The stock of Centennial Resource Development Inc (NASDAQ:CDEV) reached all time high today, Nov, 30 and still has $18.74 target or 8.00% above today’s $17.35 share price. This indicates more upside for the $2.84 billion company. This technical setup was reported by Barchart.com. If the $18.74 PT is reached, the company will be worth $227.20 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 465,780 shares traded hands. Centennial Resource Development Inc (NASDAQ:CDEV) has risen 63.40% since April 27, 2016 and is uptrending. It has outperformed by 58.17% the S&P500.
Analysts await Centennial Resource Development Inc (NASDAQ:CDEV) to report earnings on February, 9. CDEV’s profit will be $9.82M for 72.29 P/E if the $0.06 EPS becomes a reality. After $-0.04 actual earnings per share reported by Centennial Resource Development Inc for the previous quarter, Wall Street now forecasts -250.00% EPS growth.
According to Zacks Investment Research, “Silver Run Acquisition Corporation is an energy-focused special purpose entity formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Silver Run Acquisition Corporation is based in HOUSTON, United States.”
More notable recent Centennial Resource Development Inc (NASDAQ:CDEV) news were published by: Wsj.com which released: “Centennial Resource Development Buys Additional Energy Acreage for $855 Million” on November 28, 2016, also Globenewswire.com with their article: “Centennial Resource Development, Inc. Schedules Earnings Call for Third …” published on November 03, 2016, Globenewswire.com published: “Centennial Resource Development, Inc. Announces Third Quarter 2016 Results” on November 09, 2016. More interesting news about Centennial Resource Development Inc (NASDAQ:CDEV) were released by: Denverpost.com and their article: “Centennial Resource files for energy IPO in the midst of low oil prices, losses” published on June 29, 2016 as well as Nasdaq.com‘s news article titled: “Centennial Resource Development is Now Oversold (CDEV)” with publication date: November 17, 2016.
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