CENTENNIAL RES (CDEV) Research Coverage Started at Imperial Capital
Imperial Capital began coverage on shares of CENTENNIAL RES (NASDAQ:CDEV) in a report issued on Friday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $22.00 price target on the oil and natural gas company’s stock.
A number of other research analysts also recently issued reports on the company. Citigroup Inc. started coverage on CENTENNIAL RES in a report on Monday, May 1st. They issued a buy rating and a $21.00 price target on the stock. Howard Weil started coverage on CENTENNIAL RES in a report on Friday, July 21st. They issued a sector outperform rating and a $21.00 price target on the stock. Scotia Howard Weill started coverage on CENTENNIAL RES in a report on Friday, July 21st. They issued a sector outperform rating and a $21.00 price target on the stock. Zacks Investment Research downgraded CENTENNIAL RES from a hold rating to a sell rating in a report on Tuesday, July 4th. Finally, Scotiabank reiterated an outperform rating and issued a $21.00 price target on shares of CENTENNIAL RES in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $22.17.
Shares of CENTENNIAL RES (CDEV) opened at 16.21 on Friday. The company has a 50-day moving average price of $16.08 and a 200 day moving average price of $16.91. The stock has a market capitalization of $4.16 billion, a PE ratio of 81.46 and a beta of 2.14. CENTENNIAL RES has a 52 week low of $11.85 and a 52 week high of $20.97.
CENTENNIAL RES (NASDAQ:CDEV) last announced its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. The company had revenue of $91.06 million during the quarter, compared to analysts’ expectations of $76.03 million. Equities analysts forecast that CENTENNIAL RES will post $0.18 EPS for the current fiscal year.
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In other CENTENNIAL RES news, CFO George S. Glyphis bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were purchased at an average cost of $15.02 per share, for a total transaction of $150,200.00. Following the purchase, the chief financial officer now directly owns 20,490 shares in the company, valued at $307,759.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 44.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CDEV. UBS Asset Management Americas Inc. acquired a new position in shares of CENTENNIAL RES during the fourth quarter valued at $670,000. Bank of Montreal Can acquired a new position in shares of CENTENNIAL RES during the first quarter valued at $586,000. Ferguson Wellman Capital Management Inc. increased its position in shares of CENTENNIAL RES by 14.5% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,993,162 shares of the oil and natural gas company’s stock valued at $36,335,000 after buying an additional 252,339 shares during the period. Howard Hughes Medical Institute increased its position in shares of CENTENNIAL RES by 15.4% in the first quarter. Howard Hughes Medical Institute now owns 17,237 shares of the oil and natural gas company’s stock valued at $314,000 after buying an additional 2,296 shares during the period. Finally, Deltec Asset Management LLC increased its position in shares of CENTENNIAL RES by 81.7% in the first quarter. Deltec Asset Management LLC now owns 36,330 shares of the oil and natural gas company’s stock valued at $662,000 after buying an additional 16,330 shares during the period.
About CENTENNIAL RES
Centennial Resource Development, Inc is an independent oil and natural gas company. The Company is focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.
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