Wall Street analysts expect that Centennial Resource Development Inc (NASDAQ:CDEV) will report earnings per share of $0.22 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Centennial Resource Development’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.17. Centennial Resource Development posted earnings of $0.06 per share in the same quarter last year, which suggests a positive year over year growth rate of 266.7%. The business is expected to issue its next earnings results on Monday, November 5th.

According to Zacks, analysts expect that Centennial Resource Development will report full-year earnings of $0.95 per share for the current financial year, with EPS estimates ranging from $0.80 to $1.19. For the next financial year, analysts forecast that the business will post earnings of $1.26 per share, with EPS estimates ranging from $0.98 to $1.93. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Centennial Resource Development.

Centennial Resource Development (NASDAQ:CDEV) last issued its earnings results on Monday, August 6th. The oil and natural gas company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Centennial Resource Development had a net margin of 24.55% and a return on equity of 5.68%. The firm had revenue of $217.76 million during the quarter, compared to the consensus estimate of $220.58 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 139.1% on a year-over-year basis.

CDEV has been the subject of several recent analyst reports. National Alliance Securities reaffirmed a “hold” rating on shares of Centennial Resource Development in a research note on Saturday, June 2nd. KLR Group reaffirmed a “buy” rating and issued a $29.00 target price on shares of Centennial Resource Development in a research note on Monday, August 20th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $28.00 target price on shares of Centennial Resource Development in a research note on Friday, July 13th. TD Securities initiated coverage on shares of Centennial Resource Development in a research note on Thursday, July 5th. They issued a “buy” rating and a $23.00 target price for the company. Finally, Barclays initiated coverage on shares of Centennial Resource Development in a research note on Wednesday, August 29th. They issued an “overweight” rating and a $24.00 target price for the company. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Centennial Resource Development presently has an average rating of “Buy” and an average target price of $24.42.

NASDAQ:CDEV traded up $0.32 during trading hours on Thursday, hitting $21.72. The stock had a trading volume of 88,052 shares, compared to its average volume of 2,468,562. Centennial Resource Development has a one year low of $15.78 and a one year high of $22.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $5.96 billion, a PE ratio of 77.57 and a beta of 1.38.

Institutional investors have recently added to or reduced their stakes in the stock. First Manhattan Co. grew its position in Centennial Resource Development by 59.0% in the second quarter. First Manhattan Co. now owns 1,108,557 shares of the oil and natural gas company’s stock valued at $20,020,000 after purchasing an additional 411,366 shares in the last quarter. Rhumbline Advisers grew its position in Centennial Resource Development by 15.7% in the second quarter. Rhumbline Advisers now owns 170,805 shares of the oil and natural gas company’s stock valued at $3,085,000 after purchasing an additional 23,131 shares in the last quarter. Victory Capital Management Inc. grew its position in Centennial Resource Development by 13.3% in the second quarter. Victory Capital Management Inc. now owns 110,707 shares of the oil and natural gas company’s stock valued at $1,999,000 after purchasing an additional 12,977 shares in the last quarter. Stonebridge Capital Management Inc. bought a new position in Centennial Resource Development in the second quarter valued at $221,000. Finally, Dean Investment Associates LLC bought a new position in Centennial Resource Development in the second quarter valued at $736,000. 94.38% of the stock is owned by institutional investors and hedge funds.

Centennial Resource Development Company Profile

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.

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Earnings History and Estimates for Centennial Resource Development (NASDAQ:CDEV)

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