Why Centennial Resource Development Stock Jumped 9.5% Today
Shares of U.S. onshore exploration and production company Centennial Resource Development (NASDAQ: CDEV) advanced as much as 9.5% in early trading on Dec. 10. There wasn't anything big out of the company, but one Wall Street research shop provided an update that likely excited investors.
Centennial Resource Development is a small and highly leveraged energy company. That has contributed to often volatile trading in recent months, as company and industry news have left investors vacillating between buying and selling moods. The big story is that sustainably higher oil prices will make it much easier for Centennial to muddle through the current energy sector downturn. The problem is that people have very different opinions of what's going to happen from here.
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Source Fool.com
