Centennial Resource Development, Inc. (NASDAQ:CDEV) is reporting second quarter financial results on Monday 3rd August 2020, after market close.
According to analysts surveyed by Thomson Reuters, CDEV is expected to report 2Q20 loss of $ 0.28 per share from revenue of $ 83.91 million.
For the full year, analysts anticipate top line of $ 494.34 million, while looking forward to loss of $ 2.42 per share bottom line.
Previous Quarter Performance
Centennial Resource Development, Inc. posted income for the first quarter of $ 0.23 per share, from the revenue of $ 192.77 million. The quarterly earnings declined 69.49 percent while revenues compared with the same quarter last year.
The consensus estimates are loss of $ 0.07 per share from $ 198.02 million in revenue. The bottom line results beat street analysts by $ 0.3 or 428.57 percent, at the same time, top line results fell short of analysts by $ 5.25 million or 2.65 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of CDEV was $ 0.79, representing a 229.17 % increase from the 52 week low of $ 0.24 and a 87.03 % decrease over the 52 week high of $ 6.09.
The company has a market capital of $ 218.96 million and is part of the Energy sector and Oil & Gas E&P industry.
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Recent Analyst recommendations
- On 13th July 2020, maintained by Scotiabank at Sector Underperform rating, with $ 0.80 target price.
- On 25th June 2020, maintained by Wells Fargo & Co at Equal-Weight rating, with $ 1.25 target price.
- On 11th June 2020, maintained by KeyBanc at Overweight rating, with $ 2.00 target price.
Centennial Resource Development, Inc., an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The companys assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.
