78,210 Shares in Centennial Res (CDEV) Purchased by GLG Partners LP
GLG Partners LP bought a new position in shares of Centennial Res (NASDAQ:CDEV) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 78,210 shares of the oil and natural gas company’s stock, valued at approximately $1,237,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Koch Industries Inc. acquired a new position in shares of Centennial Res during the first quarter worth $325,000. Neuberger Berman Group LLC lifted its stake in shares of Centennial Res by 37.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,753,691 shares of the oil and natural gas company’s stock valued at $43,563,000 after acquiring an additional 756,938 shares during the last quarter. Airain ltd bought a new position in shares of Centennial Res in the 2nd quarter valued at $1,823,000. Vanguard Group Inc. lifted its stake in shares of Centennial Res by 66.9% in the 1st quarter. Vanguard Group Inc. now owns 7,747,736 shares of the oil and natural gas company’s stock valued at $141,241,000 after acquiring an additional 3,106,958 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Centennial Res by 28.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 146,556 shares of the oil and natural gas company’s stock valued at $2,672,000 after acquiring an additional 32,327 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in 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 objective on the stock. KLR Group began coverage on Centennial Res in a report on Monday, September 25th. They set a “buy” rating and a $30.00 price target on the stock. Zacks Investment Research raised Centennial Res from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a research note on Thursday, September 7th. J P Morgan Chase & Co began coverage on shares of Centennial Res in a report on Tuesday, August 1st. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, BMO Capital Markets set a $18.00 target price on shares of Centennial Res and gave the stock a “hold” rating in a report on Saturday, August 12th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $22.57.
Centennial Res (NASDAQ CDEV) traded down 0.354% during trading on Wednesday, reaching $18.305. 77,490 shares of the company traded hands. The firm’s 50 day moving average price is $18.00 and its 200 day moving average price is $18.00. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 91.985 and a beta of 2.07. Centennial Res has a 12-month low of $13.31 and a 12-month high of $20.97.
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, beating the Zacks’ consensus estimate of $0.02 by $0.05. The company had revenue of $91.06 million for the quarter, compared to analysts’ expectations of $76.03 million. Equities research analysts expect that Centennial Res will post $0.18 earnings per share for the current year.
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Centennial Res 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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