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NASDAQ:CDEV

Centennial Resource Development - CDEV Stock Forecast, Price & News

$7.56
+0.42 (+5.88%)
(As of 08/18/2022 05:45 PM ET)
Add
Compare
Today's Range
$7.20
$7.58
50-Day Range
$5.33
$9.46
52-Week Range
$3.90
$9.70
Volume
7.75 million shs
Average Volume
9.83 million shs
Market Capitalization
$2.15 billion
P/E Ratio
5.91
Dividend Yield
N/A
Price Target
$10.13

Centennial Resource Development MarketRank™ Forecast

Analyst Rating
Hold
2.44 Rating Score
Upside/​Downside
40.9% Upside
$10.57 Price Target
Short Interest
Bearish
20.65% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.38mentions of Centennial Resource Development in the last 14 days
Based on 4 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.

2.38 out of 5 stars

Oils/Energy Sector

105th out of 254 stocks

Crude Petroleum & Natural Gas Industry

44th out of 80 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.

Centennial Resource Development Price Performance

Shares of CDEV traded up $0.23 during trading hours on Wednesday, hitting $7.14. 5,925,703 shares of the company were exchanged, compared to its average volume of 9,838,701. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.27. Centennial Resource Development has a fifty-two week low of $3.90 and a fifty-two week high of $9.70. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 5.58 and a beta of 4.90. The firm's fifty day moving average is $6.66 and its 200 day moving average is $7.63.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CDEV shares. Cowen set a $10.50 price target on Centennial Resource Development in a report on Tuesday, July 19th. Royal Bank of Canada raised shares of Centennial Resource Development from a "sector perform" rating to an "outperform" rating and set a $11.00 target price for the company in a report on Wednesday, July 6th. MKM Partners reissued a "buy" rating and issued a $10.00 price target on shares of Centennial Resource Development in a report on Wednesday, July 20th. Piper Sandler reduced their price objective on Centennial Resource Development from $12.00 to $11.00 in a report on Friday, July 22nd. Finally, Siebert Williams Shank started coverage on Centennial Resource Development in a research note on Friday, July 22nd. They set a "buy" rating and a $12.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $10.13.

Insider Buying and Selling

In other Centennial Resource Development news, COO Matthew R. Garrison sold 115,762 shares of the firm's stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $6.50, for a total value of $752,453.00. Following the transaction, the chief operating officer now directly owns 1,332,553 shares of the company's stock, valued at approximately $8,661,594.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 29.20% of the stock is currently owned by company insiders.

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CDEV Stock News Headlines

CDEV Crosses Above Key Moving Average Level
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Lithium is the uncontested fuel of the green energy revolution. One little-known small-cap lithium mining company in a renowned South American location has started attracting interest from opportunity-minded investors.
See More Headlines
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CDEV Company Calendar

Last Earnings
11/03/2021
Today
8/18/2022
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
$10.57
High Stock Price Forecast
$12.00
Low Stock Price Forecast
$8.00
Forecasted Upside/Downside
+34.0%
Consensus Rating
Hold
Rating Score (0-4)
2.44
Research Coverage
8 Analysts

Profitability

Net Income
$138.18 million
Pretax Margin
31.89%

Debt

Sales & Book Value

Annual Sales
$1.03 billion
Cash Flow
$1.90 per share
Book Value
$10.43 per share

Miscellaneous

Free Float
201,645,000
Market Cap
$2.15 billion
Optionable
Optionable
Beta
4.90

Key Executives

  • Mr. Sean R. Smith (Age 49)
    CEO & Director
    Comp: $2.09M
  • Mr. George S. Glyphis (Age 52)
    Exec. VP & Chief Financial Officer
    Comp: $1.16M
  • Mr. Matthew R. Garrison (Age 40)
    Exec. VP & COO
    Comp: $1M
  • Mr. Brent P. JensenMr. Brent P. Jensen (Age 52)
    Sr. VP & Chief Accounting Officer
    Comp: $838.96k
  • Mr. Davis O. O'Connor (Age 67)
    EVP, Gen. Counsel and Sec.
    Comp: $986.94k
  • Mr. Hays Mabry
    Director of Investor Relations
  • Ms. Kathleen M. Phillips
    VP of HR
  • Mr. William A. Weidig
    VP of Fin. & Treasurer
  • Ms. Jamie L. Wheat (Age 52)
    VP of Accounting
  • Mr. Ward Polzin CFA (Age 59)
    Consultant













CDEV Stock - Frequently Asked Questions

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

8 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Centennial Resource Development in the last year. There are currently 1 sell rating, 2 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" CDEV shares.
View CDEV analyst ratings
or view top-rated stocks.

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

8 brokerages have issued 1-year price objectives for Centennial Resource Development's stock. Their CDEV share price forecasts range from $8.00 to $12.00. On average, they anticipate the company's share price to reach $10.57 in the next year. This suggests a possible upside of 48.0% 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 at the beginning of 2022. Since then, CDEV stock has increased by 19.4% and is now trading at $7.14.
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) issued its quarterly earnings results on Wednesday, November, 3rd. The oil and natural gas company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by $0.09. The oil and natural gas company earned $288.51 million during the quarter, compared to the consensus estimate 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 many different institutional and retail 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 $7.14.

How much money does Centennial Resource Development make?

Centennial Resource Development (NASDAQ:CDEV) has a market capitalization of $2.03 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 8/18/2022 by MarketBeat.com Staff

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