Centennial Resource Development, Inc. (NASDAQ:CDEV) has a beta value of 6.74 and has seen 4,460,463 shares traded in the recent trading session. The company, currently valued at $171.29 Million, closed the recent trade at $0.6 per share which meant it gained $0.03 on the day or 5.22% during that session. The CDEV stock price is -858.33% off its 52-week high price of $5.75 and 60.83% 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 8.32 Million shares traded. The 3-month trading volume is 10.63 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 3.1. 6 analysts rate the stock as a Sell, while none rate it as Overweight. 7 out of 18 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 -$0.21.
Centennial Resource Development, Inc. (NASDAQ:CDEV) trade information
Sporting 5.22% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Sep 15 when the CDEV stock price touched $0.6099 or saw a rise of 3.03%. Year-to-date, Centennial Resource Development, Inc. shares have moved -87.2%, while the 5-day performance has seen it change 5.03%. Over the past 30 days, the shares of Centennial Resource Development, Inc. (NASDAQ:CDEV) have changed -34.15%. Short interest in the company has seen 16.75 Million shares shorted with days to cover at 1.58.
Wall Street analysts have a consensus price target for the stock at $1.18, which means that the shares’ value could jump 96.67% from current levels. The projected low price target is $0.5 while the price target rests at a high of $3. In that case, then, we find that the current price level is +400% off the targeted high while a plunge would see the stock lose -16.67% 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 gained +12.13% over the past 6 months, with this year growth rate of -4016.67%, compared to -44.1% 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 -2000% and -466.7% for the next quarter. Revenue growth from the last financial year stood is estimated to be -44.9%.
13 analysts offering their estimates for the company have set an average revenue estimate of $113.2 Million for the current quarter. 13 have an estimated revenue figure of $129Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $229.13 Million and $256.39 Million respectively for this quarter and the next, and analysts expect sales will grow by -50.6% for the current quarter and -49.7% 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%.
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 83.46 Million shares worth more than $74.28 Million. As of June 29, 2020, Riverstone Holdings LLC held 29.99% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 14.82 Million shares as of June 29, 2020. The firm’s total holdings are worth over $13.19 Million and represent 5.32% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and First Tr Exchg Tr AlphaDEX Fd-FT Small Cap Core AlphaDEX. As of June 29, 2020, the former fund manager holds about 1.83% shares in the company for having 5081833 shares of worth $4.52 Million while later fund manager owns 3.56 Million shares of worth $4.2 Million as of April 29, 2020, which makes it owner of about 1.28% of company’s outstanding stock.