ValuEngine upgraded shares of Centennial Resource Dev (NASDAQ:CDEV) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Centennial Resource Dev from a buy rating to a hold rating in a report on Tuesday, January 30th. Stifel Nicolaus set a $25.00 price objective on Centennial Resource Dev and gave the company a buy rating in a research note on Tuesday, January 30th. BidaskClub upgraded Centennial Resource Dev from a hold rating to a buy rating in a research note on Thursday, January 25th. Citigroup decreased their price objective on Centennial Resource Dev from $25.00 to $23.00 and set a buy rating for the company in a research note on Tuesday, February 13th. Finally, Imperial Capital reiterated an outperform rating and issued a $31.00 price objective (up previously from $26.00) on shares of Centennial Resource Dev in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $24.12.

Shares of Centennial Resource Dev stock opened at $18.92 on Wednesday. Centennial Resource Dev has a 12 month low of $14.10 and a 12 month high of $22.14. The stock has a market cap of $5,222.47, a P/E ratio of 67.57, a PEG ratio of 0.60 and a beta of 1.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01.

Centennial Resource Dev (NASDAQ:CDEV) last announced its earnings results on Monday, February 26th. The oil and natural gas company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Centennial Resource Dev had a return on equity of 2.42% and a net margin of 17.58%. The company had revenue of $166.13 million during the quarter, compared to analysts’ expectations of $152.13 million. equities analysts expect that Centennial Resource Dev will post 0.72 EPS for the current fiscal year.

In other news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $19.50, for a total transaction of $419,355,631.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 44.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of Centennial Resource Dev by 220.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,208,931 shares of the oil and natural gas company’s stock worth $63,536,000 after acquiring an additional 2,207,300 shares in the last quarter. Tide Point Capital Management LP acquired a new stake in shares of Centennial Resource Dev during the 4th quarter worth about $35,767,000. Geode Capital Management LLC raised its position in shares of Centennial Resource Dev by 21.8% during the 4th quarter. Geode Capital Management LLC now owns 1,507,207 shares of the oil and natural gas company’s stock worth $29,842,000 after acquiring an additional 269,625 shares in the last quarter. CDAM UK Ltd acquired a new stake in shares of Centennial Resource Dev during the 4th quarter worth about $26,507,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Centennial Resource Dev during the 4th quarter worth about $15,475,000. 91.21% of the stock is currently owned by institutional investors and hedge funds.

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About Centennial Resource Dev

Centennial Resource Development, Inc, together with its subsidiary, Centennial Resource Production, LLC, operates as an independent oil and natural gas company in the United States. It focuses on the development of unconventional oil and associated liquids-rich natural gas reserves located in the Permian Basin.

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Analyst Recommendations for Centennial Resource Dev (NASDAQ:CDEV)

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