VP, CFO Glyphis George S. acquired 15,000 shares in Centennial Resource Development, Inc. (NASDAQ:CDEV) for $105,230 in transaction occurred on 2018/06/04. After making this transaction, the VP, CFO owns a direct stake of 251,850 shares, worth $1,390,088, as per the last closing price. On 2018/05/25 Jensen Brent P, VP, Chief Accounting Officer at CDEV, purchased 4,500 shares at an average price of $17.75 per share. The new stake is valued at $1,204,792.
Separately, it had been reported that some other CDEV insiders also took part of the insider trading activity. Director, 10% Owner, Rel Us Centennial Holdings, Ll had divested 21,505,417 shares for $78,131,768 through a trade on 2018/03/08. Following this activity, the insider holds 419,000,000 shares worth $1,030,000,000 as of recent close. Wall Street’s most bullish Centennial Resource Development, Inc. (NASDAQ:CDEV) analysts are predicting the share price to blow past $32 per share during the next 12 months. The current median share price forecast by them is $20, suggesting that the stock could increase 51.4% in that time frame. The average price target of $20.61 calls for a nearly 56.02% increase in the stock price.
Centennial Resource Development, Inc. (NASDAQ:CDEV) reaches $3.49B market cap as shares retreated -0.08% in recent session. It closed at $13.21, after slipping as low as $13.03 through the day. The shares were pushed to an intraday high Thursday at $13.41. Trading activity significantly improved as the volume at ready counter increased to 3,892,161 shares versus 3,871,705 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 3,646,371 shares. The stock is now 33.84% above against its bear-market low of $9.87 on December 24, 2018. It has retreated -75.02% since it’s 52-week high of $23.12 reached in October. Now the market price is down -34.18% on the year and up 19.87% YTD.
CDEV’s 50 day simple moving average (SMA 50) price is $14.98 and its 200-day simple moving average (SMA 200) price is $17.82. The company’s stock currently has a total float of 169.57M shares. Its weekly volatility is hovering around 5.09% and felt 6.25% volatility in price over a month. On the upside, the share price will test short term resistance at around $13.4. On a downside, the stock is likely to find some support, which begins at $13.02. The failure to get near-term support could push it to $12.84.
It had seen a negative analyst call from BofA/Merrill, which downgraded the stock from Buy to Neutral on January 04. Analysts at Macquarie, started covering the stock on December 20 with a Outperform rating. Analysts at KeyBanc Capital Mkts, made their first call about the stock on December 20, recommending it is Sector Weight. Tudor Pickering analysts came out with bearish views on December 14 when the call was made. They think the stock is now Hold compared to to their prior call for Buy.
When looking at valuations, Centennial Resource Development, Inc. (CDEV) has a pricey P/E of 18.15x as compared to industry average of 15.99x. Moreover, it trades for 15.78 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.14x price/book and 4.18x price/sales. Compared to others, Centennial Resource Development, Inc. is in a different league with regards to profitability, having net margins of 23.9%. To put some perspective around this, the industry’s average net margin is 5.84%. CDEV’s ROE is 6.7%, which is also considerably better than the industry’s ROE of 5.68%. It’s also not liquid in the near term, with a current ratio of 0.8. The stock has a debt/capital of 0.17.
Shares of Centennial Resource Development, Inc. (CDEV) have dropped -34.5% since the company’s Mar-19 earnings report. Over the past 7 fiscal quarters, Centennial Resource Development, Inc. (NASDAQ:CDEV) has topped consensus earnings estimates in 6 quarters (60%), missed earnings in 1 quarters (10%), whereas at 0 occasion EPS met analyst expectations. CDEV last reported earnings on November 05, 2018 when it released Sep-18 results that receded expectations. The company raked in $0.17 per share, -99.02% change on the same period last year. That was worse than consensus for $0.21. Revenue for the recent quarter stood at $234.88 million, up 110% on last year and below the $243.6 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $199 million to $303.57 million, which should be compared with $259.67 million generated last year. EPS is seen in a range of 0 to $0.29, against the $0.26 reported a year ago.