Centennial Resource Development Inc. (CDEV) picks momentum as shares drop -5.85%

Centennial Resource Development Inc. (NASDAQ: CDEV) is -81.39% lower on its value in year-to-date trading and has touched a low of $0.24 and a high of $6.23 in the current 52-week trading range. The CDEV stock was last observed hovering at around $0.86 in the last trading session, with the day’s loss setting it 0.0% off its average median price target of $0.98 for the next 12 months. It is also 71.33% off the consensus price target high of $3.00 offered by 20 analysts, but current levels are -72.0% lower than the price target low of $0.50 for the same period.

Currently trading at $0.86, the stock is 0.21% and -18.17% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.06 million and changing -0.06% at the moment leaves the stock -60.25% off its SMA200. CDEV registered -84.31% loss for a year compared to 6-month loss of -75.00%. The firm has a 50-day simple moving average (SMA 50) of $1.0080 and a 200-day simple moving average (SMA200) of $1.4305.

The stock witnessed a -6.43% gain in the last 1 month and extending the period to 3 months gives it a 8.72%, and is -5.85% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.96% over the week and 10.35% over the month.

Centennial Resource Development Inc. (CDEV) has around 195 employees, a market worth around $243.00M and $922.50M in sales. Distance from 52-week low is 265.43% and -86.20% from its 52-week high. The company has generated returns on investments over the last 12 months (1.70%).

Centennial Resource Development Inc. (CDEV) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Centennial Resource Development Inc. (CDEV) is a “Hold”. 20 analysts offering their recommendations for the stock have an average rating of 3.10, where 9 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 6 analysts have rated the stock as a Sell or Underperform.

Centennial Resource Development Inc. is expected to release its quarterly report on 08/03/2020 and quarterly earnings per share for the current quarter are estimated at -$0.28 with sales reaching $81.41M over the same period.The EPS is expected to shrink by -92.20% this year, but quarterly earnings will post -47.50% year-over-year. Quarterly sales are estimated to shrink -65.80% in year-over-year returns.

Centennial Resource Development Inc. (CDEV) Top Institutional Holders

244 institutions hold shares in Centennial Resource Development Inc. (CDEV), with 5.46M shares held by insiders accounting for 1.97% while institutional investors hold 109.23% of the company’s shares. The shares outstanding are 275.95M, and float is at 171.43M with Short Float at 10.77%. Institutions hold 107.08% of the Float.

The top institutional shareholder in the company is Riverstone Holdings LLC with over 70.27 million shares valued at $18.48 million. The investor’s holdings represent 25.36% of the CDEV Shares outstanding. As of Mar 30, 2020, the second largest holder is FMR, LLC with 23.98 million shares valued at $6.31 million to account for 8.65% of the shares outstanding. The other top investors are Prescott Group Capital Management, L.L.C. which holds 23.62 million shares representing 8.52% and valued at over $6.21 million, while Vanguard Group, Inc. (The) holds 7.18% of the shares totaling 19.9 million with a market value of $5.23 million.

Centennial Resource Development Inc. (CDEV) Insider Activity

A total of 49 insider transactions have happened at Centennial Resource Development Inc. (CDEV) in the last six months, with sales accounting for 17 and purchases happening 32 times. The most recent transaction is an insider purchase by REL US Centennial Holdings, LL, the company’s Director. SEC filings show that REL US Centennial Holdings, LL bought 25,000 shares of the company’s common stock on Jun 04 at a price of $1.06 per share for a total of $26548.0. Following the purchase, the insider now owns 91.32 million shares.

Centennial Resource Development Inc. disclosed in a document filed with the SEC on Jun 04 that Riverstone Non-ECI USRPI AIV, (Director) bought a total of 25,000 shares of the company’s common stock. The trade occurred on Jun 04 and was made at $1.06 per share for $26548.0. Following the transaction, the insider now directly holds 91.32 million shares of the CDEV stock.

Still, SEC filings show that on May 22, Riverstone Non-ECI USRPI AIV, (Director) acquired 3,534,233 shares at an average price of $0.98 for $3.46 million. The insider now directly holds 91,299,941 shares of Centennial Resource Development Inc. (CDEV).

Centennial Resource Development Inc. (CDEV): Who are the competitors?

ProPetro Holding Corp. (PUMP) is -67.37% down on the 1-year trading charts. Short interest in the company’s stock has fallen -38.6% from the last report on Jun 14, 2020 to stand at a total of 25.6 million short shares sold with a short interest ratio of 1.14.