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Centennial Resource Development, Inc. (CDEV)
NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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As of 04:00PM EDT. Market open.
15,110 reactions on $CDEV conversation
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Stock was in mid teens a few years ago at lower prices. Might not stay at $100+ a barrel but makes good money at $80.
$CDEV merging with Colgate more than triples their number of rigs. I think shale oil companies have to merge and combine their strengths if they are to thrive when oil falls in price. Now is the time to do it while share prices are low.
525 million in cash and 269.3 million shares of stock, almost doubling the number of shares available, which could have an effect on the market depending how many of those shares end up back on the market and when. In addition, they are buying assets with oil at 110, that might be on the high side for valuation. Stock might pull back a little due to valuation premium.
Today's EIA report was incredibly bullish for oil. Overall oil drawdown of 8.4 million barrels in the latest reported week. SPR drawdown was a massive 5.0 million barrels (by far the biggest this year), yet even with that the commercial (non SPR) inventories went down a net 3.4 million barrels.
SPR is now down 14.6% from one year ago.
Commercial (non SPR) is down 13.4% from one year ago.
Total US oil inventory (all of the above) is down 14.1% from one year ago.
$LPI $ESTE $CDEV $SM $FANG $PXD $CPE
If the company has a less than 6 months payback on new wells, I wouldn’t think debt would be a major issue. IMO
Sold just now after holding it for a year. Made a decent profit, but it was a disappointment compared to a lot of other oil companies I could have bought.
I think this merger will suppress the share price for a while, so heading elsewhere.
Good luck to all those invested here.
Well, just my luck. I bought this on tuesday for 7.73. Question is, do I average down or take my beating and move on? I also currently have LPI, CPG, SD, SBOW and ESTE. Thinking I should give this a chance.....
Why am I always on the wrong side of these deals, instead of Colgate buying cdev for 10 bucks a share.
If cdev keeps dropping, it will be down ytd. It closed on 31 Dec at 5.98. That's only about .50 lower. So much for increasing shareholder value.
Should've focused on buying back there own shares instead of this deal.
CDEV possesses very favorable locations and so does Colgate, but it is confusing that CDEV claims to have a 4 months payout of wells when the Q1 current income fails expectations significantly. The main concern for the future would be that the company's leadership is in the hands of rookies. These guys are very young and most likely innovative and smart. However, everything floats when crude is above $100, and natural gas is above $8.
EOG guru Papa left CDEV. Can the rookies he left manage the heritage?
We have an energy crisis on our hands and I’m in love with it. Not sure how they will ever catch up!!
$BTE $OXY $CPE $RIG $OIH $SU $XOM $CVX $EOG $CNQ $LPI $CLR $CDEV $CPG $ATH $CNQ $USO $VET $PBA $MUR $PVL $KRP $BCEI $ERF $TPL $CPK $OMP $EGY $USO $NRGU $CNQ
Well they sure Much better Hedges in place than the current CDEV management,.......How much of that 70K boe/day by Colgate is Oil?
CDEV has a presentation on their website detailing the proposed merger, income and hedging positions of the two companies. proforma expectations, etc. I would expect analysts will weigh after reviewing the info, but the merger appears to be accretive to CDEV shareholders. GL
More or less like they bought a same size company with $3.9 Bil , take $1.4 bil debt, with share dilution of 95% to 554 mil, with questionable oil production amount, and FCF generation .
i knew this would turn around
long and strong
Buyer Beware … incompetent management lurks within cdev.
As of 2pm EDT
Oil – 51% increase in value YTD.
Cdev, which claims to be an oil company – 8.5% increase in value YTD (and dropping)
Now granted, the price change in a bbl and the change in SP of an oil company are not going to move in a 1 for 1 correlation, but there should not be a great difference since oil is the asset the company sells. What has been added to the asset, in this case oil, to change its value? Could it be management decisions??? As acknowledged, the correlation between the price of a bbl and the SP of an oil company are not going to move exactly in tandem; however, the gap between the increase in the price of oil and the increase in the SP of cdev is prima facie evidence of incompetent management.
I think the CDEV management has thought well about this decision and made the right move if a company wants to grow it has to do so. We want to believe that we shareholders will not be offended, it is a bit uncomfortable that the shareholders sell out after learning this decision. Why is everyone scared of the merger?
I hold 12,000 shares.
THE OTHER OTHER MARK
So if they change the ticker symbol that only means the ticker symbol changes correct. We all keep our current shares?
Apparently CDEV feels this is the step needed to get them to the next level. The company only has two wells and I'm interested to see exactly what the merger adds to their production.
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