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 company's 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. As of December 31, 2020, it leased or acquired approximately 81,657 net acres; and owned 1,472 net mineral acres in the Delaware Basin. The company was formerly known as Silver Run Acquisition Corporation and changed its name to Centennial Resource Development, Inc. in October 2016. Centennial Resource Development, Inc. was incorporated in 2015 and is headquartered in Denver, Colorado.
IPO Year: 2016
Exchange: NASDAQ
Website: cdevinc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/24/2022 | Hold → Buy | Truist | |
| 7/22/2022 | $12.00 | Buy | Siebert Williams Shank |
| 7/20/2022 | $10.00 | Buy | MKM Partners |
| 7/11/2022 | $11.00 | Equal Weight → Underweight | Wells Fargo |
| 7/6/2022 | $11.00 | Sector Perform → Outperform | RBC Capital Mkts |
| 4/7/2022 | $10.00 → $13.00 | Neutral → Overweight | Piper Sandler |
| 4/1/2022 | $8.40 → $11.20 | Hold → Buy | Stifel |
| 3/14/2022 | $12.00 | Underweight → Equal Weight | Wells Fargo |
| 3/10/2022 | $9.00 → $10.00 | Neutral | Piper Sandler |
| 3/2/2022 | $9.00 → $10.00 | Neutral | JP Morgan |
DENVER, July 22, 2021 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) today announced that Vidisha Prasad has been appointed to its Board of Directors, effective immediately. Ms. Prasad will serve as a member of the Audit Committee and Nominating, Environmental, Social and Governance Committee. Additionally, Karl Bandtel announced his retirement from the Board, also effective today. "We are very excited to welcome Vidisha to our Board of Directors," said Steven Shapiro, Chairman of the Board. "Vidisha's extensive oil and gas experience coupled with her strategic advisory and capital markets expertise will be a valuable asset to Cente
4 - Permian Resources Corp (0001658566) (Issuer)
4 - Permian Resources Corp (0001658566) (Issuer)
4 - Permian Resources Corp (0001658566) (Issuer)
4 - Permian Resources Corp (0001658566) (Issuer)
4 - Permian Resources Corp (0001658566) (Issuer)
4 - Permian Resources Corp (0001658566) (Issuer)
4 - Permian Resources Corp (0001658566) (Issuer)
4 - Permian Resources Corp (0001658566) (Issuer)
4 - Permian Resources Corp (0001658566) (Issuer)
4 - Permian Resources Corp (0001658566) (Issuer)
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8-K - Centennial Resource Development, Inc. (0001658566) (Filer)
DEFA14A - Centennial Resource Development, Inc. (0001658566) (Filer)
DENVER, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) today announced second quarter 2022 financial and operational results. Second Quarter Financial and Operational Highlights Reported strong net cash flow from operationsGenerated record free cash flow1Ended the quarter with approximately $200 million of cashIncreased daily crude oil production 12% compared to the prior quarterDelivered four out of the top ten wells in Company historyReduced LOE per unit costs by 13% compared to the prior quarterSignificantly reduced leverage1 quarter-over-quarterAnnounced transformational merger of equals with Colgate Energy Finan
DENVER, July 26, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) announced today that it will report second quarter 2022 financial and operating results after the market closes for trading on August 3, 2022. Management will host an earnings conference call on August 4, 2022 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (833) 634-2524, or (412) 902-4178 for international calls, and referencing "Centennial Resource Development, Inc." at least 15 minutes prior to the start of the call or via the internet at www.cdevinc.com. A replay of the call will be available on C
DENVER and MIDLAND, Texas, May 19, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) and Colgate Energy Partners III, LLC ("Colgate") today announced they have entered into an agreement to combine in a merger of equals transaction. The combined company will be the largest pure-play E&P company in the Delaware Basin with approximately 180,000 net leasehold acres, 40,000 net royalty acres and total current production of approximately 135,000 Boe/d. The combined company plans to leverage its high-quality, scaled asset base to drive leading shareholder returns. Key Highlights High-quality, complementary asset base with differenti
DENVER, May 04, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) today announced first quarter 2022 financial and operational results. First Quarter Financial and Operational Highlights Generated record free cash flow1 of $89 millionFully repaid all borrowings under the credit facilityDelivered strong well resultsReduced leverage1 for the fourth consecutive quarterContinued to drive operational efficiencies Financial Results For the first quarter, Centennial generated net cash from operating activities of $160.1 million and free cash flow of $88.8 million. The Company reported net income during the quarter of $15.8 million, or
DENVER, April 29, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) announced today that it will report first quarter 2022 financial and operating results after the market closes for trading on May 4, 2022. Management will host an earnings conference call on May 5, 2022 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (844) 348-0017, or (213) 358-0877 for international calls, (Conference ID: 3033538) at least 15 minutes prior to the start of the call or via the internet at www.cdevinc.com. A replay of the call will be available on Centennial's website or by phone at (8
DENVER, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) today announced the establishment of a share repurchase program, its 2021 financial and operational results, and 2022 operational plans. Shareholder Return Program Announced $350 million stock repurchase programSupported by robust two-year outlook and resilient through commodity price cycles Recent Financial and Operational Highlights Generated record free cash flow1 of $85 million in the fourth quarter, and over $200 million for the full yearClosed the previously announced non-core asset divestiture in Reeves County for $101 millionRepaid $180 million in borrow
DENVER, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) announced today that it will report fourth quarter and full year 2021 financial and operating results after the market closes for trading on February 23, 2022. Management will host an earnings conference call on February 24, 2022 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (844) 348-0017, or (213) 358-0877 for international calls, (Conference ID: 2597505) at least 15 minutes prior to the start of the call or via the internet at www.cdevinc.com. A replay of the call will be available on Centennial's
DENVER, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) today announced third quarter 2021 financial and operational results. Recent Financial and Operational Highlights Generated record free cash flow, a 126% increase compared to the prior quarterRepaid $50 million in borrowings under the Company's credit facility during the quarterImproved leverage metrics significantly quarter-over-quarterAnnounced pending sale of non-core asset in southern Reeves County, TexasIncreased daily crude oil production 5% compared to the prior quarterIncreased full-year oil and total company production guidance Financial Resu
DENVER, Oct. 26, 2021 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) announced today that it will report third quarter 2021 financial and operating results after the market closes for trading on November 3, 2021. Management will host an earnings conference call on November 4, 2021 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (844) 348-0017, or (213) 358-0877 for international calls, (Conference ID: 6880769) at least 15 minutes prior to the start of the call or via the internet at www.cdevinc.com. A replay of the call will be available on Centennial's website or by ph
DENVER, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) today announced second quarter 2021 financial and operational results. Recent Financial and Operational Highlights Generated Company record free cash flow and reduced total debt outstandingImproved leverage metrics significantly quarter-over-quarterIncreased daily crude oil production 13% compared to the prior quarterDelivered solid well results from the Northern and Southern Delaware BasinsContinued to drive strong operational efficienciesAdded 2022 oil hedges at attractive prices Financial Results For the second quarter, Centennial generated net cash from oper
MIDLAND, Texas, Sept. 01, 2022 (GLOBE NEWSWIRE) -- Permian Resources Corporation ("Permian Resources" or the "Company") today announced the successful completion of the combination of Centennial Resource Development, Inc. ("Centennial") (NASDAQ:CDEV) and Colgate Energy Partners III, LLC ("Colgate"). Permian Resources Highlights Largest pure-play E&P company in the Delaware BasinDeep inventory of high-quality drilling locations on ~180,000 net acresUnique combination of attractive growth profile and robust shareholder returns frameworkStrong balance sheet protects the business and return of capital program across commodity price cyclesIndustry-leading shareholder alignment, with employee
DENVER, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) today announced second quarter 2022 financial and operational results. Second Quarter Financial and Operational Highlights Reported strong net cash flow from operationsGenerated record free cash flow1Ended the quarter with approximately $200 million of cashIncreased daily crude oil production 12% compared to the prior quarterDelivered four out of the top ten wells in Company historyReduced LOE per unit costs by 13% compared to the prior quarterSignificantly reduced leverage1 quarter-over-quarterAnnounced transformational merger of equals with Colgate Energy Finan
DENVER, July 26, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) announced today that it will report second quarter 2022 financial and operating results after the market closes for trading on August 3, 2022. Management will host an earnings conference call on August 4, 2022 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (833) 634-2524, or (412) 902-4178 for international calls, and referencing "Centennial Resource Development, Inc." at least 15 minutes prior to the start of the call or via the internet at www.cdevinc.com. A replay of the call will be available on C
DENVER and MIDLAND, Texas, June 21, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial") (NASDAQ:CDEV) and Colgate Energy Partners III, LLC ("Colgate" and, together with Centennial, the "Companies") today announced that Sean Smith, CEO of Centennial, and Will Hickey and James Walter, Co-CEOs of Colgate, are scheduled to present at the J.P. Morgan Energy, Power & Renewables Conference in New York City, New York on June 22, 2022 at 10:30 a.m. Eastern Time. The live audio webcast will be available on Centennial's website at www.cdevinc.com under the Investor Relations tab. About the Companies Centennial Resource Development, Inc. is an independent oil and natural ga
DENVER and MIDLAND, Texas, May 19, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) and Colgate Energy Partners III, LLC ("Colgate") today announced they have entered into an agreement to combine in a merger of equals transaction. The combined company will be the largest pure-play E&P company in the Delaware Basin with approximately 180,000 net leasehold acres, 40,000 net royalty acres and total current production of approximately 135,000 Boe/d. The combined company plans to leverage its high-quality, scaled asset base to drive leading shareholder returns. Key Highlights High-quality, complementary asset base with differenti
DENVER, May 04, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) today announced first quarter 2022 financial and operational results. First Quarter Financial and Operational Highlights Generated record free cash flow1 of $89 millionFully repaid all borrowings under the credit facilityDelivered strong well resultsReduced leverage1 for the fourth consecutive quarterContinued to drive operational efficiencies Financial Results For the first quarter, Centennial generated net cash from operating activities of $160.1 million and free cash flow of $88.8 million. The Company reported net income during the quarter of $15.8 million, or
DENVER, April 29, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) announced today that it will report first quarter 2022 financial and operating results after the market closes for trading on May 4, 2022. Management will host an earnings conference call on May 5, 2022 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (844) 348-0017, or (213) 358-0877 for international calls, (Conference ID: 3033538) at least 15 minutes prior to the start of the call or via the internet at www.cdevinc.com. A replay of the call will be available on Centennial's website or by phone at (8
DENVER, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) today announced the establishment of a share repurchase program, its 2021 financial and operational results, and 2022 operational plans. Shareholder Return Program Announced $350 million stock repurchase programSupported by robust two-year outlook and resilient through commodity price cycles Recent Financial and Operational Highlights Generated record free cash flow1 of $85 million in the fourth quarter, and over $200 million for the full yearClosed the previously announced non-core asset divestiture in Reeves County for $101 millionRepaid $180 million in borrow
DENVER, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) announced today that it will report fourth quarter and full year 2021 financial and operating results after the market closes for trading on February 23, 2022. Management will host an earnings conference call on February 24, 2022 at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (844) 348-0017, or (213) 358-0877 for international calls, (Conference ID: 2597505) at least 15 minutes prior to the start of the call or via the internet at www.cdevinc.com. A replay of the call will be available on Centennial's
DENVER, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) today announced it has closed the previously announced sale of non-core assets to affiliates of Henry Resources, LLC and Pickering Energy Partners, LP for a cash purchase price of $101 million, subject to customary closing adjustments. The properties sold include approximately 6,200 net leasehold acres and related assets located on the southernmost portion of the Company's Reeves County, Texas position. "We are pleased to have closed this transaction and plan to utilize the proceeds to reduce borrowings on the Company's revolver," said Sean R. Smith, Chief Executiv
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Truist upgraded Centennial Resource Development from Hold to Buy
Siebert Williams Shank initiated coverage of Centennial Resource Development with a rating of Buy and set a new price target of $12.00
MKM Partners resumed coverage of Centennial Resource Development with a rating of Buy and set a new price target of $10.00
Wells Fargo downgraded Centennial Resource Development from Equal Weight to Underweight and set a new price target of $11.00
RBC Capital Mkts upgraded Centennial Resource Development from Sector Perform to Outperform and set a new price target of $11.00
Piper Sandler upgraded Centennial Resource Development from Neutral to Overweight and set a new price target of $13.00 from $10.00 previously
Stifel upgraded Centennial Resource Development from Hold to Buy and set a new price target of $11.20 from $8.40 previously
Wells Fargo upgraded Centennial Resource Development from Underweight to Equal Weight and set a new price target of $12.00
Piper Sandler reiterated coverage of Centennial Resource Dev with a rating of Neutral and set a new price target of $10.00 from $9.00 previously
JP Morgan reiterated coverage of Centennial Resource Dev with a rating of Neutral and set a new price target of $10.00 from $9.00 previously
What are Value Stocks? A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. Benzinga Insights has compiled a list of value stocks in the energy sector that may be worth watching: Holly Energy Partners (NYSE:HEP) - P/E: 9.92 Centennial Resource Dev (NASDAQ:CDEV) - P/E: 6.19 Ring Energy (AMEX:REI) - P/E: 4.21 TransGlobe Energy (NASDAQ:TGA) - P/E: 1.95 Del
Contrary to 2021, when equity markets were in a bull run, 2022 has served as a not-so-gentle reminder that the stock market does not give free gifts. The macro attitude that is pushing the markets lower has been influenced by worries about a recession, geopolitical tensions, the energy crisis, and record inflation. Still, with a strong labor market, and rising wages for workers to defend themselves against a recession; Federal Reserve chairman Jerome Powell reminded Americans at the annual Jackson Hole Symposium last week that the Fed is committed to bringing inflation down to its target 2% rate — even at the cost of causing some pain to households and businesses along the way. Powell shat
Upgrades According to Citigroup, the prior rating for Cyxtera Technologies Inc (NASDAQ:CYXT) was changed from Neutral to Buy. The current stock performance of Cyxtera Technologies shows a 52-week-high of $15.42 and a 52-week-low of $7.09. Moreover, at the end of the last trading period, the closing price was at $7.55. For Centennial Resource Development Inc (NASDAQ:CDEV), Truist Securities upgraded the previous rating of Hold to Buy. For the second quarter, Centennial Resource Dev had an EPS of $0.60, compared to year-ago quarter EPS of $0.03. At the moment, the stock has a 52-week-high of $9.70 and a 52-week-low of $5.08. Centennial Resource Dev closed at $7.74 at the end of the last
Truist Securities analyst Neal Dingmann upgrades Centennial Resource Dev (NASDAQ:CDEV) from Hold to Buy.
Understanding Value Stocks A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. Benzinga Insights has compiled a list of value stocks in the energy sector that may be worth watching: Diamondback Energy (NASDAQ:FANG) - P/E: 5.84 Devon Energy (NYSE:DVN) - P/E: 8.13 Epsilon Energy (NASDAQ:EPSN) - P/E: 6.24 Laredo Petroleum (NYSE:LPI) - P/E: 1.86 Centennial Resource Dev (NASDAQ:CDEV) - P/E: 5.37 Most recently, Diamondback Energy reported earnings per share at $7.07, whereas in
Centennial Resource Dev (NASDAQ:CDEV) reported quarterly earnings of $0.60 per share which beat the analyst consensus estimate of $0.42 by 42.86 percent. This is a 2100 percent increase over losses of $(0.03) per share from the same period last year. The company reported quarterly sales of $472.65 million which beat the analyst consensus estimate of $388.14 million by 21.77 percent. This is a 103.22 percent increase over sales of $232.58 million the same period last year.
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MKM Partners analyst Leo Mariani assumes Centennial Resource Dev (NASDAQ:CDEV) with a Buy rating and announces Price Target of $10.