Centennial Resource Development, Inc. (NASDAQ:CDEV) is expected to report third quarter earnings results, after market close, on Monday 2nd November 2020.
Analysts polled by Thomson Reuters anticipate third quarter loss of $ 0.19 per share.
Looking ahead, the full year loss are expected at $ 2.23 per share on the revenues of $ 529.88 million.
Previous Quarter Performance
Centennial Resource Development, Inc. unfold income for the second quarter of $ 0.02 per share, from the revenue of $ 90.51 million. The quarterly earnings reduced 71.43 percent while revenues declined 61.93 percent compared with the same quarter last year.
Street analysts expected Centennial Resource Development, Inc. to report loss of $ 0.28 per share on revenue of $ 83.91 million for the second quarter. The bottom line results beat street analysts by $ 0.3 or 107.14 percent, at the same time, top line results outshined analysts by $ 6.60 million or 7.87 percent.
Stock Performance
On Friday, shares of Centennial Resource Development, Inc. has traded high as $ 0.64 and has cracked $ 0.54 on the downward trend, reaching $ 0.62 with volume of 5.97 million shares.
According to the previous trading day, closing price of $ 0.62, representing a 141.67 % increase from the 52 week low of $ 0.24 and a 89.16 % decrease over the 52 week high of $ 5.35.
The company has a market capital of $ 173.11 million and is part of the Energy sector and Oil & Gas E&P industry.
Recent Analyst recommendations
- On 14th September 2020, downgraded by Wells Fargo & Co to Underweight from Equal-Weight rating.
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.
