Does Centennial Resource Development (CDEV) Look Attractive Now? Stephens Initiates Coverage

Why Has Stephens Given Centennial Resource Development (CDEV) a $23.0 Price Target

Equities researchers at Stephens issued a key “Equal-Weight” rating for Centennial Resource Development (CDEV). The firm has begun coverage in a report released on 6 December. The target gives upside of 18.37 % from the previous close.

Centennial Resource Development, Inc. (NASDAQ:CDEV) Ratings Coverage

Among 7 analysts covering Centennial Resource Dev (CDEV), 6 have Buy rating, 0 Sell and 1 Hold. Therefore 86% are positive. Centennial Resource Dev has $2700 highest and $20 lowest target. $23.57’s average target is 56.72% above currents $15.04 stock price. Centennial Resource Dev had 9 analyst reports since June 15, 2018 according to SRatingsIntel. The firm has “Overweight” rating by Barclays Capital given on Friday, November 16. SunTrust upgraded the shares of CDEV in report on Friday, September 7 to “Buy” rating. The firm has “Buy” rating given on Sunday, November 25 by Stifel Nicolaus.

The stock decreased 5.82% or $0.93 during the last trading session, reaching $15.04. About 4.48 million shares traded or 69.61% up from the average. Centennial Resource Development, Inc. (CDEV) has risen 20.32% since December 7, 2017 and is uptrending. It has outperformed by 4.70% the S&P500.

Analysts await Centennial Resource Development, Inc. (NASDAQ:CDEV) to report earnings on February, 25. They expect $0.23 earnings per share, up 109.09 % or $0.12 from last year’s $0.11 per share. CDEV’s profit will be $60.77M for 16.35 P/E if the $0.23 EPS becomes a reality. After $0.18 actual earnings per share reported by Centennial Resource Development, Inc. for the previous quarter, Wall Street now forecasts 27.78 % EPS growth.

Centennial Resource Development, Inc., together with its subsidiary, Centennial Resource Production, LLC, operates as an independent oil and natural gas firm in the United States. The company has market cap of $3.97 billion. It focuses on the development of unconventional oil and associated natural gas reserves located in Reeves, Ward, and Pecos counties, West Texas. It has a 19.97 P/E ratio. The firm was formerly known as Silver Run Acquisition Corporation and changed its name to Centennial Resource Development, Inc. in October 2016.

More notable recent Centennial Resource Development, Inc. (NASDAQ:CDEV) news were published by: Globenewswire.com which released: “Centennial Resource Development to Participate in Upcoming Energy Conferences – GlobeNewswire” on May 14, 2018, also Globenewswire.com with their article: “Centennial Resource Development, Inc. Announces Third Quarter 2018 Earnings Conference Call – GlobeNewswire” published on October 19, 2018, Seekingalpha.com published: “Centennial Resource Development, Inc. (CDEV) CEO Mark Papa on Q3 2018 Results – Earnings Call Transcript – Seeking Alpha” on November 06, 2018. More interesting news about Centennial Resource Development, Inc. (NASDAQ:CDEV) were released by: Seekingalpha.com and their article: “Centennial Resource Development Marches Towards 65,000 Barrels Of Oil Per Day – Seeking Alpha” published on September 19, 2018 as well as Nasdaq.com‘s news article titled: “Centennial Resource Development Announces Third Quarter 2018 Financial and Operational Results – Nasdaq” with publication date: November 05, 2018.

Centennial Resource Development, Inc. (NASDAQ:CDEV) Ratings Chart

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