Wall Street brokerages expect that Centennial Resource Development Inc (NASDAQ:CDEV) will report earnings per share (EPS) of $0.13 for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Centennial Resource Development’s earnings. The lowest EPS estimate is $0.06 and the highest is $0.20. Centennial Resource Development reported earnings per share of $0.24 during the same quarter last year, which suggests a negative year over year growth rate of 45.8%. The business is expected to issue its next earnings report on Monday, August 5th.
On average, analysts expect that Centennial Resource Development will report full-year earnings of $0.43 per share for the current year, with EPS estimates ranging from $0.19 to $0.65. For the next year, analysts anticipate that the business will post earnings of $0.74 per share, with EPS estimates ranging from $0.32 to $1.58. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Centennial Resource Development.
Centennial Resource Development (NASDAQ:CDEV) last released its quarterly earnings data on Monday, May 6th. The oil and natural gas company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.04. The firm had revenue of $214.57 million for the quarter, compared to analyst estimates of $211.08 million. Centennial Resource Development had a net margin of 22.43% and a return on equity of 6.51%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Centennial Resource Development by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,754,084 shares of the oil and natural gas company’s stock worth $344,226,000 after buying an additional 370,395 shares during the period. BlackRock Inc. boosted its holdings in Centennial Resource Development by 7.2% in the 4th quarter. BlackRock Inc. now owns 8,453,179 shares of the oil and natural gas company’s stock valued at $93,155,000 after purchasing an additional 568,155 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Centennial Resource Development by 56.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,574,473 shares of the oil and natural gas company’s stock valued at $49,003,000 after purchasing an additional 2,014,068 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Centennial Resource Development by 17.8% in the 1st quarter. Frontier Capital Management Co. LLC now owns 5,066,515 shares of the oil and natural gas company’s stock valued at $44,535,000 after purchasing an additional 764,828 shares during the period. Finally, Lord Abbett & CO. LLC boosted its holdings in Centennial Resource Development by 12.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 3,274,343 shares of the oil and natural gas company’s stock valued at $36,083,000 after purchasing an additional 364,753 shares during the period.
Shares of CDEV traded down $0.12 during mid-day trading on Friday, hitting $9.98. 3,110,800 shares of the company’s stock were exchanged, compared to its average volume of 3,522,433. Centennial Resource Development has a twelve month low of $8.28 and a twelve month high of $23.12. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.68 and a beta of 1.94. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.21.
About Centennial Resource Development
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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