Shares of Centennial Res (NASDAQ:CDEV) have been assigned an average recommendation of “Buy” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $22.55.

A number of brokerages have recently commented on CDEV. Imperial Capital began coverage on shares of Centennial Res in a report on Friday, August 18th. They issued an “outperform” rating and a $22.00 target price for the company. BMO Capital Markets set a $18.00 price target on shares of Centennial Res and gave the stock a “hold” rating in a report on Saturday, August 12th. J P Morgan Chase & Co started coverage on shares of Centennial Res in a report on Tuesday, August 1st. They set an “overweight” rating and a $19.00 price target for the company. Scotiabank reissued an “outperform” rating and set a $21.00 price target on shares of Centennial Res in a report on Saturday, July 22nd. Finally, Scotia Howard Weill started coverage on shares of Centennial Res in a report on Friday, July 21st. They set a “sector outperform” rating and a $21.00 price target for the company.

In other news, CFO George S. Glyphis purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was purchased at an average cost of $15.02 per share, with a total value of $150,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 20,490 shares of the company’s stock, valued at approximately $307,759.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 44.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CDEV. FMR LLC raised its position in shares of Centennial Res by 22.0% in the first quarter. FMR LLC now owns 30,658,838 shares of the oil and natural gas company’s stock valued at $554,836,000 after buying an additional 5,518,614 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Centennial Res by 0.3% in the second quarter. Vanguard Group Inc. now owns 7,773,597 shares of the oil and natural gas company’s stock valued at $122,979,000 after buying an additional 25,861 shares during the last quarter. BlackRock Inc. raised its position in shares of Centennial Res by 175.1% in the second quarter. BlackRock Inc. now owns 5,992,125 shares of the oil and natural gas company’s stock valued at $94,795,000 after buying an additional 3,814,249 shares during the last quarter. State Street Corp raised its position in shares of Centennial Res by 191.3% in the second quarter. State Street Corp now owns 3,084,242 shares of the oil and natural gas company’s stock valued at $48,795,000 after buying an additional 2,025,288 shares during the last quarter. Finally, Kensico Capital Management Corp raised its position in shares of Centennial Res by 9.3% in the first quarter. Kensico Capital Management Corp now owns 2,938,659 shares of the oil and natural gas company’s stock valued at $53,572,000 after buying an additional 250,901 shares during the last quarter. 90.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Centennial Res (CDEV) opened at 17.46 on Friday. The stock’s 50 day moving average price is $16.47 and its 200-day moving average price is $16.81. The firm has a market capitalization of $4.48 billion, a PE ratio of 87.74 and a beta of 2.14. Centennial Res has a 52-week low of $12.82 and a 52-week high of $20.97.

Centennial Res (NASDAQ:CDEV) last announced its earnings results on Monday, August 7th. The oil and natural gas company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $91.06 million during the quarter, compared to analysts’ expectations of $76.03 million. Equities research analysts anticipate that Centennial Res will post $0.18 EPS for the current fiscal year.

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Centennial Res Company Profile

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.

Analyst Recommendations for Centennial Res (NASDAQ:CDEV)

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