Stock Worth Mentioning Today: Could Centennial Resource Development Inc See a Reversal After Breaking Its 52-Week High?

Stock Worth Mentioning Today: Could Centennial Resource Development Inc See a Reversal After Breaking Its 52 Week High?

The stock of Centennial Resource Development Inc (NASDAQ:CDEV) hit a new 52-week high and has $17.87 target or 3.00% above today’s $17.35 share price. The 6 months bullish chart indicates low risk for the $2.84 billion company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $17.87 price target is reached, the company will be worth $85.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 104,134 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 $9.82 million for 72.29 P/E if the $0.06 EPS becomes a reality. After $-0.04 actual EPS 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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