414,388 Shares in CENTENNIAL RES (CDEV) Acquired by JPMorgan Chase & Co.
JPMorgan Chase & Co. bought a new position in shares of CENTENNIAL RES (NASDAQ:CDEV) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 414,388 shares of the oil and natural gas company’s stock, valued at approximately $6,556,000. JPMorgan Chase & Co. owned 0.20% of CENTENNIAL RES at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in CDEV. Washington Trust Bank raised its position in shares of CENTENNIAL RES by 1.8% in the second quarter. Washington Trust Bank now owns 12,514 shares of the oil and natural gas company’s stock valued at $198,000 after buying an additional 227 shares in the last quarter. Seven Bridges Advisors LLC boosted its stake in shares of 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 buying an additional 1,184 shares during the period. Great West Life Assurance Co. Can bought a new stake in shares of CENTENNIAL RES in the second quarter valued at approximately $158,000. Cipher Capital LP bought a new stake in shares of CENTENNIAL RES in the second quarter valued at approximately $182,000. Finally, Comerica Bank bought a new stake in shares of CENTENNIAL RES in the second quarter valued at approximately $184,000. 97.38% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on the company. Seaport Global Securities initiated coverage on CENTENNIAL RES in a research report on Thursday, September 28th. They set a “neutral” rating and a $19.00 price target on the stock. BMO Capital Markets set a $17.00 price objective on CENTENNIAL RES and gave the company a “hold” rating in a report on Monday, June 26th. J P Morgan Chase & Co started coverage on CENTENNIAL RES in a report on Tuesday, August 1st. They issued an “overweight” rating and a $19.00 price objective for the company. Imperial Capital started coverage on CENTENNIAL RES in a research report on Friday, August 18th. They set an “outperform” rating and a $22.00 target price for the company. Finally, KLR Group started coverage on CENTENNIAL RES in a research report on Monday, September 25th. They set a “buy” rating and a $30.00 target price for the company. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. CENTENNIAL RES has a consensus rating of “Buy” and a consensus target price of $22.57.
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CENTENNIAL RES (NASDAQ CDEV) opened at 18.37 on Wednesday. CENTENNIAL RES has a 12 month low of $13.31 and a 12 month high of $20.97. The firm has a market capitalization of $4.72 billion, a P/E ratio of 92.31 and a beta of 2.07. The firm’s 50-day moving average is $18.00 and its 200 day moving average is $18.00.
CENTENNIAL RES (NASDAQ:CDEV) last released its quarterly earnings data 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 firm had revenue of $91.06 million during the quarter, compared to the consensus estimate of $76.03 million. On average, analysts expect that CENTENNIAL RES will post $0.18 EPS for the current fiscal 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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