Ellington Management Group LLC Purchases Shares of 23,200 Centennial Resource Dev (CDEV)

Ellington Management Group LLC purchased a new position in Centennial Resource Dev (NASDAQ:CDEV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,200 shares of the oil and natural gas company’s stock, valued at approximately $459,000.

A number of other large investors also recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in shares of Centennial Resource Dev by 9.9% during the second quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock valued at $145,000 after buying an additional 830 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Centennial Resource Dev by 44.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,033 shares of the oil and natural gas company’s stock valued at $159,000 after buying an additional 2,490 shares during the last quarter. TIAA FSB grew its holdings in shares of Centennial Resource Dev by 3.4% during the fourth quarter. TIAA FSB now owns 81,403 shares of the oil and natural gas company’s stock valued at $1,611,000 after buying an additional 2,647 shares during the last quarter. Navellier & Associates Inc grew its holdings in shares of Centennial Resource Dev by 10.9% during the fourth quarter. Navellier & Associates Inc now owns 29,913 shares of the oil and natural gas company’s stock valued at $592,000 after buying an additional 2,951 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of Centennial Resource Dev by 23.7% during the fourth quarter. Comerica Bank now owns 16,710 shares of the oil and natural gas company’s stock valued at $357,000 after buying an additional 3,199 shares during the last quarter. Institutional investors and hedge funds own 91.18% of the company’s stock.

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A number of research analysts have recently issued reports on CDEV shares. BidaskClub cut shares of Centennial Resource Dev from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Stifel Nicolaus set a $25.00 price objective on shares of Centennial Resource Dev and gave the company a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research cut shares of Centennial Resource Dev from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th. BMO Capital Markets upgraded shares of Centennial Resource Dev from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Tuesday, March 13th. Finally, Seaport Global Securities upgraded shares of Centennial Resource Dev from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating and nineteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $24.12.

Centennial Resource Dev stock opened at $16.75 on Friday. The stock has a market cap of $4,717.33, a P/E ratio of 59.82, a PEG ratio of 0.55 and a beta of 1.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. Centennial Resource Dev has a fifty-two week low of $14.10 and a fifty-two week high of $22.14.

Centennial Resource Dev (NASDAQ:CDEV) last announced its quarterly earnings data on Monday, February 26th. The oil and natural gas company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $166.13 million for the quarter, compared to analyst estimates of $152.13 million. Centennial Resource Dev had a net margin of 17.58% and a return on equity of 2.42%. research analysts anticipate that Centennial Resource Dev will post 0.7 earnings per share for the current year.

In other Centennial Resource Dev news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of Centennial Resource Dev stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $19.50, for a total value of $419,355,631.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 44.70% of the company’s stock.

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Centennial Resource Dev Company Profile

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.

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

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