Centennial Resource Development, Inc. (CDEV), a Energy Oil & Gas E&P corporation, saw its stock exchange 43,946,527 shares, decrease against to its 10-day trading volume of 29.13M. Centennial Resource Development, Inc. (CDEV) stock is changing hands at $0.6150, up 0.0367 cents or +6.35% on the day. Based on this we can see some traders are either waiting on the sidelines to get involved or perhaps some are taking profits. Total Revenue for Centennial Resource Development, Inc. (CDEV) is $944.33M. Gross Profit is $662.32M and the EBITDA is $570.21M.
Centennial Resource Development, Inc. (CDEV) Key Technicals:
The average 10-day trading volume of Centennial Resource Development, Inc. (CDEV) is 29.13M compared to 13.15M over the last 3 months which indicates a higher demand in trading activity. At the time of writing this article, Centennial Resource Development, Inc. (CDEV) has a 50-day moving average of $0.4024 and a 200-day moving average of $2.7305. These moving averages are popular technical indicators that investors use to analyze price trends of Centennial Resource Development, Inc. (CDEV). Approximately 13.52% of the shares of the company are short sold from investors betting the stock might trade lower. The beta value of Centennial Resource Development, Inc. (CDEV) stock is 3.71, indicating its 29.37% to 23.71% more volatile than the overall marketplace. Technically, CDEV’s short term support levels are around $0.41 and $-0.47 on the downside. CDEVs short term resistance levels are $5.05, $4.33 and $3.77 on the upside.
Based on technical analysis, CDEV has short term rating of Neutral (0.06), Intermediate rating of Neutral (-0.20) and the long-term rating of Bearish (-0.33) giving it an overall rating of Neutral (-0.16). CDEV is trading 161.48% off its 52 week low at $0.24 and -94.38% off its 52 week high of $10.94. Performance wise, CDEV stock has recently shown investors 112.44% a higher demand in a week, 53.75% a higher demand in a month and -82.96% decrease in the past quarter. On the flip side, Centennial Resource Development, Inc. (CDEV) has shown a return of -86.69% since the first of the year.
Centennial Resource Development, Inc. (CDEV) Key Statistics:
Centennial Resource Development, Inc. (CDEV) is a micro-cap company with a market cap value of $170.389M. CDEV insiders hold roughly 1.95% of the shares. On Mar-19-20 Credit Suisse Resumed CDEV as Neutral at $1. On Mar-24-20 Barclays Downgrade CDEV as Equal Weight → Underweight and on Apr-07-20 Scotiabank Downgrade CDEV as Sector Perform → Sector Underperform.
There are currently 183.28M shares in the float and 210.90M shares outstanding. There are 13.52% shares short in CDEVs float. The industry rank for Centennial Resource Development, Inc. (CDEV) is 134 out of 252 ranking it at the Bottom 47% .
Centennial Resource Development, Inc. (CDEV) Key Fundamentals:
CDEV last 2 years revenues have increased from $944,330 to $944,330 showing an uptrend. Wall Street expects Centennial Resource Development, Inc. (CDEV) to report an EPS next Qtr loss of -0.06 and a profit of 57.00% next year. The growth rate on CDEV this year is -1,033.33 compared to an industry -38.80. CDEVs next year’s growth rate is -25.00 compared to an industry -1.00. The book value per share (mrq) is 11.82 and cash per share (mrq) is 0.05. Giving them a price/book (mrq) of 0.05 compared to an industry of 0.37 and CDEVs price/cash flow (mrfy) is 0.34 compared to an industry of 0.78. CDEV fundamental ratios shows an EPS growth vs. previous year -0.56 and EPS growth vs. previous quarter -0.05.
About Centennial Resource Development, Inc. (CDEV):
Denver, CO-based Centennial Resource Development, Inc. is an independent oil and gas exploration and production company. It primarily develops unconventional hydrocarbon reserves in the Delaware Basin, a part of the prolific Permian Basin. The pure-play Permian Basin producer has presence in the Reeves County in West Texas and Lea County in New Mexico. Notably, the company was formed in 2016.Centennial has 93% operating interest in 78,195 net acres — which were leased or acquired by the upstream energy company as of Dec 31, 2019 — in the basin. It has significant amount of drilling locations in the region that enable the company to secure incremental production volumes. While around 76% of the company’s total acreage is in Southern Delaware, TX, the remaining 24% is in the Northern Delaware, NM.As of Dec 31, 2019, Centennial’s total proved reserves of 301 million barrels of oil equivalent increased 15% year over year. Of the total proved reserves, oil contributed 50%, while natural gas and natural gas liquids accounted for 28% and 22%, respectively. Notably, its organic reserve replacement ratio was 243%.The company’s net production in 2019 was recorded at 76,072 barrels of oil equivalent per day, of which oil contributed 56.1%, and natural gas and natural gas liquids accounted for the rest.The Permian ‘Super’ Basin A sedimentary basin lying underneath the western part of Texas and southeastern New Mexico, the Permian Basin shale covers roughly 75,000 square miles, almost half the size of California.According to business information provider IHS Markit, the Permian play is estimated to hold a staggering 60-70 billion barrels of recoverable crude oil. Oil production in this unconventional play continues to set records and currently churns out more than 4 million barrels a day, according to data from the Department of Energy. Primarily owing to the Permian shale, the United States has turned into the world’s biggest oil producer, ahead of Russia and Saudi Arabia.