Centennial Resource Development, Inc. (NASDAQ:CDEV) has a beta value of 7.39 and has seen 7,722,624 shares traded in the recent trading session. The company, currently valued at $260.73 Million, closed the recent trade at $0.9375 per share which meant it lost $0 on the day or 2% during that session. The CDEV stock price is -735.2% off its 52-week high price of $7.83 and 74.93% above the 52-week low of $0.235. If we look at the company’s 10-day average daily trading volume, we find that it stood at 20.28 Million shares traded. The 3-month trading volume is 19.75 Million shares.
The consensus among analysts is that Centennial Resource Development, Inc. (CDEV) is a Hold stock at the moment, with a recommendation rating of 3.2. 7 analysts rate the stock as a Sell, while none rate it as Overweight. 10 out of 22 have rated it as a Hold, with 4 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.24.
Centennial Resource Development, Inc. (NASDAQ:CDEV) trade information
Sporting 1.04% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Jun 23 when the CDEV stock price touched $1.13 or saw a rise of 17.81%. Year-to-date, Centennial Resource Development, Inc. shares have moved -79.9%, while the 5-day performance has seen it change -12.38%. Over the past 30 days, the shares of Centennial Resource Development, Inc. (NASDAQ:CDEV) have changed -8.04%. Short interest in the company has seen 25.6 Million shares shorted with days to cover at 1.3.
Wall Street analysts have a consensus price target for the stock at $1.11, which means that the shares’ value could jump 18.4% from current levels. The projected low price target is $0.25 while the price target rests at a high of $2.25. In that case, then, we find that the current price level is +140% off the targeted high while a plunge would see the stock lose -73.33% from current levels.
Centennial Resource Development, Inc. (CDEV) estimates and forecasts
Figures show that Centennial Resource Development, Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -79.53% over the past 6 months, with this year growth rate of -1166.67%, compared to -32.5% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -442.9% and -2000% for the next quarter. Revenue growth from the last financial year stood is estimated to be -47.9%.
13 analysts offering their estimates for the company have set an average revenue estimate of $82.74 Million for the current quarter. 13 have an estimated revenue figure of $103.06 Million for the next quarter concluding in September 01, 2020. Year-ago sales stood $237.77 Million and $229.13 Million respectively for this quarter and the next, and analysts expect sales will grow by -65.2% for the current quarter and -55% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -30.4% over the past 5 years. Earnings growth for 2020 is a modest -92.2% while over the next 5 years, the company’s earnings are expected to increase by 0%.
Centennial Resource Development, Inc. (NASDAQ:CDEV)’s Major holders
Insiders own 1.97% of the company shares, while shares held by institutions stand at 107.08% with a share float percentage of 109.23%. Investors are also buoyed by the number of investors in a company, with Centennial Resource Development, Inc. having a total of 244 institutions that hold shares in the company. The top two institutional holders are Riverstone Holdings LLC with over 70.27 Million shares worth more than $18.48 Million. As of March 30, 2020, Riverstone Holdings LLC held 25.36% of shares outstanding.
The other major institutional holder is FMR, LLC, with the holding of over 23.98 Million shares as of March 30, 2020. The firm’s total holdings are worth over $6.31 Million and represent 8.65% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Contrafund Inc and SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF. As of March 30, 2020, the former fund manager holds about 4.72% shares in the company for having 13070706 shares of worth $3.44 Million while later fund manager owns 10.14 Million shares of worth $2.67 Million as of March 30, 2020, which makes it owner of about 3.66% of company’s outstanding stock.