In last trading session, Centennial Resource Development, Inc. (NASDAQ:CDEV) saw 5,224,503 shares changing hands with its beta currently measuring 6.84. Company’s recent per share price level of $2.27 trading at -$0.09 or -3.81% at ring of the bell on the day assigns it a market valuation of $634.18 Million. That closing price of CDEV’s stock is at a discount of -105.73% from its 52-week high price of $4.67 and is indicating a premium of 89.65% from its 52-week low price of $0.235. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 8.46 Million shares which gives us an average trading volume of 6.32 Million if we extend that period to 3-months.
For Centennial Resource Development, Inc. (CDEV), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 3.1. Splitting up the data highlights that, out of 17 analysts covering the stock, 4 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 8 suggested the stock as a Hold whereas 3 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.08 in the current quarter.
Centennial Resource Development, Inc. (NASDAQ:CDEV) trade information
In the face of being in the red during last session for losing -3.81%, in the last five days CDEV remained trading in the green while hitting it’s week-highest on Wednesday, Jan 13 when the stock touched $2.39-5 price level, adding 5.02% to its value on the day. Centennial Resource Development, Inc.’s shares saw a change of 51.33% in year-to-date performance and have moved 32.75% in past 5-day. Centennial Resource Development, Inc. (NASDAQ:CDEV) showed a performance of 22.7% in past 30-days. Number of shares sold short was 9.94 Million shares which calculate 1.57 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $1.62 to the stock, which implies targetted prices is already lagging behind -28.63% to its current value. Analysts have been projecting $0.5 as a low price target for the stock while placing it at a high target of $3.5. It follows that stock’s current price would jump +54.19% in reaching the projected high whereas dropping to the targeted low would mean a loss of -77.97% for stock’s current value.
Centennial Resource Development, Inc. (CDEV) estimates and forecasts
Statistics highlight that Centennial Resource Development, Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company added +152.22% of value to its shares in past 6 months, showing an annual growth rate of -3866.67% while that of industry is -34.2. Apart from that, the company came lowering its revenue forecast for fiscal year 2021. The company is estimating its revenue growth to decline by -366.7% in the current quarter and calculating 98.5% increase in the next quarter. This year revenue growth is estimated to drop -40.9% from the last financial year’s standing.
13 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $136.25 Million for the same. And 12 analysts are in estimates of company making revenue of $142.88 Million in the next quarter that will end on March 01, 2021. Company posted $256.39 Million and $192.77 Million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to drop by -46.9% while estimating it to be -25.9% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -30.4% during past 5 years. In 2021, company’s earnings growth rate is likely to be around -92.2% while estimates for its earnings growth in next 5 years are of 0%
Centennial Resource Development, Inc. (NASDAQ:CDEV)’s Major holders
Insiders are in possession of 4.51% of company’s total shares while institution are holding 54.65% percent of that, with stock having share float percentage of 57.23%. Investors also watch the number of corporate investors in a company very closely, which is 123 institutions for Centennial Resource Development, Inc. that are currently holding shares of the company. Riverstone Holdings LLC is the top institutional holder at CDEV for having 83.46 Million shares of worth $50.28 Million. And as of September 29, 2020, it was holding 29.98% of the company’s outstanding shares.
The second largest institutional holder is Prescott Group Capital Management, L.L.C., which was holding about 9.97 Million shares on September 29, 2020. The number of shares represents firm’s hold over 3.58% of outstanding shares, having a total worth of $6.01 Million.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of September 29, 2020, the former fund manager was holding 3582797 shares of worth $2.16 Million or 1.29% of the total outstanding shares. The later fund manager was in possession of 2.79 Million shares on September 29, 2020, making its stake of worth around $1.68 Million in the company or a holder of 1% of company’s stock.
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