Centennial Res (CDEV) Coverage Initiated by Analysts at Wolfe Research
CDEV has been the topic of several other reports. Zacks Investment Research downgraded Centennial Res from a buy rating to a hold rating in a research report on Thursday, November 2nd. Howard Weil started coverage on Centennial Res in a research report on Friday, July 21st. They issued a sector outperform rating and a $21.00 price target on the stock. Stifel Nicolaus set a $21.00 price target on Centennial Res and gave the stock a buy rating in a research report on Thursday, October 5th. Seaport Global Securities started coverage on Centennial Res in a research report on Thursday, September 28th. They issued a neutral rating and a $19.00 price target on the stock. Finally, Bank of America Corporation started coverage on Centennial Res in a research report on Monday, October 16th. They issued a buy rating on the stock. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $22.50.
Shares of Centennial Res (NASDAQ:CDEV) traded down $0.31 during midday trading on Tuesday, reaching $19.78. The company’s stock had a trading volume of 3,125,800 shares, compared to its average volume of 1,420,502. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06. Centennial Res has a 52 week low of $13.31 and a 52 week high of $22.11.
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Several large investors have recently made changes to their positions in CDEV. Magnetar Financial LLC acquired a new stake in shares of Centennial Res during the 3rd quarter worth approximately $72,858,000. BlackRock Inc. boosted its stake in 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 buying an additional 3,814,249 shares in the last quarter. Vanguard Group Inc. boosted its stake in 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 buying an additional 3,106,958 shares in the last quarter. State Street Corp boosted its stake in Centennial Res by 191.3% in the 2nd quarter. State Street Corp now owns 3,084,242 shares of the oil and natural gas company’s stock valued at $48,795,000 after buying an additional 2,025,288 shares in the last quarter. Finally, Balyasny Asset Management LLC acquired a new stake in Centennial Res in the 2nd quarter valued at $14,376,000. 90.50% of the stock is currently owned by institutional investors.
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.
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