DENVER (AP) _ Centennial Resource Development, Inc. (CDEV) on Monday reported a loss of $51.5 million in its third quarter.
The Denver-based company said it had a loss of 19 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The company posted revenue of $149.1 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $115.9 million.
In the final minutes of trading on Monday, the company's shares hit 69 cents. A year ago, they were trading at $3.40.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDEV at https://www.zacks.com/ap/CDEV
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News