Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Centennial Resource Development (CDEV) Stock Price
Media headlines about Centennial Resource Development (NASDAQ:CDEV) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group identifies negative and positive news coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Centennial Resource Development earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned press coverage about the oil and natural gas company an impact score of 48.448064260195 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Here are some of the media headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Centennial Resource Development Inc (CDEV) Expected to Post Quarterly Sales of $223.38 Million (americanbankingnews.com)
- Brent P. Jensen Buys 4,500 Shares of Centennial Resource Development Inc (CDEV) Stock (americanbankingnews.com)
- $0.20 Earnings Per Share Expected for Centennial Resource Development Inc (CDEV) This Quarter (americanbankingnews.com)
- Centennial Resource Dev (CDEV) Short Interest Update (americanbankingnews.com)
- Centennial Resource Dev (CDEV) Downgraded to “Hold” at National Alliance Securities (americanbankingnews.com)
Shares of Centennial Resource Development opened at $17.60 on Friday, MarketBeat reports. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 62.86, a price-to-earnings-growth ratio of 0.50 and a beta of 1.61. Centennial Resource Development has a 52 week low of $14.10 and a 52 week high of $22.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.92.
Several research firms have issued reports on CDEV. BidaskClub downgraded Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Friday, May 25th. National Alliance Securities downgraded Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Friday, May 25th. UBS Group began coverage on shares of Centennial Resource Development in a research report on Wednesday, March 7th. They set a “buy” rating and a $24.00 target price for the company. ValuEngine upgraded shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a research report on Wednesday, April 18th. Finally, BMO Capital Markets upgraded shares of Centennial Resource Development from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Tuesday, March 13th. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $24.12.
In other news, VP Brent P. Jensen acquired 4,500 shares of the stock in a transaction that occurred on Friday, May 25th. The stock was acquired at an average price of $17.75 per share, for a total transaction of $79,875.00. Following the transaction, the vice president now directly owns 91,203 shares in the company, valued at $1,618,853.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $19.50, for a total transaction of $419,355,631.50. The disclosure for this sale can be found here. 44.70% of the stock is owned by corporate insiders.
About Centennial Resource Development
Centennial Resource Development, Inc, together with its subsidiary, Centennial Resource Production, LLC, operates as an independent oil and natural gas company in the United States. It focuses on the development of unconventional oil and associated liquids-rich natural gas reserves located in the Permian Basin.
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