Goldman Sachs Group Inc. increased its holdings in Centennial Resource Dev (NASDAQ:CDEV) by 220.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,208,931 shares of the oil and natural gas company’s stock after purchasing an additional 2,207,300 shares during the quarter. Goldman Sachs Group Inc. owned 1.16% of Centennial Resource Dev worth $63,536,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Centennial Resource Dev by 9.9% during the 2nd quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock worth $145,000 after buying an additional 830 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in Centennial Resource Dev by 123.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 7,781 shares of the oil and natural gas company’s stock worth $154,000 after buying an additional 4,298 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Centennial Resource Dev by 44.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,033 shares of the oil and natural gas company’s stock worth $159,000 after buying an additional 2,490 shares in the last quarter. First Quadrant L P CA purchased a new stake in Centennial Resource Dev during the 4th quarter worth approximately $175,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Centennial Resource Dev in the third quarter valued at approximately $189,000. 91.18% of the stock is owned by institutional investors.
Centennial Resource Dev stock traded down $0.78 during midday trading on Friday, reaching $16.75. The company’s stock had a trading volume of 2,900,549 shares, compared to its average volume of 2,035,482. Centennial Resource Dev has a fifty-two week low of $14.10 and a fifty-two week high of $22.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $4,623.49, a PE ratio of 59.82, a P/E/G ratio of 0.54 and a beta of 1.60.
Centennial Resource Dev (NASDAQ:CDEV) last posted its quarterly earnings results on Monday, February 26th. The oil and natural gas company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. The company had revenue of $166.13 million for the quarter, compared to analysts’ expectations of $152.13 million. Centennial Resource Dev had a return on equity of 2.42% and a net margin of 17.58%. research analysts expect that Centennial Resource Dev will post 0.7 earnings per share for the current fiscal year.
In other Centennial Resource Dev news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $19.50, for a total transaction of $419,355,631.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 44.70% of the company’s stock.
A number of research firms have recently issued reports on CDEV. BidaskClub upgraded Centennial Resource Dev from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. UBS began coverage on Centennial Resource Dev in a research report on Wednesday, March 7th. They issued a “buy” rating and a $24.00 price target for the company. Zacks Investment Research upgraded Centennial Resource Dev from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Monday, January 29th. Citigroup lowered their price objective on Centennial Resource Dev from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Finally, Stifel Nicolaus set a $28.00 price objective on Centennial Resource Dev and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Two analysts have rated the stock with a sell rating and nineteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $24.12.
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Centennial Resource Dev 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.
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