Centennial Resource Development (NASDAQ:CDEV) Given a $5.00 Price Target by SunTrust Banks Analysts

SunTrust Banks set a $5.00 target price on Centennial Resource Development (NASDAQ:CDEV) in a report released on Wednesday morning, TipRanks reports. The firm currently has a hold rating on the oil and natural gas company’s stock. SunTrust Banks also issued estimates for Centennial Resource Development’s Q3 2019 earnings at $0.05 EPS, Q2 2020 earnings at $0.10 EPS, Q3 2020 earnings at $0.10 EPS, Q4 2020 earnings at $0.11 EPS and FY2020 earnings at $0.43 EPS.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Co began coverage on Centennial Resource Development in a report on Monday, May 20th. They issued a market perform rating and a $12.00 price objective for the company. Barclays reiterated a hold rating and issued a $9.00 price objective on shares of Centennial Resource Development in a report on Tuesday, July 2nd. BidaskClub downgraded Centennial Resource Development from a sell rating to a strong sell rating in a report on Wednesday, June 5th. ValuEngine downgraded Centennial Resource Development from a sell rating to a strong sell rating in a report on Tuesday, July 2nd. Finally, TD Securities dropped their price objective on Centennial Resource Development from $10.00 to $8.50 and set a buy rating for the company in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and an average target price of $14.09.

Shares of CDEV stock traded down $0.10 on Wednesday, reaching $4.60. 5,859,973 shares of the stock were exchanged, compared to its average volume of 5,576,823. The company has a market capitalization of $1.30 billion, a PE ratio of 10.22, a PEG ratio of 7.94 and a beta of 1.90. Centennial Resource Development has a one year low of $4.42 and a one year high of $23.12. The company has a current ratio of 0.53, a quick ratio of 0.78 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average price is $6.52.

Centennial Resource Development (NASDAQ:CDEV) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $244.24 million for the quarter, compared to the consensus estimate of $232.70 million. Centennial Resource Development had a return on equity of 3.66% and a net margin of 8.74%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, analysts anticipate that Centennial Resource Development will post 0.33 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of CDEV. Carroll Financial Associates Inc. boosted its position in shares of Centennial Resource Development by 895.5% during the second quarter. Carroll Financial Associates Inc. now owns 3,335 shares of the oil and natural gas company’s stock worth $25,000 after buying an additional 3,000 shares during the period. Hilton Capital Management LLC bought a new stake in Centennial Resource Development during the first quarter worth about $47,000. Bank of Montreal Can raised its holdings in Centennial Resource Development by 7,891.2% during the first quarter. Bank of Montreal Can now owns 8,151 shares of the oil and natural gas company’s stock worth $72,000 after acquiring an additional 8,049 shares in the last quarter. Twin Tree Management LP raised its holdings in Centennial Resource Development by 6,540.4% during the first quarter. Twin Tree Management LP now owns 9,031 shares of the oil and natural gas company’s stock worth $79,000 after acquiring an additional 8,895 shares in the last quarter. Finally, Pinnacle Associates Ltd. bought a new stake in Centennial Resource Development during the first quarter worth about $103,000. 99.62% of the stock is owned by institutional investors.

Centennial Resource Development Company Profile

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.

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Analyst Recommendations for Centennial Resource Development (NASDAQ:CDEV)

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