Centennial Resource Development (NASDAQ:CDEV) will issue its quarterly earnings data after the market closes on Monday, November 5th. Analysts expect the company to announce earnings of $0.20 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.
Centennial Resource Development (NASDAQ:CDEV) last issued its quarterly earnings data on Monday, August 6th. The oil and natural gas company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $217.76 million during the quarter, compared to analysts’ expectations of $220.58 million. Centennial Resource Development had a return on equity of 5.68% and a net margin of 24.55%. The firm’s quarterly revenue was up 139.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. On average, analysts expect Centennial Resource Development to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Shares of NASDAQ CDEV opened at $19.55 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $5.17 billion, a P/E ratio of 69.82 and a beta of 1.30. Centennial Resource Development has a 1-year low of $15.78 and a 1-year high of $23.12.
CDEV has been the subject of a number of analyst reports. BidaskClub upgraded Centennial Resource Development from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. SunTrust Banks upgraded Centennial Resource Development from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Friday, September 7th. Barclays began coverage on Centennial Resource Development in a research note on Wednesday, August 29th. They issued an “overweight” rating and a $24.00 price target for the company. Jefferies Financial Group began coverage on Centennial Resource Development in a research note on Thursday, August 23rd. They issued a “buy” rating and a $23.00 price target for the company. Finally, Susquehanna Bancshares began coverage on Centennial Resource Development in a research note on Wednesday, July 11th. They issued a “neutral” rating and a $21.00 price target for the company. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $24.74.
Centennial Resource Development Company Profile
Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.
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