Page 8 - Centennial Resource Development News Today

Upcoming transformational events could give these underfollowed energy stocks the fuel to produce big-time returns.

Centennial and Colgate Resource have signed a merger of equals agreement valuing Colgate at $3.9B.

Centennial Resource Development and Colgate Energy Partners have entered into an agreement to combine in a merger of equals transaction. The combined company will be the largest pure-play E&P company in the Delaware Basin with approx. 180,000 net leasehold acres, 40,000 net royalty acres and total current production of approx. 135,000 Boe/d.

Upon closing, the newly combined oil company will boast 135,000 BOE/D and hold around 15 years’ worth of drilling locations in the Permian Basin.

Equities analysts expect that Centennial Resource Development, Inc. (NASDAQ:CDEV – Get Rating) will report earnings per share of $0.45 for the current quarter, Zacks reports. Four analysts have made estimates for Centennial Resource Development’s earnings. The highest EPS estimate is $0.55 and the lowest is $0.31. Centennial Resource Development posted earnings of $0.02 per share […]

As gasoline prices soar, President Biden has changed his stance on Venezuela, giving Chevron license to negotiate with PDVSA

Centennial Resource Development (NASDAQ:CDEV – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports. They currently have a $7.25 price target on the oil and natural gas company’s stock. Zacks Investment Research‘s price target would indicate a potential upside […]

Investment Analysts’ downgrades for Friday, May 20th: Asbury Automotive Group (NYSE:ABG) was downgraded by analysts at Morgan Stanley from an equal weight rating to an underweight rating. American Equity Investment Life (NYSE:AEL) was downgraded by analysts at StockNews.com from a buy rating to a hold rating. Allstate (NYSE:ALL) was downgraded by analysts at Argus from […]

Centennial Resource Development (NASDAQ:CDEV – Get Rating) had its price target reduced by analysts at Truist Financial to $8.00 in a research note issued to investors on Friday, Stock Target Advisor reports. Truist Financial’s target price would indicate a potential upside of 24.80% from the company’s previous close. CDEV has been the topic of a […]

Centennial Resource Development Inc. and Colgate Energy Partners III LLC have agreed to a merger of equals, the companies said on Thursday, creating a $7 billion Permian Basin-focused US oil and gas producer. The deal comes when global crude prices have surged after sanctions on big producer Russia following its invasion of Ukraine, helping create attractive corporate