The stock of Centennial Resource Development Inc. (NASDAQ:CDEV) increased by increased by $0.54 on Friday to finish at $7.20, up 8.11 percent. The last five days have seen an average of 5,212,300 shares of common stock traded. 36 times new highs were reached in the current year, with a gain of $5.70. The average number of shares traded over the last 20 days was 6,828,295, while the average volume over the last 50 days totaled 6,535,814.
CDEV stock appreciated 22.24% since last month. On 09/23/21, the company’s shares reached a one-month low of $5.62. The stock touched a high of $7.57 on 10/05/21, after rallying from a low of $0.53 in 52 weeks. The price of CDEV stock has risen by 380.00% or $5.70 this year, reaching a new high 36 times. Still, the stock price is down -4.89% from the 52-week high.
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There have been 7 days since Centennial Resource Development Inc. (CDEV) last reported insider trading activity on Oct 18. On Oct 18, SVP, Chief Accounting Officer Jensen Brent P sold 54,000 shares at $6.93 each. This transaction resulted in the insider making $374,220. On Oct 05, Jensen Brent P sold 6,338 shares at a price of US$7.50. After the transaction, the insider now owns 1,015,606 shares. SVP, Chief Accounting Officer Jensen Brent P had earlier sold 22,120 shares on Oct 04 for $7.21 a share. The transaction was completed for $159,456.
The PE ratio of Centennial Resource Development Inc. has varied between 150.14 and 4.413 in the last five years. Beta for the stock is 6.15. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.58, the price-to-book (PB) ratio of 0.79, and the price-to-cash flow ratio of 7.00.
For the three months ended June 29, Centennial Resource Development Inc.’s quick ratio was 0.50, while its current ratio was 0.50, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.42, and the total debt to equity ratio is 0.42. As far as profitability goes, gross margin for the trailing twelve months is 79.90% percent. Centennial Resource Development Inc.’s operating margin stood at -0.80% for the same period. Based on annual data, it had gross profit of $360.45 million and revenue of $580.46 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CDEV’s return on assets (ROA) during the last 12 months has been -5.20%. There was a -15.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -7.70%. ROE has averaged 12.45 in the past year for the broader industry.
According to Centennial Resource Development Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $232.58 million, while revenues rose by 61.08% to $192.39 million. It was predicted that Centennial Resource Development Inc.’s quarterly earnings would be -$0.09, but it ended up being $0.07, beating the consensus by -228.60%. EBITDA was $141.57 million for the quarter. At the end of Centennial Resource Development Inc.’s most recent quarter ended June 29, its liabilities totaled 1.34 billion, while its total debt was $1.07 billion. Equity owned by shareholders amounts to $279.39 million.
Here’s a quick look at Centennial Resource Development Inc.’s (CDEV) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 63.41%, suggesting the stock is Neutral, with a 51.36% historical volatility rate.
The stochastic %K and %D were 34.35% and 30.48% respectively, while the average true range (ATR) was 0.40. Based on the 14-day stochastic reading of 62.44%, the RSI (14) reading is 63.26%. On the 9-day MACD Oscillator, the stock is at 0.00, and the 14-day reading is at -0.06.
In its most recent analyst report, Cowen raised its rating on Centennial Resource Development Inc. (NASDAQ: CDEV) to a Market perform. Prior to this, analysts firm rated the stock as an Underperform. Analysts have assigned Centennial Resource Development Inc. (CDEV) an Hold rating. CDEV is a stock that is recommended for selling by 3 brokerage firms, while 9 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 2 others recommend it as a buy.
What is CDEV’s price target for the next 12 months?
The current consensus forecast for the stock is between $4.00 and $9.00, with a median target price of $7.50. In analyzing these forecasts, the average price target given by analysts for Centennial Resource Development Inc. (CDEV) is $7.50.