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NASDAQ:CDEV

Centennial Resource Development - CDEV Stock Forecast, Price & News

$6.96
-0.14 (-1.97%)
(As of 08/16/2022 01:58 PM ET)
Add
Compare
Today's Range
$6.87
$7.28
50-Day Range
$5.33
$9.57
52-Week Range
$3.90
$9.70
Volume
241,530 shs
Average Volume
7.64 million shs
Market Capitalization
$1.98 billion
P/E Ratio
5.44
Dividend Yield
N/A
Price Target
$10.13

Centennial Resource Development MarketRank™ Forecast

Analyst Rating
Hold
2.44 Rating Score
Upside/​Downside
45.4% Upside
$10.13 Price Target
Short Interest
Bearish
20.65% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.57mentions of Centennial Resource Development in the last 14 days
Based on 8 Articles This Week
Insider Trading
Selling Shares
$752,453 Sold Last Quarter
Proj. Earnings Growth
9.52%
From $1.89 to $2.07 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.71 out of 5 stars

Oils/Energy Sector

43rd out of 257 stocks

Crude Petroleum & Natural Gas Industry

23rd out of 81 stocks

CDEV stock logo

About Centennial Resource Development (NASDAQ:CDEV) Stock

Centennial Resource Development, Inc., an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company's properties consist of acreage blocks primarily in Reeves County, West Texas and Lea County, New Mexico. As of December 31, 2021, it leased or acquired approximately 73,675 net acres; and owned 991 net mineral acres in the Delaware Basin. The company was formerly known as Silver Run Acquisition Corporation and changed its name to Centennial Resource Development, Inc. in October 2016. The company was incorporated in 2015 and is headquartered in Denver, Colorado.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CDEV. Truist Financial reduced their price objective on Centennial Resource Development to $8.00 in a research note on Friday, May 20th. Royal Bank of Canada raised Centennial Resource Development from a "sector perform" rating to an "outperform" rating and set a $11.00 price objective for the company in a research note on Wednesday, July 6th. MKM Partners reissued a "buy" rating and set a $10.00 price objective on shares of Centennial Resource Development in a research note on Wednesday, July 20th. Cowen set a $10.50 price objective on Centennial Resource Development in a research note on Tuesday, July 19th. Finally, Piper Sandler reduced their price objective on Centennial Resource Development from $12.00 to $11.00 in a research note on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $10.13.

Centennial Resource Development Price Performance

CDEV opened at $7.10 on Tuesday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 5.55 and a beta of 4.91. Centennial Resource Development has a 1 year low of $3.90 and a 1 year high of $9.70. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $6.76 and a 200 day moving average price of $7.64.

Insider Activity at Centennial Resource Development

In related news, COO Matthew R. Garrison sold 115,762 shares of Centennial Resource Development stock in a transaction on Monday, August 8th. The stock was sold at an average price of $6.50, for a total transaction of $752,453.00. Following the completion of the sale, the chief operating officer now owns 1,332,553 shares of the company's stock, valued at $8,661,594.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 29.20% of the company's stock.

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CDEV Stock News Headlines

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CDEV Company Calendar

Last Earnings
11/03/2021
Today
8/16/2022
Next Earnings (Estimated)
11/02/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
N/A
Current Symbol
NASDAQ:CDEV
Fax
N/A
Employees
147
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$10.13
High Stock Price Forecast
$12.00
Low Stock Price Forecast
$5.75
Forecasted Upside/Downside
+45.6%
Consensus Rating
Hold
Rating Score (0-4)
2.44
Research Coverage
9 Analysts

Profitability

Net Income
$138.18 million
Pretax Margin
31.89%

Debt

Sales & Book Value

Annual Sales
$1.03 billion
Cash Flow
$1.66 per share
Book Value
$9.66 per share

Miscellaneous

Free Float
201,645,000
Market Cap
$1.98 billion
Optionable
Optionable
Beta
4.91














CDEV Stock - Frequently Asked Questions

Should I buy or sell Centennial Resource Development stock right now?

9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Centennial Resource Development in the last year. There are currently 1 sell rating, 3 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" CDEV shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CDEV, but not buy additional shares or sell existing shares.
View CDEV analyst ratings
or view top-rated stocks.

What is Centennial Resource Development's stock price forecast for 2022?

9 brokerages have issued twelve-month target prices for Centennial Resource Development's shares. Their CDEV share price forecasts range from $5.75 to $12.00. On average, they anticipate the company's share price to reach $10.13 in the next year. This suggests a possible upside of 42.7% from the stock's current price.
View analysts price targets for CDEV
or view top-rated stocks among Wall Street analysts.

How have CDEV shares performed in 2022?

Centennial Resource Development's stock was trading at $5.98 on January 1st, 2022. Since then, CDEV shares have increased by 18.7% and is now trading at $7.10.
View the best growth stocks for 2022 here
.

When is Centennial Resource Development's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 2nd 2022.
View our CDEV earnings forecast
.

How were Centennial Resource Development's earnings last quarter?

Centennial Resource Development, Inc. (NASDAQ:CDEV) posted its quarterly earnings data on Wednesday, November, 3rd. The oil and natural gas company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.21 by $0.09. The oil and natural gas company had revenue of $288.51 million for the quarter, compared to analysts' expectations of $247.86 million. Centennial Resource Development had a trailing twelve-month return on equity of 18.68% and a net margin of 28.46%. During the same quarter in the previous year, the company earned ($0.19) earnings per share.

What other stocks do shareholders of Centennial Resource Development own?
What is Centennial Resource Development's stock symbol?

Centennial Resource Development trades on the NASDAQ under the ticker symbol "CDEV."

Who are Centennial Resource Development's major shareholders?

Centennial Resource Development's stock is owned by a number of retail and institutional investors. Top institutional shareholders include State Street Corp (5.54%), River Road Asset Management LLC (3.36%), Millennium Management LLC (1.60%), Frontier Capital Management Co. LLC (1.05%), Deutsche Bank AG (0.88%) and Renaissance Technologies LLC (0.83%). Insiders that own company stock include Brent P Jensen, George S Glyphis, Jeffrey Tepper, Mark G Papa, Matthew R Garrison, Non-Eci Usrpi Aiv Riverstone, Silver Run Sponsor, Llc, Steven J Shapiro and Us Centennial Holdings Ll Rel.
View institutional ownership trends
.

How do I buy shares of Centennial Resource Development?

Shares of CDEV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Centennial Resource Development's stock price today?

One share of CDEV stock can currently be purchased for approximately $7.10.

How much money does Centennial Resource Development make?

Centennial Resource Development (NASDAQ:CDEV) has a market capitalization of $2.02 billion and generates $1.03 billion in revenue each year. The oil and natural gas company earns $138.18 million in net income (profit) each year or $1.28 on an earnings per share basis.

How many employees does Centennial Resource Development have?

The company employs 147 workers across the globe.

How can I contact Centennial Resource Development?

Centennial Resource Development's mailing address is 1001 SEVENTEENTH STREET SUITE 1800, DENVER CO, 80202. The official website for the company is www.cdevinc.com. The oil and natural gas company can be reached via phone at (720) 499-1400 or via email at ir@cdevinc.com.

This page (NASDAQ:CDEV) was last updated on 8/16/2022 by MarketBeat.com Staff

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