What is Centennial Resource Development Inc. (CDEV) Price Targets?

Centennial Resource Development Inc. (NASDAQ:CDEV) saw an upside of 0.99% to close Friday at $7.16 after adding $0.07 on the day. The 5-day average trading volume is 7,765,680 shares of the company’s common stock. It has gained $7.57 in the past week. An average of 7,356,030 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,875,092.

CDEV’s 1-month performance is 36.38% or $1.94 on its low of $5.05 reached on 09/09/21. The company’s shares have touched a 52-week low of $0.53 and high of $7.57, with the stock’s rally to the 52-week high happening on 10/05/21. YTD, CDEV has achieved 377.33% or $5.66. However, the current price is down -5.42%% from the 52-week high price.

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Insider Transactions

On Oct 05, 6 days have gone by since the last insider trading activity for Centennial Resource Development Inc. (CDEV). Jensen Brent P (SVP, Chief Accounting Officer) most recently sold 6,338 shares at $7.50 per share on Oct 05. This transaction cost the insider $47,535. SVP, Chief Accounting Officer, Jensen Brent P, sold 22,120 shares at a price of $7.21 on Oct 04. Then, on Oct 01, SVP, Chief Accounting Officer Jensen Brent P sold 9,140 shares at a price of $7.00 per share. This transaction amounted to $63,980.

Valuation Metrics

Centennial Resource Development Inc. (CDEV) has a trailing price-to-earnings (P/E) ratio of 18.90 for the broader industry and 19.33 for the sector. The company’s PE ratio for the last five years has touched a high of 150.14 and a low of 4.413. CDEV stock has a beta of 6.27. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.74 while the price-to-book (PB) in the most recent quarter is 0.79, with the price to cash flow ratio at 7.45.

Centennial Resource Development Inc.’s quick ratio for the period ended June 29 was 0.50, with the current ratio over the same period at 0.50 meaning that CDEV stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.42, while the total debt to equity was 0.42. In terms of profitability, the gross margin trailing 12 months is 79.90%. The trailing 12-month EBITDA margin is 47.52% while for the period ending June 29; Centennial Resource Development Inc.’s operating margin was -0.80%. The firm’s gross profit as reported stood at $360.45 million against revenue of $580.46 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected CDEV to announce $0.07 per share in earnings in its latest quarter, but it posted -$0.09, representing a -228.60% surprise. EBITDA for the quarter stood at more than $141.57 million. CDEV stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 1.34 billion, with total debt at $1.07 billion. Shareholders hold equity totaling $279.39 million

Technical Picture

Let’s look briefly at Centennial Resource Development Inc. (CDEV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 71.01% to suggest the stock is trending Overbought, with historical volatility in this time period at 51.17%.

The stock’s 5-day moving average is $7.09, reflecting a +1.99% or $0.14 change from its current price. CDEV is currently trading +36.64% above its 20-day SMA, +58.06% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +33.33% and +358.97% respectively.

Stochastic %K and %D was 77.09% and 78.25% and the average true range (ATR) pointed at 0.42. The RSI (14) points at 69.47%, while the 14-day stochastic is at 83.02% with the period’s ATR at 0.39. The stock’s 9-day MACD Oscillator is pointing at 0.09 and 0.48 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Centennial Resource Development Inc. (NASDAQ: CDEV), Cowen upgraded it to a Market perform rating. They previously had an Underperform rating on the stock. Analysts offering their rating for CDEV stock have a consensus rating for the stock as Hold. Currently, 3 brokerage advisors rate CDEV as a “sell,”, while 9 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 2 have offered a “buy” rating.

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

Analysts have a consensus price target ranging from a low of $4.00 and a high of $9.00, with their median price target at $7.00. Looking at these predictions, the average price target given by analysts is for Centennial Resource Development Inc. (CDEV) stock is $6.82.


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