Centennial Res (NASDAQ:CDEV) has been given a $21.00 price target by equities research analysts at Stifel Nicolaus in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 14.50% from the company’s previous close.

CDEV has been the topic of a number of other research reports. Imperial Capital assumed coverage on shares of Centennial Res in a research note on Friday, August 18th. They set an “outperform” rating and a $22.00 price objective on the stock. Howard Weil assumed coverage on shares of Centennial Res in a research note on Friday, July 21st. They set a “sector outperform” rating and a $21.00 price objective on the stock. BMO Capital Markets set a $18.00 price objective on shares of Centennial Res and gave the company a “hold” rating in a research note on Saturday, August 12th. Seaport Global Securities assumed coverage on shares of Centennial Res in a research note on Thursday, September 28th. They set a “neutral” rating and a $19.00 price objective on the stock. Finally, Scotia Howard Weill assumed coverage on shares of Centennial Res in a research note on Friday, July 21st. They set a “sector outperform” rating and a $21.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $22.36.

Shares of Centennial Res (NASDAQ CDEV) opened at 18.34 on Thursday. The stock has a market capitalization of $4.71 billion, a P/E ratio of 92.16 and a beta of 2.07. The company’s 50-day moving average is $18.07 and its 200 day moving average is $18.07. Centennial Res has a 52 week low of $13.31 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 for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $91.06 million for the quarter, compared to analyst estimates of $76.03 million. On average, equities analysts forecast that Centennial Res will post $0.18 EPS for the current fiscal year.

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Large investors have recently modified their holdings of the stock. Seven Bridges Advisors LLC increased 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 worth $130,000 after buying an additional 1,184 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Centennial Res by 9.9% in the second quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock worth $145,000 after buying an additional 830 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Centennial Res in the second quarter worth $158,000. Cipher Capital LP bought a new stake in shares of Centennial Res in the second quarter worth $182,000. Finally, Comerica Bank bought a new stake in shares of Centennial Res in the second quarter worth $184,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

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.

Analyst Recommendations for Centennial Res (NASDAQ:CDEV)

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