Analysts predict that Centennial Resource Development Inc (NASDAQ:CDEV) will announce sales of $244.39 million for the current quarter, Zacks reports. Eight analysts have issued estimates for Centennial Resource Development’s earnings. The lowest sales estimate is $225.90 million and the highest is $260.00 million. Centennial Resource Development posted sales of $217.76 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.2%. The company is scheduled to announce its next earnings report on Monday, August 5th.

According to Zacks, analysts expect that Centennial Resource Development will report full-year sales of $965.60 million for the current fiscal year, with estimates ranging from $925.83 million to $1.03 billion. For the next financial year, analysts forecast that the business will report sales of $1.11 billion, with estimates ranging from $1.05 billion to $1.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Centennial Resource Development.

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

Several equities analysts have recently weighed in on CDEV shares. Zacks Investment Research raised shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a research note on Wednesday, February 6th. Ifs Securities reissued a “strong-buy” rating on shares of Centennial Resource Development in a research note on Sunday, February 3rd. BidaskClub downgraded shares of Centennial Resource Development from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 12th. BMO Capital Markets downgraded shares of Centennial Resource Development from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $20.00 to $10.00 in a research note on Tuesday, February 26th. Finally, Bank of America set a $15.00 price target on shares of Centennial Resource Development and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Centennial Resource Development currently has an average rating of “Hold” and a consensus target price of $18.63.

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in shares of Centennial Resource Development by 8,160.4% during the first quarter. Morgan Stanley now owns 1,272,013 shares of the oil and natural gas company’s stock valued at $11,181,000 after acquiring an additional 1,256,614 shares during the last quarter. Van Den Berg Management I Inc. increased its position in shares of Centennial Resource Development by 24.9% during the first quarter. Van Den Berg Management I Inc. now owns 264,898 shares of the oil and natural gas company’s stock valued at $2,328,000 after acquiring an additional 52,875 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Centennial Resource Development by 3.5% during the first quarter. Geode Capital Management LLC now owns 2,062,506 shares of the oil and natural gas company’s stock valued at $18,129,000 after acquiring an additional 69,023 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Centennial Resource Development by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,143,326 shares of the oil and natural gas company’s stock valued at $10,050,000 after acquiring an additional 77,093 shares during the last quarter. Finally, Blueshift Asset Management LLC increased its position in shares of Centennial Resource Development by 4.8% during the first quarter. Blueshift Asset Management LLC now owns 33,236 shares of the oil and natural gas company’s stock valued at $292,000 after acquiring an additional 1,513 shares during the last quarter.

Shares of NASDAQ:CDEV traded down $0.28 during midday trading on Friday, hitting $10.04. The company’s stock had a trading volume of 1,293,871 shares, compared to its average volume of 3,478,390. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.79 billion, a P/E ratio of 13.39, a P/E/G ratio of 1.37 and a beta of 1.94. Centennial Resource Development has a 12-month low of $8.28 and a 12-month high of $23.12.

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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