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Centennial Resource Development Inc. (CDEV) Volatility At 8.33%, Should You Add A Position?

127 institutions hold shares in Centennial Resource Development Inc. (CDEV), with 12.54M shares held by insiders accounting for 4.70% while institutional investors hold 62.43% of the company’s shares. The shares outstanding are 278.36M, and float is at 181.96M with Short Float at 5.40%. Institutions hold 59.49% of the Float.

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The top institutional shareholder in the company is Riverstone Holdings LLC with over 83.46 million shares valued at $125.19 million. The investor’s holdings represent 29.90% of the CDEV Shares outstanding. As of Dec 30, 2020, the second largest holder is Prescott Group Capital Management, L.L.C. with 10.27 million shares valued at $15.41 million to account for 3.68% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 9.86 million shares representing 3.53% and valued at over $14.78 million, while Renaissance Technologies, LLC holds 2.66% of the shares totaling 7.42 million with a market value of $11.12 million.

Centennial Resource Development Inc. (NASDAQ: CDEV) is 198.67% higher on its value in year-to-date trading and has touched a low of $0.24 and a high of $6.25 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CDEV stock was last observed hovering at around $4.20 in the last trading session, with the day’s gains setting it 0.28% off its average median price target of $5.00 for the next 12 months. It is also 40.27% off the consensus price target high of $7.50 offered by 15 analysts, but current levels are -348.0% lower than the price target low of $1.00 for the same period.

Currently trading at $4.48, the stock is -4.41% and 17.22% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.44 million and changing 6.67% at the moment leaves the stock 162.51% off its SMA200. CDEV registered 1711.56% gain for a year compared to 6-month gain of 643.69%. The firm has a 50-day simple moving average (SMA 50) of $4.3888 and a 200-day simple moving average (SMA200) of $2.1408.

The stock witnessed a -3.45% loss in the last 1 month and extending the period to 3 months gives it a 187.18%, and is 7.69% up 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 8.33% over the week and 11.42% over the month.

Centennial Resource Development Inc. (CDEV) has around 151 employees, a market worth around $1.17B and $580.50M in sales. Fwd P/E is 14.36. Distance from 52-week low is 1804.76% and -28.32% from its 52-week high. The company has generated returns on investments over the last 12 months (-15.00%).

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”. 15 analysts offering their recommendations for the stock have an average rating of 3.10, where 8 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 4 analysts have rated the stock as a Sell or Underperform.

Centennial Resource Development Inc. is expected to release its quarterly report on 08/09/2021 and quarterly earnings per share for the current quarter are estimated at -$0.01 with sales reaching $153.79M over the same period.The EPS is expected to grow by 104.10% this year, but quarterly earnings will post 22.30% year-over-year. Quarterly sales are estimated to shrink -20.20% in year-over-year returns.

Centennial Resource Development Inc. (CDEV) Insider Activity

A total of 16 insider transactions have happened at Centennial Resource Development Inc. (CDEV) in the last six months, with sales accounting for 11 and purchases happening 5 times. The most recent transaction is an insider sale by Riverstone Non-ECI USRPI AIV, , the company’s Director. SEC filings show that Riverstone Non-ECI USRPI AIV, sold 3,356,280 shares of the company’s common stock on Mar 05 at a price of $5.60 per share for a total of $18.8 million. Following the sale, the insider now owns 87.97 million shares.

Centennial Resource Development Inc. disclosed in a document filed with the SEC on Mar 05 that Silver Run Sponsor, LLC (Director) sold a total of 3,356,280 shares of the company’s common stock. The trade occurred on Mar 05 and was made at $5.60 per share for $18.8 million. Following the transaction, the insider now directly holds 87.97 million shares of the CDEV stock.

Still, SEC filings show that on Mar 05, REL US Centennial Holdings, LL (Director) disposed off 3,356,280 shares at an average price of $5.60 for $18.8 million. The insider now directly holds 87,968,661 shares of Centennial Resource Development Inc. (CDEV).

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

ProPetro Holding Corp. (PUMP) is 399.10% up on the 1-year trading charts. Short interest in the company’s stock has risen 16.6% from the last report on Feb 11, 2021 to stand at a total of 8.19 million short shares sold with a short interest ratio of 0.89.

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