Centennial Resource Development (NASDAQ: CDEV) Gaining At Least 40% After Friday’s Positive Change

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.

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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.

Asan Abdiev

CEO and Editor in Chief. Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life