Centennial Res (NASDAQ:CDEV) announced its quarterly earnings data on Monday. The oil and natural gas company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05, Morningstar.com reports. The firm had revenue of $91.06 million for the quarter, compared to analysts’ expectations of $76.03 million.

Centennial Res (CDEV) traded up 10.33% during trading on Tuesday, reaching $17.52. 1,430,509 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $15.60 and its 200-day moving average price is $17.09. Centennial Res has a 52 week low of $11.08 and a 52 week high of $20.97. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 253.91 and a beta of 2.14.

In related news, CFO George S. Glyphis acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were purchased at an average cost of $15.02 per share, with a total value of $150,200.00. Following the completion of the transaction, the chief financial officer now owns 20,490 shares of the company’s stock, valued at approximately $307,759.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 44.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Koch Industries Inc. bought a new position in shares of Centennial Res during the first quarter worth approximately $325,000. Schroder Investment Management Group increased its position in shares of Centennial Res by 0.8% in the first quarter. Schroder Investment Management Group now owns 1,854,732 shares of the oil and natural gas company’s stock worth $33,496,000 after buying an additional 15,334 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Centennial Res by 66.9% in the first quarter. Vanguard Group Inc. now owns 7,747,736 shares of the oil and natural gas company’s stock worth $141,241,000 after buying an additional 3,106,958 shares during the last quarter. TD Asset Management Inc. bought a new position in shares of Centennial Res during the first quarter worth approximately $42,417,000. Finally, Bank of Montreal Can bought a new position in shares of Centennial Res during the first quarter worth approximately $586,000.

ILLEGAL ACTIVITY WARNING: “Centennial Res (CDEV) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS” was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/08/centennial-res-cdev-releases-quarterly-earnings-results-beats-estimates-by-0-05-eps.html.

CDEV has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Centennial Res in a research note on Wednesday, April 12th. They set a “buy” rating and a $24.00 price objective on the stock. Citigroup Inc. initiated coverage on shares of Centennial Res in a research note on Monday, May 1st. They set a “buy” rating and a $21.00 price objective on the stock. BMO Capital Markets set a $17.00 price objective on shares of Centennial Res and gave the company a “hold” rating in a research note on Monday, June 26th. Zacks Investment Research downgraded shares of Centennial Res from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Scotiabank reissued an “outperform” rating and set a $21.00 price objective on shares of Centennial Res in a research note on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $22.09.

About Centennial Res

Centennial Resource Development, Inc is an independent oil and natural gas company. The Company is focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.

Receive News & Ratings for Centennial Res Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centennial Res and related companies with MarketBeat.com's FREE daily email newsletter.