Centennial Res (NASDAQ:CDEV) – Research analysts at Seaport Global Securities decreased their Q2 2018 earnings per share (EPS) estimates for Centennial Res in a research report issued on Monday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will earn ($0.02) per share for the quarter, down from their prior forecast of ($0.01). Seaport Global Securities has a “Neutral” rating and a $19.00 price target on the stock.

A number of other research firms have also weighed in on CDEV. Citigroup Inc. set a $22.00 price objective on shares of Centennial Res and gave the company a “buy” rating in a research report on Friday, October 13th. Bank of America Corporation assumed coverage on shares of Centennial Res in a research report on Monday. They issued a “buy” rating on the stock. Stifel Nicolaus set a $21.00 price objective on shares of Centennial Res and gave the company a “buy” rating in a research report on Thursday, October 5th. BMO Capital Markets set a $18.00 price objective on shares of Centennial Res and gave the company a “hold” rating in a research report on Tuesday, October 10th. Finally, KLR Group assumed coverage on shares of Centennial Res in a research report on Monday, September 25th. They issued a “buy” rating and a $30.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $22.43.

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Centennial Res (CDEV) traded down 0.59% during trading on Wednesday, hitting $18.44. 739,038 shares of the company traded hands. Centennial Res has a 52-week low of $13.31 and a 52-week high of $20.97. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 92.66 and a beta of 2.07. The company’s 50-day moving average is $18.21 and its 200 day moving average is $18.21.

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 the consensus estimate of $0.02 by $0.05. The business had revenue of $91.06 million during the quarter, compared to analysts’ expectations of $76.03 million.

Hedge funds and other institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC boosted its position in shares of 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 purchasing an additional 756,938 shares in the last quarter. Clinton Group Inc. purchased a new stake in shares of Centennial Res during the 2nd quarter worth $364,000. Airain ltd purchased a new stake in shares of Centennial Res during the 2nd quarter worth $1,823,000. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 3,106,958 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position 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 worth $2,672,000 after purchasing an additional 32,327 shares in 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.

Earnings History and Estimates for Centennial Res (NASDAQ:CDEV)

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