How Analysts Feel About Centennial Resource Development Inc. (CDEV)?

As of Friday close, Centennial Resource Development Inc.’s (NASDAQ:CDEV) stock was up $0.45, moving up 6.44 percent to $7.44. The average number of shares traded per day over the past five days has been 9,914,460 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.66 fall in that time frame. In the last twenty days, the average volume was 9,741,410, while in the previous 50 days, it was 10,588,978.


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Since last month, CDEV stock retreated -19.48%. Shares of the company fell to $6.72 on 05/12/22, the lowest level in the past month. A 52-week high of $9.58 was reached on 04/18/22 after having rallying from a 52-week low of $3.90. Since the beginning of this year, CDEV’s stock price has risen by 24.41% or $1.46, and marked a new high 18 times. However, the stock has declined by -22.34% since its 52-week high.

Centennial Resource Development Inc. (CDEV) last reported insider trading activity 67 days ago on Mar 08. Silver Run Sponsor, LLC, the Director of the company, disposed of 307,704 shares for $9.13 on Mar 08. It resulted in a $2,810,568 divestment by the insider. REL US Centennial Holdings, LL sold 307,704 shares at an average price of $9.13 on Mar 08. The insider now owns 72,547,670 shares following the transaction. On Mar 08, Director Riverstone Non-ECI USRPI AIV, sold 307,704 shares at $9.13 apiece. The transaction was valued at $2,810,568.

Valuation Metrics

Right now, Centennial Resource Development Inc. (CDEV) has a P/E ratio of about 15.56. The stock’s beta is 5.24. Besides these, the trailing price-to-sales (P/S) ratio of 1.74, the price-to-book (PB) ratio of 0.77, and the price-to-cash flow ratio of 5.53 may also be considered.

Financial Health

In the three months ended September 29, Centennial Resource Development Inc.’s quick ratio stood at 0.50, while its current ratio was 0.50, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.30, and the total debt-to-equity ratio was 0.30. On the profitability front, the trailing twelve-month gross margin is 84.10% percent. In the year ended September 29, operating margins totaled 10.40%. Based on annual data, CDEV earned $770.44 million in gross profit and brought in $1.03 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 8.60%. Return on equity (ROE) for the past 12 months was -4.30%.

In Centennial Resource Development Inc.’s quarter-end financial report for September 29, it reported total debt of $801.2 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CDEV’s revenue rose 44.6% to $316.42 million during the quarter, while net income inched up to $347.28 million. While analysts expected Centennial Resource Development Inc. to report $0.19 quarterly earnings, the actual figure was $0.12 per share, beating the consensus estimate by -36.80%. During the quarter, the company generated $237.64 million in EBITDA. The liabilities of Centennial Resource Development Inc. were 1.19 billion at the end of its most recent quarter ended September 29, and its total debt was $1.02 billion. The value of shareholders’ equity is $284.99 million.

Technical Picture

This quick technical analysis looks at Centennial Resource Development Inc.’s (CDEV) price momentum. With a historical volatility rate of 97.64%, the RSI 9-day stood at 43.98% on 13 May.

With respect to its five-day moving average, the current Centennial Resource Development Inc. price is down by -8.15% percent or -$0.66. At present, CDEV shares trade -20.85% below its 20-day simple moving average and +28.28% percent above its 100-day simple moving average. However, the stock is currently trading approximately -11.32% below its SMA50 and +38.55% above its SMA200.

Stochastic coefficient K was 26.11% and Stochastic coefficient D was 16.81%, while ATR was 0.58. Given the Stochastic reading of 44.07% for the 14-day period, the RSI (14) reading has been calculated as 43.63%. As of today, the MACD Oscillator reading stands at -0.36, while the 14-day reading stands at -0.47.

Analyst Ratings

Piper Sandler upgraded its rating on Centennial Resource Development Inc. (NASDAQ: CDEV) to an Overweight in a note to investors on April 07, 2022. The analysts firm previously had a Neutral rating on the stock.Centennial Resource Development Inc. (CDEV) has been rated Hold by analysts. According to 1 brokerage firm, CDEV is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Centennial Resource Development Inc. stock as buy, with 3 recommending it as overweight.

With a median target price of $11.00, the current consensus forecast for the stock is $9.00 – $14.00. Based on these forecasts, analysts predict Centennial Resource Development Inc. (CDEV) will achieve an average price target of $10.88.

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