Centennial Resource Development (NASDAQ:CDEV) released its quarterly earnings results on Monday. The oil and natural gas company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01), Morningstar.com reports. The company had revenue of $244.24 million during the quarter, compared to analysts’ expectations of $232.70 million. Centennial Resource Development had a return on equity of 5.04% and a net margin of 14.13%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 EPS.
Shares of CDEV stock traded down $0.49 on Tuesday, hitting $4.76. 7,103,334 shares of the stock traded hands, compared to its average volume of 4,489,262. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.45 billion, a P/E ratio of 6.34, a PEG ratio of 8.94 and a beta of 1.90. Centennial Resource Development has a 1-year low of $5.04 and a 1-year high of $23.12. The stock’s fifty day moving average is $6.71.
Several hedge funds have recently bought and sold shares of CDEV. Norges Bank acquired a new stake in shares of Centennial Resource Development during the 4th quarter valued at approximately $12,791,000. Frontier Capital Management Co. LLC raised its position in shares of Centennial Resource Development by 17.8% during 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 acquiring an additional 764,828 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in shares of Centennial Resource Development during the 2nd quarter valued at approximately $5,312,000. Dimensional Fund Advisors LP raised its position in shares of Centennial Resource Development by 18.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,560,405 shares of the oil and natural gas company’s stock valued at $39,235,000 after acquiring an additional 542,778 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Centennial Resource Development by 21.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,670,441 shares of the oil and natural gas company’s stock valued at $23,474,000 after acquiring an additional 478,565 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading: Elliott Wave Theory
Receive News & Ratings for Centennial Resource Development Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centennial Resource Development and related companies with MarketBeat.com's FREE daily email newsletter.