Centennial Resource Development (CDEV) Earns Outperform Rating from Imperial Capital
Imperial Capital reissued their outperform rating on shares of Centennial Resource Development (NASDAQ:CDEV) in a research report released on Wednesday, Marketbeat.com reports. The brokerage currently has a $31.00 price target on the oil and natural gas company’s stock, up from their previous price target of $26.00. Imperial Capital also issued estimates for Centennial Resource Development’s Q1 2018 earnings at $0.15 EPS, Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.20 EPS and FY2018 earnings at $0.70 EPS.
Several other equities analysts also recently commented on the company. Seaport Global Securities raised Centennial Resource Development from a neutral rating to a buy rating and set a $19.00 price objective on the stock in a research report on Tuesday, December 19th. Wolfe Research began coverage on Centennial Resource Development in a report on Tuesday, November 14th. They issued an outperform rating for the company. BidaskClub cut Centennial Resource Development from a buy rating to a hold rating in a report on Thursday, December 7th. Credit Suisse Group began coverage on Centennial Resource Development in a report on Monday, December 11th. They issued an outperform rating and a $22.00 target price for the company. Finally, Guggenheim began coverage on Centennial Resource Development in a report on Monday, January 29th. They issued a buy rating and a $29.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $24.17.
Shares of Centennial Resource Development (NASDAQ CDEV) traded up $0.43 during trading on Wednesday, reaching $19.93. The company’s stock had a trading volume of 1,395,369 shares, compared to its average volume of 1,697,846. The company has a market cap of $5,379.78, a P/E ratio of 64.29, a PEG ratio of 0.60 and a beta of 1.56. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. Centennial Resource Development has a 12 month low of $14.10 and a 12 month high of $22.14.
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Centennial Resource Development Company Profile
Centennial Resource Development, Inc is an independent oil and natural gas company. The Company is focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.
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