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Centennial Resource Development (CDEV) Receives a Buy from Stifel Nicolaus

In a report issued on July 22, Derrick Whitfield from Stifel Nicolaus maintained a Buy rating on Centennial Resource Development (CDEVResearch Report), with a price target of $13.00. The company’s shares closed last Friday at $5.96.

According to TipRanks.com, Whitfield ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -13.4% and a 29.3% success rate. Whitfield covers the Utilities sector, focusing on stocks such as Continental Resources, Northern Oil And Gas, and Comstock Resources.

Currently, the analyst consensus on Centennial Resource Development is a Moderate Buy with an average price target of $10.20, representing a 59.4% upside. In a report issued on July 20, MKM Partners also initiated coverage with a Buy rating on the stock with a $10.00 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 $347 million and net profit of $15.8 million. In comparison, last year the company earned revenue of $192 million and had a GAAP net loss of $34.65 million.

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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.

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