development, Inc. (“Centennial) (NASDAQ: CDEV) and Colgate Energy Partners III, LLC (“Colgate and, together with Centennial, the “Companies) today announced that Sean Smith, CEO of Centennial, and Will Hickey and James Walter, Co-CEOs of Colgate, are scheduled to present at the J.P. Morgan Energy, Power & Renewables Conference in New York City, New York on June 22, 2022 at 10:30 a.m. Eastern Time. The live audio webcast will be available on Centennial’s website at www.cdevinc.com under the Investor Relations tab.

The stocks have a year to date performance of -4.18 percent and weekly performance of 0.35 percent. The stock has been moved at -21.07 percent over the last six months. The stock has performed -33.14 percent around the most recent 30 days and changed -39.04 percent over the most recent 3-months.

If compared to the average trading volume of 10.64M shares, CDEV reached to a volume of 6740409 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 $10.44 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 2.80. 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.

Wells Fargo have made an estimate for Centennial Resource Development Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on July 11, 2022. The new note on the price target was released on July 06, 2022, representing the official price target for Centennial Resource Development Inc. stock. Previously, the target price had yet another raise from $10 to $13, while Piper Sandler kept a Overweight rating on CDEV stock. On April 01, 2022, analysts increased their price target for CDEV shares from 8.40 to 11.20.

The Average True Range (ATR) for Centennial Resource Development Inc. is set at 0.50, with the Price to Sales ratio for CDEV stock in the period of the last 12 months amounting to 1.33. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 0.18. Price to Free Cash Flow for CDEV in the course of the last twelve months was 2.58 with Quick ratio for the last quarter at 0.60.

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 0.35. With this latest performance, CDEV shares dropped by -33.14% in over the last four-week period, additionally sinking by -21.07% over the last 6 months – not to mention a rise of 3.99% 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 38.82, with the RSI for the last a single of trading hit 40.66, and the three-weeks RSI is set at 39.61 for Centennial Resource Development Inc. [CDEV]. The present Moving Average for the last 50 days of trading for this stock 7.20, while it was recorded at 5.53 for the last single week of trading, and 7.45 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 +35.24 and a Gross Margin at +45.97. Centennial Resource Development Inc.’s Net Margin is presently recorded at +13.42.

Return on Equity for this stock inclined to 5.16, with Return on Assets sitting at 3.41.

Centennial Resource Development Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Earnings per share (EPS) analysis for Centennial Resource Development Inc. [CDEV] stock

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%.

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

There are presently around $1,274 million, or 84.80% of CDEV stock, in the hands of institutional investors. The top three institutional holders of CDEV stocks are: RIVERSTONE HOLDINGS LLC with ownership of 68,858,550, which is approximately -17.494% of the company’s market cap and around 3.80% of the total institutional ownership; STATE STREET CORP, holding 18,425,711 shares of the stock with an approximate value of $101.71 million in CDEV stocks shares; and BLACKROCK INC., currently with $77.04 million in CDEV stock with ownership of nearly 1.264% of the company’s market capitalization.

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 126 institutional holders increased their position in Centennial Resource Development Inc. [NASDAQ:CDEV] by around 45,527,883 shares. Additionally, 96 investors decreased positions by around 41,158,670 shares, while 31 investors held positions by with 144,075,869 shares. The mentioned changes placed institutional holdings at 230,762,422 shares, according to the latest SEC report filing. CDEV stock had 56 new institutional investments in for a total of 7,559,111 shares, while 31 institutional investors sold positions of 5,536,147 shares during the same period.