Centennial Resource Development Inc. [NASDAQ: CDEV] loss -2.06% or -0.13 points to close at $6.18 with a heavy trading volume of 5521790 shares. The company report on July 26, 2022 that Centennial Resource Development, Inc. Announces Second Quarter 2022 Earnings Conference Call.
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Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) announced today that it will report second quarter 2022 financial and operating results after the market closes for trading on August 3, 2022. Management will host an earnings conference call on August 4, 2022 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (833) 634-2524, or (412) 902-4178 for international calls, and referencing “Centennial Resource Development, Inc.” at least 15 minutes prior to the start of the call or via the internet at www.cdevinc.com. A replay of the call will be available on Centennial’s website or by phone at (877) 344-7529 (Access Code: 4165341) for a seven-day period following the call.
It opened the trading session at $6.42, the shares rose to $6.47 and dropped to $6.065, the range by which the price of stock traded the whole day. The daily chart for CDEV points out that the company has recorded -17.93% loss over the past six months. However, it is still -58.46% lower than its most recent low trading price.
If we look at the average trading volume of 10.46M shares, CDEV reached to a volume of 5521790 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 $9.95 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.
Siebert Williams Shank have made an estimate for Centennial Resource Development Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 22, 2022. While these analysts kept the previous recommendation, MKM Partners raised their target price to Buy. The new note on the price target was released on July 20, 2022, representing the official price target for Centennial Resource Development Inc. stock. Previously, the target price had yet another raise to $11, while Wells Fargo analysts kept a Underweight rating on CDEV stock.
The Average True Range (ATR) for Centennial Resource Development Inc. is set at 0.49, with the Price to Sales ratio for CDEV stock in the period of the last 12 months amounting to 1.58. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 0.17. Price to Free Cash Flow for CDEV in the course of the last twelve months was 3.07 with Quick ratio for the last quarter at 0.60.
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 -0.96. With this latest performance, CDEV shares dropped by -1.90% in over the last four-week period, additionally sinking by -17.93% over the last 6 months – not to mention a rise of 8.80% 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 47.19, with the RSI for the last a single of trading hit 50.52, and the three-weeks RSI is set at 45.71 for Centennial Resource Development Inc. [CDEV]. The present Moving Average for the last 50 days of trading for this stock 7.07, while it was recorded at 6.28 for the last single week of trading, and 7.43 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 +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.
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%.
An analysis of insider ownership at Centennial Resource Development Inc. [CDEV]
There are presently around $1,507 million, or 87.20% 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 $116.27 million in CDEV stocks shares; and BLACKROCK INC., currently with $88.07 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 131 institutional holders increased their position in Centennial Resource Development Inc. [NASDAQ:CDEV] by around 53,050,708 shares. Additionally, 96 investors decreased positions by around 41,339,185 shares, while 31 investors held positions by with 144,435,287 shares. The mentioned changes placed institutional holdings at 238,825,180 shares, according to the latest SEC report filing. CDEV stock had 57 new institutional investments in for a total of 11,941,708 shares, while 32 institutional investors sold positions of 5,574,630 shares during the same period.