Public Employees Retirement System of Ohio lowered its stake in Centennial Resource Development Inc (NASDAQ:CDEV) by 19.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,852 shares of the oil and natural gas company’s stock after selling 7,923 shares during the period. Public Employees Retirement System of Ohio’s holdings in Centennial Resource Development were worth $153,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Centennial Resource Development in the third quarter worth about $67,000. Verition Fund Management LLC acquired a new stake in shares of Centennial Resource Development in the second quarter worth about $79,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Centennial Resource Development by 18.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 22,199 shares of the oil and natural gas company’s stock worth $100,000 after buying an additional 3,491 shares during the last quarter. Signition LP lifted its position in shares of Centennial Resource Development by 32.4% in the third quarter. Signition LP now owns 22,560 shares of the oil and natural gas company’s stock worth $102,000 after buying an additional 5,521 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Centennial Resource Development in the second quarter worth about $116,000.

In other news, Director Steven J. Shapiro purchased 25,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $3.45 per share, for a total transaction of $86,250.00. Following the completion of the purchase, the director now directly owns 34,567 shares of the company’s stock, valued at approximately $119,256.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark G. Papa purchased 100,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $3.44 per share, for a total transaction of $344,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,063,817 shares of the company’s stock, valued at $7,099,530.48. The disclosure for this purchase can be found here. Insiders bought 190,500 shares of company stock worth $642,680 over the last quarter. 31.30% of the stock is currently owned by corporate insiders.

Centennial Resource Development stock opened at $3.83 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50-day simple moving average is $3.45 and its 200-day simple moving average is $5.06. The firm has a market capitalization of $1.06 billion, a PE ratio of 5.11, a PEG ratio of 3.08 and a beta of 1.85. Centennial Resource Development Inc has a 52 week low of $2.92 and a 52 week high of $14.21.

Centennial Resource Development (NASDAQ:CDEV) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $229.13 million during the quarter, compared to the consensus estimate of $227.52 million. Centennial Resource Development had a return on equity of 2.32% and a net margin of 4.08%. Research analysts forecast that Centennial Resource Development Inc will post 0.13 earnings per share for the current year.

A number of analysts have weighed in on CDEV shares. MKM Partners started coverage on Centennial Resource Development in a research report on Wednesday, September 4th. They issued a “buy” rating and a $7.00 price target for the company. ValuEngine raised Centennial Resource Development from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Bank of America set a $7.00 price target on Centennial Resource Development and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Piper Jaffray Companies set a $6.00 price target on Centennial Resource Development and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, TD Securities cut Centennial Resource Development from a “buy” rating to a “hold” rating and reduced their price target for the stock from $8.50 to $6.00 in a research report on Thursday, September 5th. Seventeen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Centennial Resource Development has a consensus rating of “Hold” and a consensus target price of $9.09.

About Centennial Resource Development

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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