Centennial Resource Development Inc (CDEV) Forecasted to Post Q1 2018 Earnings of $0.23 Per Share

Centennial Resource Development Inc (NASDAQ:CDEV) – Stock analysts at US Capital Advisors raised their Q1 2018 earnings per share (EPS) estimates for shares of Centennial Resource Development in a note issued to investors on Monday, Zacks Investment Research reports. US Capital Advisors analyst C. Horwitz now forecasts that the oil and natural gas company will post earnings per share of $0.23 for the quarter, up from their prior forecast of $0.20. US Capital Advisors also issued estimates for Centennial Resource Development’s Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.26 EPS, FY2018 earnings at $0.99 EPS, Q1 2019 earnings at $0.45 EPS, Q2 2019 earnings at $0.47 EPS, Q3 2019 earnings at $0.50 EPS, Q4 2019 earnings at $0.51 EPS and FY2019 earnings at $1.93 EPS.

A number of other equities research analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Centennial Resource Development from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Stifel Nicolaus set a $25.00 price objective on shares of Centennial Resource Development and gave the company a “buy” rating in a research note on Tuesday, January 30th. Zacks Investment Research upgraded shares of Centennial Resource Development from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Monday, January 29th. Scotiabank restated a “buy” rating and issued a $22.00 price objective on shares of Centennial Resource Development in a research note on Tuesday, November 7th. Finally, Guggenheim assumed coverage on shares of Centennial Resource Development in a research note on Monday, January 29th. They issued a “buy” rating and a $29.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $23.53.

Shares of Centennial Resource Development (NASDAQ CDEV) opened at $17.92 on Tuesday. Centennial Resource Development has a 1 year low of $14.10 and a 1 year high of $22.14. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.06.

Institutional investors have recently modified their holdings of the company. Public Employees Retirement Association of Colorado increased its stake in shares of Centennial Resource Development by 123.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 7,781 shares of the oil and natural gas company’s stock worth $154,000 after acquiring an additional 4,298 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Centennial Resource Development by 44.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,033 shares of the oil and natural gas company’s stock worth $159,000 after acquiring an additional 2,490 shares during the period. First Quadrant L P CA acquired a new position in shares of Centennial Resource Development during the fourth quarter worth about $175,000. Royal Bank of Canada increased its stake in shares of Centennial Resource Development by 9.9% during the second quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock worth $145,000 after acquiring an additional 830 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Centennial Resource Development during the fourth quarter worth about $192,000. Institutional investors and hedge funds own 93.72% of the company’s stock.

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

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