Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Centennial Resource Development (CDEV) Stock Price
News coverage about Centennial Resource Development (NASDAQ:CDEV) has trended somewhat positive on Saturday, according to Accern Sentiment. The research firm identifies positive and negative news coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Centennial Resource Development earned a media sentiment score of 0.04 on Accern’s scale. Accern also gave media headlines about the oil and natural gas company an impact score of 48.2419392189606 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Shares of Centennial Resource Development (CDEV) traded up $0.32 during midday trading on Friday, reaching $20.61. 1,390,000 shares of the company were exchanged, compared to its average volume of 2,320,000. Centennial Resource Development has a 12-month low of $14.10 and a 12-month high of $22.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.43.
A number of brokerages have recently issued reports on CDEV. Wolfe Research began coverage on shares of Centennial Resource Development in a report on Tuesday, November 14th. They issued an “outperform” rating for the company. Scotiabank reiterated a “buy” rating and issued a $22.00 price target on shares of Centennial Resource Development in a report on Tuesday, November 7th. Zacks Investment Research downgraded shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Bank of America began coverage on shares of Centennial Resource Development in a report on Monday, October 16th. They issued a “buy” rating for the company. Finally, Citigroup set a $22.00 price objective on shares of Centennial Resource Development and gave the company a “buy” rating in a research note on Friday, October 13th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.50.
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Centennial Resource Development Company Profile
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.
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