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Stock in Focus: Centennial Resource Development, Inc. (CDEV)

-- Sunday, April 7, 2019, 9:48 --

Company Profile:

Centennial Resource Development, Inc., an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico. As of December 31, 2018, it leased or acquired approximately 80,223 net acres; and owned 1,597 net mineral acres in the Delaware Basin. The company was formerly known as Silver Run Acquisition Corporation and changed its name to Centennial Resource Development, Inc. in October 2016. Centennial Resource Development, Inc. was incorporated in 2015 and is headquartered in Denver, Colorado.

Recent News:

On March 12, 2019, the company announced that its subsidiary, Centennial Resource Production, LLC, has priced its previously announced private offering of senior unsecured notes due 2027. The 2027 Notes, which priced at 99.235% of the aggregate principal amount, will mature on April 1, 2027 and will pay interest at an annual rate of 6.875%.

The company reported that full year 2018 net income increased 165% to $199.9 million, or $0.75 per diluted share, compared to $75.6 million, or $0.32 per diluted share, in the prior year. It expected to grow crude oil production approximately 12% year-over-year.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

CDEV’s strengths can be seen in its strong growth, strong profitability and robust solvency compared with its peers. Its revenue has increased over recently several years. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator. The RSI stands at 45.92 with positive bias. We rate Centennial Resource Development, Inc. (CDEV) a STRONG BUY.

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