Oil and natural gas company Centennial Resource Development surged 29.57% to $1.4900 last week after slow growth since mid-April. Optimistic buyers increased the daily volume to 32.2 million shares while the actual average daily volume is 18.5 million shares. Before opening the market CDEV’s value stands at $2.12 as at 8:03 AM EDT.
Due to the COVID-19 lockdown CDEV’s Q1 2020 revenue fell to $192,769,000 from Q4 2019’s $256,392,000. Thus, operating income became very tiny; $3,980,000. Because of huge special income charges, the net income became negative at $547,983,000. This situation may lead to bankruptcy unless the economy becomes active despite the second wave of the coronavirus.
Centennial Resource Development’s actual value is $3,834,487 while 12-months based EPS falls to -$1.9400. Its market value is underpriced due to the previous quarter’s volatile net incomes.
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