US Capital Advisors Analysts Lower Earnings Estimates for Centennial Resource Development Inc (CDEV)
Centennial Resource Development Inc (NASDAQ:CDEV) – Equities researchers at US Capital Advisors cut their FY2017 EPS estimates for shares of Centennial Resource Development in a research note issued to investors on Monday. US Capital Advisors analyst C. Horwitz now forecasts that the oil and natural gas company will post earnings of $0.28 per share for the year, down from their prior forecast of $0.29.
Centennial Resource Development (NASDAQ:CDEV) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Centennial Resource Development had a negative net margin of 49.20% and a negative return on equity of 5.52%.
Shares of Centennial Resource Development (CDEV) opened at $19.61 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.06. Centennial Resource Development has a twelve month low of $14.10 and a twelve month high of $22.14.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Centennial Resource Development by 0.3% in the second quarter. Vanguard Group Inc. now owns 7,773,597 shares of the oil and natural gas company’s stock valued at $122,979,000 after purchasing an additional 25,861 shares in the last quarter. BlackRock Inc. grew its position in Centennial Resource Development by 175.1% in the second quarter. BlackRock Inc. now owns 5,992,125 shares of the oil and natural gas company’s stock valued at $94,795,000 after purchasing an additional 3,814,249 shares in the last quarter. Magnetar Financial LLC bought a new position in Centennial Resource Development in the third quarter valued at $72,858,000. State Street Corp grew its position in Centennial Resource Development by 191.3% in the second quarter. State Street Corp now owns 3,084,242 shares of the oil and natural gas company’s stock valued at $48,795,000 after purchasing an additional 2,025,288 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in Centennial Resource Development by 8.3% in the third quarter. Neuberger Berman Group LLC now owns 2,981,444 shares of the oil and natural gas company’s stock valued at $53,577,000 after purchasing an additional 227,753 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.
About Centennial Resource Development
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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