Centennial Resource Development Inc. (NASDAQ:CDEV): Buy, Sell Or Hold At $7.40? – Marketing Sentinel
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Centennial Resource Development Inc. (NASDAQ:CDEV): Buy, Sell Or Hold At $7.40?

In recent trading session, Centennial Resource Development Inc. (NASDAQ:CDEV) saw 1.81 million shares changing hands at last check today with its beta currently measuring 5.98. Company’s recent per share price level of $7.40 trading at $0.14 or 1.93% at last check today assigns it a market valuation of $2.10B. That most recent trading price of CDEV’s stock is at a discount of -12.03% from its 52-week high price of $8.29 and is indicating a premium of 71.62% from its 52-week low price of $2.10. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.48 million shares which gives us an average trading volume of 6.50 million if we extend that period to 3-months.

For Centennial Resource Development Inc. (CDEV), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 3.10. Splitting up the data highlights that, out of 15 analysts covering the stock, 3 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 9 suggested the stock as a Hold whereas 2 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.29 in the current quarter.

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Centennial Resource Development Inc. (NASDAQ:CDEV) trade information

Upright in the green today for gaining 1.93%, in the last five days CDEV remained trading in the green while hitting it’s week-highest on Friday, 01/14/22 when the stock touched $7.40 price level, adding 3.01% to its value on the day. Centennial Resource Development Inc.’s shares saw a change of 21.40% in year-to-date performance and have moved 2.40% in past 5-day. Centennial Resource Development Inc. (NASDAQ:CDEV) showed a performance of 16.53% in past 30-days. Number of shares sold short was 39.2 million shares which calculate 5.19 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $8.29 to the stock, which implies a rise of 10.74% to its recent value today. Analysts have been projecting $6.50 as a low price target for the stock while placing it at a high target of $11.00. It follows that stock’s current price would drop -48.65% in reaching the projected high whereas dropping to the targeted low would mean a gain of 12.16% for stock’s current value.

Centennial Resource Development Inc. (CDEV) estimates and forecasts

Statistics highlight that Centennial Resource Development Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 31.76% of value to its shares in past 6 months, showing an annual growth rate of 127.24% while that of industry is -12.70. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 190.60% in the current quarter and calculating 341.70% increase in the next quarter. This year revenue growth is estimated to rise 72.70% from the last financial year’s standing.

11 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $289.22 million for the same. And 11 analysts are in estimates of company making revenue of $284.13 million in the next quarter that will end on Mar 2022. Company posted $148.08 million and $157.06 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 95.30% while estimating it to be 80.90% 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 -26.30% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 108.10% while estimates for its earnings growth in next 5 years are of 6.00%.

CDEV Dividends

Centennial Resource Development Inc. is more likely to be releasing its next quarterly report between February 21 and February 25 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Centennial Resource Development Inc. (NASDAQ:CDEV)’s Major holders

Insiders are in possession of 4.43% of company’s total shares while institution are holding 73.63 percent of that, with stock having share float percentage of 77.04%. Investors also watch the number of corporate investors in a company very closely, which is 73.63% 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 $559.18 million. And as of Sep 29, 2021, it was holding 29.38% of the company’s outstanding shares.

The second largest institutional holder is State Street Corporation, which was holding about 16.42 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 5.78% of outstanding shares, having a total worth of $110.04 million.

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On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 12.62 million shares of worth $84.53 million or 4.44% of the total outstanding shares. The later fund manager was in possession of 5.15 million shares on Sep 29, 2021, making its stake of worth around $34.48 million in the company or a holder of 1.81% of company’s stock.

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