Hilton Capital Management LLC acquired a new stake in Centennial Resource Development Inc (NASDAQ:CDEV) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 5,394 shares of the oil and natural gas company’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds have also modified their holdings of CDEV. Two Sigma Advisers LP raised its position in shares of Centennial Resource Development by 103.3% during the fourth quarter. Two Sigma Advisers LP now owns 262,400 shares of the oil and natural gas company’s stock worth $2,892,000 after acquiring an additional 133,300 shares during the last quarter. Ffcm LLC bought a new stake in shares of Centennial Resource Development during the fourth quarter worth $100,000. BlackRock Inc. raised its position in shares of Centennial Resource Development by 7.2% during the fourth quarter. BlackRock Inc. now owns 8,453,179 shares of the oil and natural gas company’s stock worth $93,155,000 after acquiring an additional 568,155 shares during the last quarter. BB&T Securities LLC raised its position in shares of Centennial Resource Development by 136.8% during the fourth quarter. BB&T Securities LLC now owns 29,219 shares of the oil and natural gas company’s stock worth $321,000 after acquiring an additional 16,879 shares during the last quarter. Finally, RR Advisors LLC bought a new stake in shares of Centennial Resource Development during the fourth quarter worth $1,929,000. Hedge funds and other institutional investors own 99.45% of the company’s stock.

Shares of Centennial Resource Development stock opened at $6.40 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.27. Centennial Resource Development Inc has a 12 month low of $6.22 and a 12 month high of $23.12. The firm has a market cap of $1.77 billion, a P/E ratio of 8.53, a P/E/G ratio of 0.88 and a beta of 2.15.

Centennial Resource Development (NASDAQ:CDEV) last announced its quarterly earnings data on Monday, May 6th. The oil and natural gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. Centennial Resource Development had a return on equity of 5.04% and a net margin of 14.13%. The business had revenue of $214.57 million during the quarter, compared to analysts’ expectations of $211.08 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Centennial Resource Development Inc will post 0.45 earnings per share for the current fiscal year.

CDEV has been the subject of a number of recent research reports. Bank of America set a $15.00 target price on Centennial Resource Development and gave the stock a “hold” rating in a research report on Tuesday, February 26th. Seaport Global Securities set a $15.00 target price on Centennial Resource Development and gave the stock a “buy” rating in a research report on Tuesday, February 26th. BidaskClub upgraded Centennial Resource Development from a “sell” rating to a “hold” rating in a research report on Saturday, May 18th. Cowen downgraded Centennial Resource Development from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $15.00 to $11.00 in a research report on Wednesday, February 27th. Finally, TheStreet downgraded Centennial Resource Development from a “c-” rating to a “d+” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $17.82.

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Centennial Resource Development Profile

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.

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Institutional Ownership by Quarter for Centennial Resource Development (NASDAQ:CDEV)

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