CENTENNIAL RES (NASDAQ:CDEV) received a $18.00 target price from stock analysts at BMO Capital Markets in a research note issued to investors on Tuesday. The brokerage presently has a “hold” rating on the oil and natural gas company’s stock. BMO Capital Markets’ price objective suggests a potential downside of 4.20% from the company’s previous close.

Several other equities analysts have also recently commented on CDEV. Zacks Investment Research cut CENTENNIAL RES from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Howard Weil initiated coverage on CENTENNIAL RES in a research note on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 price objective on the stock. Scotia Howard Weill initiated coverage on CENTENNIAL RES in a research note on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 price objective on the stock. Scotiabank reiterated an “outperform” rating and issued a $21.00 price objective on shares of CENTENNIAL RES in a research note on Saturday, July 22nd. Finally, J P Morgan Chase & Co initiated coverage on CENTENNIAL RES in a research note on Tuesday, August 1st. They issued an “overweight” rating and a $19.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $22.36.

CENTENNIAL RES (NASDAQ:CDEV) opened at 18.79 on Tuesday. The stock has a 50 day moving average price of $18.12 and a 200 day moving average price of $18.12. 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 $4.82 billion, a price-to-earnings ratio of 94.42 and a beta of 2.07.

CENTENNIAL RES (NASDAQ:CDEV) last posted its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. The firm had revenue of $91.06 million during the quarter, compared to analyst estimates of $76.03 million. On average, equities analysts expect that CENTENNIAL RES will post $0.18 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in CDEV. BlackRock Inc. grew its stake in shares of CENTENNIAL RES by 175.1% in the 2nd quarter. BlackRock Inc. now owns 5,992,125 shares of the oil and natural gas company’s stock valued at $94,795,000 after purchasing an additional 3,814,249 shares during the period. Vanguard Group Inc. grew its position in CENTENNIAL RES by 66.9% during the 1st quarter. Vanguard Group Inc. now owns 7,747,736 shares of the oil and natural gas company’s stock worth $141,241,000 after acquiring an additional 3,106,958 shares during the last quarter. State Street Corp grew its position in CENTENNIAL RES by 191.3% during the 2nd quarter. State Street Corp now owns 3,084,242 shares of the oil and natural gas company’s stock worth $48,795,000 after acquiring an additional 2,025,288 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in CENTENNIAL RES during the 2nd quarter worth approximately $14,376,000. Finally, Neuberger Berman Group LLC grew its position in CENTENNIAL RES by 37.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,753,691 shares of the oil and natural gas company’s stock worth $43,563,000 after acquiring an additional 756,938 shares during the last quarter. Institutional investors 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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