KeyBanc analyst Leo Mariani maintained a Buy rating on Centennial Resource Development (CDEV) today and set a price target of $2.00. The company’s shares closed last Wednesday at $1.52.
According to TipRanks.com, Mariani ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -10.8% and a 31.9% success rate. Mariani covers the Utilities sector, focusing on stocks such as Magnolia Oil & Gas, Concho Resources, and Pioneer Natural.
Currently, the analyst consensus on Centennial Resource Development is a Hold with an average price target of $1.18, which is a -23.9% downside from current levels. In a report issued on June 2, UBS also maintained a Buy rating on the stock with a $1.50 price target.
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Based on Centennial Resource Development’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $193 million and GAAP net loss of $548 million. In comparison, last year the company earned revenue of $215 million and had a GAAP net loss of $8.11 million.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CDEV in relation to earlier this year.
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Silver Run Acquisition Corporation operates as a special purpose acquisition company. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. Silver Run Acquisition focuses on acquiring a target business in the energy industry.
