SunTrust Banks Equities Analysts Decrease Earnings Estimates for Centennial Resource Development Inc (CDEV)

Centennial Resource Development Inc (NASDAQ:CDEV) – Equities research analysts at SunTrust Banks cut their FY2020 earnings per share (EPS) estimates for Centennial Resource Development in a report released on Tuesday, May 7th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will earn $0.74 per share for the year, down from their prior forecast of $0.75. SunTrust Banks also issued estimates for Centennial Resource Development’s FY2021 earnings at $0.84 EPS.

Centennial Resource Development (NASDAQ:CDEV) last posted its quarterly earnings results on Monday, May 6th. The oil and natural gas company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.04. Centennial Resource Development had a net margin of 22.43% and a return on equity of 6.51%. The firm had revenue of $214.57 million for the quarter, compared to analyst estimates of $211.08 million. During the same quarter last year, the firm posted $0.25 earnings per share. Centennial Resource Development’s revenue for the quarter was down .6% compared to the same quarter last year.

Several other research analysts have also commented on CDEV. BidaskClub lowered shares of Centennial Resource Development from a “hold” rating to a “sell” rating in a report on Thursday. TD Securities cut their price target on shares of Centennial Resource Development from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday. Credit Suisse Group set a $12.00 price target on shares of Centennial Resource Development and gave the company a “hold” rating in a report on Tuesday, February 26th. Zacks Investment Research upgraded shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. Finally, Ifs Securities restated a “strong-buy” rating on shares of Centennial Resource Development in a report on Sunday, February 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.63.

NASDAQ CDEV opened at $10.10 on Friday. Centennial Resource Development has a one year low of $8.28 and a one year high of $23.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market capitalization of $2.79 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.68 and a beta of 1.94.

A number of large investors have recently modified their holdings of CDEV. Penserra Capital Management LLC grew its position in Centennial Resource Development by 158.7% in the fourth quarter. Penserra Capital Management LLC now owns 3,136 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 1,924 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Centennial Resource Development in the fourth quarter valued at approximately $37,000. Bank of Montreal Can grew its position in shares of Centennial Resource Development by 7,891.2% during the first quarter. Bank of Montreal Can now owns 8,151 shares of the oil and natural gas company’s stock worth $72,000 after buying an additional 8,049 shares in the last quarter. Ffcm LLC acquired a new stake in shares of Centennial Resource Development during the fourth quarter worth approximately $100,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Centennial Resource Development during the fourth quarter worth approximately $117,000.

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

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