Analysts’ Views On Centennial Resource Development Inc. (CDEV)

Centennial Resource Development Inc. (NASDAQ:CDEV) traded with a subtraction of -$0.42 to $6.76 on Wednesday, a downside of -5.89 percent. An average of 7,222,304 shares of common stock have been traded in the last five days. The last 20 days have seen an average of 7,075,811 shares traded, while the 50-day average volume stands at 6,752,834.

CDEV stock has increased by 39.15% in the last month. The company shares reached their 1-month lowest point of $5.05 on 09/09/21. With the stock rallying to its 52-week high on 10/05/21, shares of the company touched a low of $0.53 and a high of $7.57 in 52 weeks. In spite of this, the price is down -10.74% from the 52-week high.


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Insider Transactions

1 day have passed since Centennial Resource Development Inc. (CDEV) last reported insider trading activity. Jensen Brent P, who is SVP, Chief Accounting Officer, most recently acquired $6,338 shares at $7.50 per share on Oct 05. In this transaction, the insider spent $47,535. SVP, Chief Accounting Officer, Jensen Brent P, disposed of 22,120 shares at a price of $7.21 on Oct 04. The insider now owns more than $159,456 worth of shares. Prior to that, SVP, Chief Accounting Officer Jensen Brent P went on to Sale 9,140 shares at $7.00 each on Oct 01. An amount of $63,980 was transacted.

Valuation Metrics

Centennial Resource Development Inc. (CDEV) has a trailing price-to-earnings (P/E) ratio of 18.90 for the broader industry and 18.61 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, Centennial Resource Development Inc.’s PE ratio has ranged between 150.14 and 4.413. The stock’s beta is 6.25. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.65, the price-to-book (PB) ratio at 0.79, and the price-to-cash flow ratio at 7.20.

Financial Health

The quick ratio of Centennial Resource Development Inc. for the three months ended June 29 was 0.50, and the current ratio was 0.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.42 and a total debt to equity ratio of 0.42 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 79.90% against a 5-year average of 19.7%. Centennial Resource Development Inc.’s EBITDA margin for the year ending June 29 is 47.52%, while its operating margin for the same period stands at -0.80%. Its gross profit as reported stood at $360.45 million compared to revenue of $580.46 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Centennial Resource Development Inc.’s return on assets was -5.20%, compared to -4.4% over the last five years. In the past year, the return on investment has been -15.00%, and the 5-year average is -4.2%. Meanwhile, the return on equity (ROE) for the past 12 months has been -7.70% and the 5-year average holds at -5.9%. For the broader industry, ROE averaged 12.45 over the past year.

Earnings Surprise

The analyst consensus anticipated Centennial Resource Development Inc.’s latest quarter earnings to come in at $0.07 per share, but it turned out to be -$0.09, a -228.60% surprise. For the quarter, EBITDA amounted to $141.57 million. Shareholders own equity worth $279.39 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Centennial Resource Development Inc. (CDEV) price momentum. RSI 9-day as of the close on 05 October was 62.63%, suggesting the stock is Neutral, with historical volatility in this time frame at 67.87%.

As of today, CDEV’s price is $6.98 unch or $unch from its 5-day moving average. CDEV is currently trading +29.12% higher than its 20-day SMA and +57.85% higher than its 100-day SMA. However, the stock’s current price level is +28.38% above the SMA50 and +291.86% above the SMA200.

The stochastic %K and %D were 79.46% and 87.09%, respectively, and the average true range (ATR) was 0.40. With the 14-day stochastic at 65.63% and the average true range at 0.38, the RSI (14) stands at 63.77%. The stock has reached 0.37 on the 9-day MACD Oscillator while the 14-day reading was at 0.77.

Analyst Ratings

Cowen upgraded Centennial Resource Development Inc. (NASDAQ: CDEV) to a a Market perform rating in its most recent analyst report. Previously, the stock was rated as a an Underperform.The consensus rating for Centennial Resource Development Inc. (CDEV) among analysts is Hold. According to current brokerage recommendations, 3 brokerage firms advise that investors sell CDEV, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 2 others rate it as a “buy”.

What is CDEV’s price target for the next 12 months?

Analysts predict a range of price targets between $4.00 and $9.00, with a median target of $7.00. Taking a look at these predictions, the average price target given by analysts for Centennial Resource Development Inc. (CDEV) stock is $6.75.

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