During the last session, Centennial Resource Development, Inc. (NASDAQ:CDEV)’s traded shares were 5,181,403, with the beta value of the company hitting 6.71. At the end of the trading day, the stock’s price was $4.35, reflecting an intraday gain of 0.93% or $0.04. The 52-week high for the CDEV share is $6.25, that puts it down -43.68% from that peak though still a striking +94% gain since the share price plummeted to a 52-week low of $0.261. The company’s market capitalization is $1.22 Billion, and the average intraday trading volume over the past 10 days was 6.22 Million shares, and the average trade volume was 10.2 Million shares over the past three months.
Centennial Resource Development, Inc. (CDEV) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 3.1. CDEV has a Sell rating from 4 analyst(s) out of 15 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 3 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.01.
Centennial Resource Development, Inc. (NASDAQ:CDEV): Trading Information
Centennial Resource Development, Inc. (CDEV) registered a 0.93% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 5.64% in intraday trading to $4.61- this Tuesday, Apr 06, hitting a weekly high. The stock’s 5-day price performance is 7.14%, and it has moved by -13% in 30 days. Based on these gigs, the overall price performance for the year is 190%. The short interest in Centennial Resource Development, Inc. (NASDAQ:CDEV) is 9.82 Million shares and it means that shorts have 0.96 day(s) to cover.
The consensus price target of analysts on Wall Street is $4.79, which implies an increase of 10.11% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1 and $7.5 respectively. As a result, CDEV is trading at a discount of 72.41% off the target high and -77.01% off the low.
Centennial Resource Development, Inc. (CDEV) projections and forecasts
Statistics show that Centennial Resource Development, Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Centennial Resource Development, Inc. (CDEV) shares have gone up +578.73% during the last six months, with a year-to-date growth rate less than the industry average at -106.5% against 14.5%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 99.5% this quarter and then fall -50% in the quarter after that. In the rating firms’ projections, revenue will increase 23.9% compared to the previous financial year.
Revenue for the current quarter is expected to be $154.61 Million as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $177.2 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $192.77 Million and $83.91 Million respectively. In this case, analysts expect current quarter sales to lessen by -19.8% and then jump by 111.2% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated -26.3%. While earnings are projected to return 104.1% in 2021, the next five years will return 0% per annum.
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Centennial Resource Development, Inc. (NASDAQ:CDEV)’s Biggest Investors
Centennial Resource Development, Inc. insiders own 4.7% of total outstanding shares while institutional holders control 59.51%, with the float percentage being 62.45%. Riverstone Holdings LLC is the largest shareholder of the company, while 129 institutions own stock in it. As of Dec 30, 2020, the company held over 83.46 Million shares (or 29.9% of all shares), a total value of $125.19 Million in shares.
The next largest institutional holding, with 10.27 Million shares, is of Prescott Group Capital Management, L.L.C.’s that is approximately 3.68% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $15.41 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Centennial Resource Development, Inc. (CDEV) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 5,069,093 shares. This amounts to just over 1.82 percent of the company’s overall shares, with a $7.6 Million market value. The same data shows that the other fund manager holds slightly less at 2.54 Million, or about 0.91% of the stock, which is worth about $3.81 Million.