Centennial Resource Development Inc (CDEV) stock is higher by 14.04% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.
Centennial Resource Development Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on CDEV!
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.
As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With CDEV Stock Today?
Centennial Resource Development Inc (CDEV) stock is trading at $8.45 as of 10:10 AM on Wednesday, Jan 26, a rise of $0.23, or 2.81% from the previous closing price of $8.22. The stock has traded between $8.17 and $8.59 so far today. Volume today is light. So far 1,392,882 shares have traded compared to average volume of 7,475,978 shares.
More About Centennial Resource Development Inc
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.
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