Centennial Resource Development (NASDAQ:CDEV) is set to post its quarterly earnings results after the market closes on Monday, August 5th. Analysts expect Centennial Resource Development to post earnings of $0.11 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.
Centennial Resource Development (NASDAQ:CDEV) last issued its quarterly earnings results on Monday, May 6th. The oil and natural gas company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The company had revenue of $214.57 million during the quarter, compared to the consensus estimate of $211.08 million. Centennial Resource Development had a return on equity of 5.04% and a net margin of 14.13%. Centennial Resource Development’s revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. On average, analysts expect Centennial Resource Development to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Shares of CDEV opened at $5.32 on Friday. The company has a market capitalization of $1.64 billion, a P/E ratio of 7.09, a PEG ratio of 10.00 and a beta of 1.91. The stock has a fifty day moving average of $6.78. Centennial Resource Development has a 52-week low of $5.17 and a 52-week high of $23.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.78 and a current ratio of 0.78.
A number of analysts recently issued reports on the company. BidaskClub downgraded Centennial Resource Development from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 5th. Jefferies Financial Group downgraded Centennial Resource Development from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. ValuEngine downgraded Centennial Resource Development from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. downgraded Centennial Resource Development from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $11.00 to $10.00 in a research report on Friday, June 7th. Finally, Barclays reiterated a “hold” rating and set a $9.00 target price on shares of Centennial Resource Development in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Centennial Resource Development presently has a consensus rating of “Hold” and an average price target of $16.82.
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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