RBC Capital analyst Scott Hanold maintained a Hold rating on Centennial Resource Development (CDEV) yesterday and set a price target of $1.50. The company’s shares closed last Monday at $0.83, close to its 52-week low of $0.24.
According to TipRanks.com, Hanold has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -15.2% and a 30.7% success rate. Hanold covers the Utilities sector, focusing on stocks such as Southwestern Energy, Matador Resources, and Concho Resources.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Centennial Resource Development with a $1.50 average price target, which is a 79.0% upside from current levels. In a report issued on July 1, Credit Suisse also maintained a Hold rating on the stock with a $1.00 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.
