Zurcher Kantonalbank Zurich Cantonalbank grew its position in Centennial Resource Development Inc (NASDAQ:CDEV) by 44.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,033 shares of the oil and natural gas company’s stock after acquiring an additional 2,490 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Centennial Resource Development were worth $159,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cypress Capital Management LLC WY bought a new position in Centennial Resource Development during the 4th quarter worth $230,000. TIAA FSB grew its stake in Centennial Resource Development by 3.4% during the 4th quarter. TIAA FSB now owns 81,403 shares of the oil and natural gas company’s stock worth $1,611,000 after buying an additional 2,647 shares during the last quarter. First Quadrant L P CA bought a new position in Centennial Resource Development during the 4th quarter worth $175,000. First Manhattan Co. grew its stake in Centennial Resource Development by 12.2% during the 4th quarter. First Manhattan Co. now owns 495,416 shares of the oil and natural gas company’s stock worth $9,809,000 after buying an additional 53,915 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Centennial Resource Development during the 4th quarter worth $192,000. Institutional investors and hedge funds own 88.67% of the company’s stock.
Centennial Resource Development Inc (CDEV) opened at $18.95 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.43 and a quick ratio of 0.43. Centennial Resource Development Inc has a 12-month low of $14.10 and a 12-month high of $22.14.
A number of brokerages recently commented on CDEV. BidaskClub downgraded Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Royal Bank of Canada assumed coverage on Centennial Resource Development in a research note on Friday, February 16th. They set an “outperform” rating and a $26.00 price objective for the company. Stifel Nicolaus set a $25.00 price target on Centennial Resource Development and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Citigroup reduced their price target on Centennial Resource Development from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Finally, Scotiabank reiterated a “buy” rating and set a $22.00 price target on shares of Centennial Resource Development in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $23.67.
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About Centennial Resource Development
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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