Stifel Nicolaus analyst Michael Scialla reiterated a Buy rating on Centennial Resource Development Inc (CDEV) on November 25 and set a price target of $27. The company’s shares opened today at $15.51, close to its 52-week low of $15.30.
According to TipRanks.com, Scialla is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -12.4% and a 25.1% success rate. Scialla covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Abraxas Petroleum Corp, and Jagged Peak Energy Inc.
Centennial Resource Development Inc has an analyst consensus of Strong Buy, with a price target consensus of $25.88, implying a 66.9% upside from current levels. In a report issued on November 13, BMO Capital also reiterated a Buy rating on the stock with a $24 price target.
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Based on Centennial Resource Development Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $41.01 million. In comparison, last year the company had a net profit of $14.45 million.
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Centennial Resource Development, Inc. is an oil and natural gas company Its activities include development and acquisition of unconventional oil and associated liquid-rich natural gas reserves in the Permian Basin. The company was founded in October 2014 and is headquartered in Denver, CO.
