Centennial Resource Development Inc. (NASDAQ: CDEV): A Look At Its Value – Marketing Sentinel
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Centennial Resource Development Inc. (NASDAQ: CDEV): A Look At Its Value

During the recent session, Centennial Resource Development Inc. (NASDAQ:CDEV)’s traded shares were 1.47 million, with the beta value of the company hitting 4.98. At the last check today, the stock’s price was $6.46, reflecting an intraday gain of 5.59% or $0.34. The 52-week high for the CDEV share is $9.70, that puts it down -50.15 from that peak though still a striking 39.63% gain since the share price plummeted to a 52-week low of $3.90. The company’s market capitalization is $1.71B, and the average intraday trading volume over the past 10 days was 7.14 million shares, and the average trade volume was 10.20 million shares over the past three months.

Centennial Resource Development Inc. (CDEV) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.80. CDEV has a Sell rating from 1 analyst(s) out of 11 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.43.

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

Centennial Resource Development Inc. (CDEV) registered a 5.59% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 5.59% in intraday trading to $6.46 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is -7.13%, and it has moved by 10.07% in 30 days. Based on these gigs, the overall price performance for the year is 35.70%. The short interest in Centennial Resource Development Inc. (NASDAQ:CDEV) is 40.14 million shares and it means that shorts have 3.53 day(s) to cover.

The consensus price target of analysts on Wall Street is $9.82, which implies an increase of 34.22% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.50 and $13.00 respectively. As a result, CDEV is trading at a discount of -101.24% off the target high and -0.62% off the low.

Centennial Resource Development Inc. (CDEV) estimates and forecasts

Statistics show that Centennial Resource Development Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Centennial Resource Development Inc. (CDEV) shares have gone down -25.09% during the last six months, with a year-to-date growth rate more than the industry average at 173.91% against 25.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 577.80% this quarter and then jump 333.30% in the quarter after that. In the rating firms’ projections, revenue will increase 102.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $389.32 million as predicted by 8 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $464.41 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 18.40%. While earnings are projected to return 118.10% in 2022, the next five years will return 6.00% per annum.

CDEV Dividends

Centennial Resource Development Inc. is due to release its next quarterly earnings between November 01 and November 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Centennial Resource Development Inc. insiders own 4.03% of total outstanding shares while institutional holders control 83.69%, with the float percentage being 87.21%. Riverstone Holdings LLC is the largest shareholder of the company, while 306 institutions own stock in it. As of Mar 30, 2022, the company held over 68.86 million shares (or 24.16% of all shares), a total value of $445.51 million in shares.

The next largest institutional holding, with 18.43 million shares, is of State Street Corporation’s that is approximately 6.47% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $119.21 million.

Also, the Mutual Funds coming in first place with the largest holdings of Centennial Resource Development Inc. (CDEV) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2022 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF owns about 12.05 million shares. This amounts to just over 4.23 percent of the company’s overall shares, with a $77.96 million market value. The same data shows that the other fund manager holds slightly less at 5.42 million, or about 1.90% of the stock, which is worth about $35.08 million.

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