Centennial Resource Development (NASDAQ:CDEV) Getting Somewhat Favorable News Coverage, Study Finds

Headlines about Centennial Resource Development (NASDAQ:CDEV) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Centennial Resource Development earned a news impact score of 0.08 on Accern’s scale. Accern also gave media stories about the oil and natural gas company an impact score of 46.5777051639781 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

Here are some of the media stories that may have impacted Accern Sentiment’s rankings:

Several brokerages have weighed in on CDEV. BidaskClub raised Centennial Resource Development from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Stifel Nicolaus set a $25.00 price target on Centennial Resource Development and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Zacks Investment Research upgraded Centennial Resource Development from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Monday, January 29th. Scotiabank restated a “buy” rating and set a $22.00 target price on shares of Centennial Resource Development in a research report on Tuesday, November 7th. Finally, Guggenheim initiated coverage on Centennial Resource Development in a research report on Monday, January 29th. They set a “buy” rating and a $29.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.47.

Centennial Resource Development (NASDAQ CDEV) traded up $0.57 on Monday, reaching $18.67. 1,416,649 shares of the company’s stock were exchanged, compared to its average volume of 1,796,302. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.43. Centennial Resource Development has a twelve month low of $14.10 and a twelve month high of $22.14.

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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.

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