Navellier & Associates Inc acquired a new stake in CENTENNIAL RES (NASDAQ:CDEV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,414 shares of the oil and natural gas company’s stock, valued at approximately $402,000.
Other hedge funds have also recently made changes to their positions in the company. Clinton Group Inc. acquired a new stake in CENTENNIAL RES during the second quarter worth about $364,000. Neuberger Berman Group LLC grew its holdings in CENTENNIAL RES by 37.9% during the second 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 acquiring an additional 756,938 shares during the period. Airain ltd acquired a new stake in CENTENNIAL RES during the second quarter worth about $1,823,000. Vanguard Group Inc. grew its holdings in CENTENNIAL RES by 66.9% during the first quarter. Vanguard Group Inc. now owns 7,747,736 shares of the oil and natural gas company’s stock worth $141,241,000 after acquiring an additional 3,106,958 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in CENTENNIAL RES by 28.3% during the first 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 acquiring an additional 32,327 shares during the period. 90.61% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. Imperial Capital began coverage on CENTENNIAL RES in a report on Friday, August 18th. They set an “outperform” rating and a $22.00 target price on the stock. Howard Weil began coverage on CENTENNIAL RES in a report on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 price objective on the stock. Stifel Nicolaus set a $21.00 price objective on CENTENNIAL RES and gave the company a “buy” rating in a report on Thursday, October 5th. BMO Capital Markets set a $18.00 price objective on CENTENNIAL RES and gave the company a “hold” rating in a report on Saturday, August 12th. Finally, Seaport Global Securities began coverage on CENTENNIAL RES in a research report on Thursday, September 28th. They issued a “neutral” rating and a $19.00 target price on the stock. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $22.43.
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CENTENNIAL RES (CDEV) traded up 2.86% during midday trading on Friday, reaching $19.05. The company’s stock had a trading volume of 1,470,590 shares. The company has a 50 day moving average price of $18.27 and a 200 day moving average price of $18.27. CENTENNIAL RES has a 1-year low of $13.31 and a 1-year high of $20.97. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 95.73 and a beta of 2.07.
CENTENNIAL RES (NASDAQ:CDEV) last announced its earnings results on Monday, August 7th. The oil and natural gas company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $91.06 million for the quarter, compared to the consensus estimate of $76.03 million. On average, equities research analysts expect that CENTENNIAL RES will post $0.18 EPS for the current year.
CENTENNIAL RES Company Profile
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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