In the last trading session, 7,656,370 Centennial Resource Development, Inc. (NASDAQ:CDEV) shares changed hands as the company’s beta touched 6.56. With the company’s per share price at $6.87 changed hands at $0.3 or 0.05% during last session, the market valuation stood at $1.93 Billion. CDEV’s last price was a discount, traded about -1.16% off its 52-week high of $6.95. The share price had its 52-week low at $0.5, which suggests the last value was 92.72% up since then. When we look at Centennial Resource Development, Inc.’s average trading volume, we note the 10-day average is 10.19 Million shares, with the 3-month average coming to 8.08 Million.
Analysts gave the Centennial Resource Development, Inc. (CDEV) stock a consensus recommendation rating of Hold, calculated at a mean rating of 3.2. If we narrow down to specifics, the data shows that 4 out of 14 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 8 recommended CDEV as a Hold, 2 felt it is a Buy and none rated the stock as Underweight. Centennial Resource Development, Inc.’s EPS for the current quarter is expected to be $0.04.
Centennial Resource Development, Inc. (NASDAQ:CDEV) trade information
Instantly CDEV was in green as seen at the end of in last trading. With action 4.57%, the performance over the past five days has been green. The jump to weekly highs of $6.95- on Monday, Jun 21 added 1.08% to the stock’s daily price. The company’s shares are showing year-to-date upside of 3.58%, with the 5-day performance at 0.09% in the green. However, in the 30-day time frame, Centennial Resource Development, Inc. (NASDAQ:CDEV) is 0.46% up. Looking at the short shares, we see there were 23.08 Million shares sold at short interest cover period of 2.86 days.
The consensus price target for the stock as assigned by Wall Street analysts is $5.55, meaning bulls need a downside of -19.21% from its current market value. According to analyst projections, CDEV’s forecast low is $3 with $8 as the target high. To hit the forecast high, the stock’s price needs a +16.45% upsurge from its current level, while the stock would need to tank -56.33% for it to hit the projected low.
Centennial Resource Development, Inc. (CDEV) estimates and forecasts
Data shows that the Centennial Resource Development, Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +294.83% over the past 6 months, a 110.57% in annual growth rate that is considerably higher than the industry average of 4.4%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Centennial Resource Development, Inc. will rise +100%, while the growth in revenue is estimated to hit 152.6% for the next quarter. Year-over-year growth is forecast to reach 31.3% up from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $184.89 Million. 11 analysts are of the opinion that Centennial Resource Development, Inc.’s revenue for the quarter ending September 01, 2021 will be $204.53 Million. The company’s revenue for the corresponding quarters a year ago was $83.91 Million and $149.1 Million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 120.3%. The estimates for the next quarter sales put growth at 37.2%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -26.3%. The 2021 estimates are for Centennial Resource Development, Inc. earnings to increase by 106.5%, but the outlook for the next 5-year period is at 0% per year.
Centennial Resource Development, Inc. (NASDAQ:CDEV)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.7% of Centennial Resource Development, Inc. shares while 63.87% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 67.02%. There are 174 institutions holding the Centennial Resource Development, Inc. stock share, with Riverstone Holdings LLC the top institutional holder. As of Mar 30, 2021, the company held 29.89% of the shares, roughly 83.46 Million CDEV shares worth $350.53 Million.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 3.63% or 10.15 Million shares worth $42.62 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of May 30, 2021 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and Vanguard Total Stock Market Index Fund. With 6089635 shares estimated at $32.21 Million under it, the former controlled 2.18% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.82% of the shares, roughly 5.07 Million shares worth around $21.29 Million.