Analysts Set CENTENNIAL RES (CDEV) PT at $22.85
Shares of CENTENNIAL RES (NASDAQ:CDEV) have been given an average recommendation of “Buy” by the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $22.57.
A number of equities research analysts have issued reports on the stock. Scotiabank reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of CENTENNIAL RES in a research report on Saturday, July 22nd. JPMorgan Chase & Co. assumed coverage on shares of CENTENNIAL RES in a research note on Tuesday, August 1st. They issued an “overweight” rating and a $19.00 target price on the stock. Zacks Investment Research upgraded shares of CENTENNIAL RES from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a research note on Thursday, September 7th. Imperial Capital assumed coverage on shares of CENTENNIAL RES in a research note on Friday, August 18th. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, Scotia Howard Weill assumed coverage on shares of CENTENNIAL RES in a research note on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 target price on the stock.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Seven Bridges Advisors LLC boosted its stake in CENTENNIAL RES by 16.8% in the second quarter. Seven Bridges Advisors LLC now owns 8,244 shares of the oil and natural gas company’s stock valued at $130,000 after acquiring an additional 1,184 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of CENTENNIAL RES by 9.9% during the 2nd quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock valued at $145,000 after buying an additional 830 shares in the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of CENTENNIAL RES during the 2nd quarter valued at approximately $158,000. Cipher Capital LP purchased a new stake in shares of CENTENNIAL RES during the 2nd quarter valued at approximately $182,000. Finally, Comerica Bank purchased a new stake in shares of CENTENNIAL RES during the 2nd quarter valued at approximately $184,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.
Shares of CENTENNIAL RES (NASDAQ CDEV) traded down 3.70% during midday trading on Wednesday, reaching $17.97. 1,292,155 shares of the company’s stock traded hands. CENTENNIAL RES has a 12 month low of $13.31 and a 12 month high of $20.97. The firm has a market cap of $4.61 billion, a PE ratio of 90.30 and a beta of 2.10. The stock has a 50-day moving average price of $17.55 and a 200 day moving average price of $17.55.
CENTENNIAL RES (NASDAQ:CDEV) last issued its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. The firm had revenue of $91.06 million during the quarter, compared to the consensus estimate of $76.03 million. Equities research analysts predict that CENTENNIAL RES will post $0.18 earnings per share for the current year.
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.
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