Benzinga | Nov 2, 2020 04:44PM EST

Centennial Resource Dev: Q3 Earnings Insights

Shares of Centennial Resource Dev (NASDAQ:CDEV) moved lower by 9.10% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 1800.00% year over year to ($0.19), which were in line with the estimate of ($0.19).

Revenue of $149,101,000 declined by 34.93% from the same period last year, which beat the estimate of $115,260,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Centennial Resource Dev hasn't issued any revenue guidance for the time being.

Technicals

Company's 52-week high was at $5.35

Company's 52-week low was at $0.24

Price action over last quarter: down 29.28%

Company Profile

Centennial Resource Development Inc is an independent oil and natural gas company focused on the development and acquisition of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. Its assets are concentrated in the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of contiguous acreage blocks located in West Texas and New Mexico. The firm generates revenue from the sale of oil and natural gas. Geographically, the company operates in the United States of America.