Centennial Resource Development Inc (NASDAQ:CDEV) – Research analysts at Seaport Global Securities lowered their Q2 2019 earnings per share estimates for shares of Centennial Resource Development in a note issued to investors on Wednesday, July 17th. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will earn $0.11 per share for the quarter, down from their previous estimate of $0.18. Seaport Global Securities also issued estimates for Centennial Resource Development’s Q3 2019 earnings at $0.14 EPS, Q4 2019 earnings at $0.18 EPS, FY2019 earnings at $0.51 EPS, Q1 2020 earnings at $0.23 EPS, Q2 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.23 EPS and FY2020 earnings at $0.99 EPS.

Centennial Resource Development (NASDAQ:CDEV) last posted its earnings results on Monday, May 6th. The oil and natural gas company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.04 by $0.04. Centennial Resource Development had a net margin of 14.13% and a return on equity of 5.04%. The business had revenue of $214.57 million for the quarter, compared to the consensus estimate of $211.08 million. During the same period last year, the company earned $0.25 EPS. The firm’s revenue was down .6% compared to the same quarter last year.

CDEV has been the subject of several other research reports. Wells Fargo & Co lowered shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a report on Monday, May 20th. JPMorgan Chase & Co. raised their price target on shares of Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a “neutral” rating in a report on Friday, June 7th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Piper Jaffray Companies set a $92.00 price target on shares of Wintrust Financial and gave the stock a “buy” rating in a report on Monday, July 8th. Finally, SunTrust Banks lowered shares of SUNDANCE ENERGY/S to a “hold” rating in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.82.

Centennial Resource Development stock opened at $6.24 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.27. Centennial Resource Development has a 52-week low of $5.93 and a 52-week high of $23.12. The stock’s 50 day moving average price is $7.23. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 8.60 and a beta of 1.92.

Several large investors have recently added to or reduced their stakes in CDEV. Norges Bank bought a new stake in shares of Centennial Resource Development in the 4th quarter valued at $12,791,000. Frontier Capital Management Co. LLC increased its stake in shares of Centennial Resource Development by 17.8% in the 1st quarter. Frontier Capital Management Co. LLC now owns 5,066,515 shares of the oil and natural gas company’s stock valued at $44,535,000 after acquiring an additional 764,828 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in shares of Centennial Resource Development in the 2nd quarter valued at $5,312,000. BlackRock Inc. increased its stake in shares of Centennial Resource Development by 7.2% in the 4th quarter. BlackRock Inc. now owns 8,453,179 shares of the oil and natural gas company’s stock valued at $93,155,000 after acquiring an additional 568,155 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Centennial Resource Development by 18.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,560,405 shares of the oil and natural gas company’s stock valued at $39,235,000 after acquiring an additional 542,778 shares in the last quarter. Institutional investors own 99.38% of the company’s stock.

About Centennial Resource Development

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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