This Little-Known Oil Stock Could Be a Massive Winner in the Coming Years [The Motley Fool]
Centennial Resource Development, Inc. - Class A (CDEV)
Last centennial resource development, inc. - class a earnings: 2/24 04:14 pm
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Source: The Motley Fool
A trio of factors set this oil stock apart. Centennial Resource Development ( NASDAQ:CDEV ) is already up 90% since new management took the reins in 2016. But that could be just the beginning of its run. That's because the executive team quickly scooped up drillable land in the Permian Basin , locking up a prime position in the heart of the oil-rich shale play. That position, along with the company's best-in-class balance sheet, has enabled it to unleash a gusher of oil in the past year, with even more on the way. And that fast-growing output, when combined with rising oil prices and falling costs, positions the company to generate significant earnings growth as the oil market continues its recovery. Just getting started Centennial Resource Development is growing oil production at a breakneck pace these days. After producing 19,200 barrels per day (BPD) last year, the company expects output to surge 85% this year to about 35,500 BPD. That puts it on a trajectory to
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