Q2 2019 EPS Estimates for Centennial Resource Development Inc Cut by SunTrust Banks (NASDAQ:CDEV)

Centennial Resource Development Inc (NASDAQ:CDEV) – Equities research analysts at SunTrust Banks dropped their Q2 2019 earnings per share estimates for Centennial Resource Development in a research report issued on Thursday, July 18th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will earn $0.06 per share for the quarter, down from their prior forecast of $0.10. SunTrust Banks currently has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Centennial Resource Development’s Q4 2019 earnings at $0.10 EPS, Q1 2020 earnings at $0.12 EPS, Q2 2020 earnings at $0.11 EPS, Q3 2020 earnings at $0.12 EPS, Q4 2020 earnings at $0.12 EPS, FY2020 earnings at $0.47 EPS, Q1 2021 earnings at $0.12 EPS, Q2 2021 earnings at $0.11 EPS and FY2021 earnings at $0.45 EPS.

Centennial Resource Development (NASDAQ:CDEV) last issued its quarterly earnings data on Monday, May 6th. The oil and natural gas company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. Centennial Resource Development had a return on equity of 5.04% and a net margin of 14.13%. The company had revenue of $214.57 million during the quarter, compared to analyst estimates of $211.08 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Centennial Resource Development’s revenue was down .6% on a year-over-year basis.

A number of other analysts also recently weighed in on CDEV. TD Securities dropped their target price on Great Canadian Gaming from C$62.00 to C$56.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Barclays restated a “sell” rating on shares of RenaissanceRe in a research report on Tuesday, July 2nd. Jefferies Financial Group set a $189.00 target price on salesforce.com and gave the stock a “buy” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. boosted their target price on Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a “neutral” rating in a research report on Friday, June 7th. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Centennial Resource Development presently has an average rating of “Hold” and an average price target of $16.82.

NASDAQ:CDEV opened at $6.24 on Friday. The stock has a 50 day moving average price of $7.23. The company has a market cap of $1.69 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 8.60 and a beta of 1.92. Centennial Resource Development has a 1-year low of $5.93 and a 1-year high of $23.12. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.27.

Several institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. grew its stake in Centennial Resource Development by 142.6% in the 4th quarter. Prudential Financial Inc. now owns 35,900 shares of the oil and natural gas company’s stock valued at $396,000 after buying an additional 21,100 shares during the last quarter. BlackRock Inc. grew its stake 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 buying an additional 568,155 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Centennial Resource Development by 19.2% in the 4th quarter. Bank of New York Mellon Corp now owns 825,853 shares of the oil and natural gas company’s stock valued at $9,101,000 after buying an additional 132,873 shares during the last quarter. Northern Trust Corp grew its stake in Centennial Resource Development by 1.0% in the 4th quarter. Northern Trust Corp now owns 1,130,234 shares of the oil and natural gas company’s stock valued at $12,454,000 after buying an additional 10,814 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in Centennial Resource Development by 27.0% in the 4th quarter. Great West Life Assurance Co. Can now owns 18,257 shares of the oil and natural gas company’s stock valued at $194,000 after buying an additional 3,879 shares during the last quarter. Institutional investors own 99.38% of the company’s stock.

Centennial Resource Development Company Profile

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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Earnings History and Estimates for Centennial Resource Development (NASDAQ:CDEV)

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