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%.

CDEV has been the subject of several other research reports. BMO Capital Markets set a $18.00 price objective on shares of Centennial Resource Development and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Citigroup set a $22.00 price objective on shares of Centennial Resource Development and gave the stock a “buy” rating in a research report on Friday, October 13th. Bank of America initiated coverage on shares of Centennial Resource Development in a research report on Monday, October 16th. They set a “buy” rating for the company. Zacks Investment Research downgraded shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Scotiabank reissued a “buy” rating and set a $22.00 price objective on shares of Centennial Resource Development in a research report on Tuesday, November 7th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Centennial Resource Development has an average rating of “Buy” and a consensus price target of $23.53.

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.

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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.

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

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