Centennial Resource Development Inc. (NASDAQ:CDEV)’s traded shares stood at 5.19 million during the last session, with the company’s beta value hitting 6.58. At the close of trading, the stock’s price was $5.62, to imply a decrease of -1.75% or -$0.1 in intraday trading. The CDEV share’s 52-week high remains $7.51, putting it -33.63% down since that peak but still an impressive 90.57% since price per share fell to its 52-week low of $0.53. The company has a valuation of $1.57B, with an average of 6.95 million shares in intraday trading volume over the past 10 days and average of 7.36 million shares over the past 3 months.
Analysts have given a consensus recommendation of a Hold for Centennial Resource Development Inc. (CDEV), translating to a mean rating of 3.10. Of 15 analyst(s) looking at the stock, 3 analyst(s) give CDEV a Sell rating. 1 of those analysts rate the stock as Overweight while 9 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.18.
Centennial Resource Development Inc. (NASDAQ:CDEV) trade information
After registering a -1.75% downside in the last session, Centennial Resource Development Inc. (CDEV) has traded red over the past five days. The stock hit a weekly high of 5.78 this Thursday, 09/16/21, dropping -1.75% in its intraday price action. The 5-day price performance for the stock is 7.05%, and 26.86% over 30 days. With these gigs, the year-to-date price performance is 274.67%. Short interest in Centennial Resource Development Inc. (NASDAQ:CDEV) saw shorts transact 23.08 million shares and set a 2.83 days time to cover.
Analysts on Wall Street suggest a consensus price target of $6.57, implying an increase of 14.46% to the stock’s current value. The extremes give us $4.00 and $9.00 for target low and target high price respectively. As such, CDEV has been trading -60.14% off suggested target high and 28.83% from its likely low.
Centennial Resource Development Inc. (CDEV) estimates and forecasts
Looking at statistics comparing Centennial Resource Development Inc. share performance against respective industry, we note that the company has outperformed competitors. Centennial Resource Development Inc. (CDEV) shares are 37.75% up over the last 6 months, with its year-to-date growth rate higher than industry average at 120.73% against 10.40%. Revenue is forecast to grow 194.70% this quarter before jumping 159.40% for the next one. The rating firms project that company’s revenue will grow 51.70% compared to the previous financial year.
Revenue forecast for the current quarter as set by 11 analysts is $240.06 million. Meanwhile, for the quarter ending Dec 2021, a total of 11 analyst(s) estimate revenue growth to $240.98 million.Earnings reports from the last fiscal year show that sales brought in $149.1 million and $148.08 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 61.00% before jumping 62.70% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -26.30% for the past 5-year period. While 2021 is set for a 106.10% return in earnings, projections for the next 5 years are at 6.00% annually.
Centennial Resource Development Inc. has its next earnings report out between November 01 and November 05. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Centennial Resource Development Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Centennial Resource Development Inc. (NASDAQ:CDEV)’s Major holders
Centennial Resource Development Inc. insiders hold 4.70% of total outstanding shares, with institutional holders owning 63.87% of the shares at 67.02% float percentage. In total, 63.87% institutions holds shares in the company, led by Riverstone Holdings LLC. As of Mar 30, 2021, the company held over 83.46 million shares (or 29.89% of shares), all amounting to roughly $350.53 million.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 10.15 million shares, or about 3.63% of shares outstanding. As of the market price on Mar 30, 2021, these shares were worth $42.62 million.
We also have SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Centennial Resource Development Inc. (CDEV) shares. Going by data provided on May 30, 2021, SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF holds roughly 6.09 million shares. This is just over 2.18% of the total shares, with a market valuation of $32.21 million. Data from the same date shows that the other fund manager holds a little less at 5.07 million, or 1.82% of the shares, all valued at about 21.29 million.