Centennial Resource Dev (NASDAQ:CDEV) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other research firms have also recently weighed in on CDEV. Stifel Nicolaus set a $25.00 target price on Centennial Resource Dev and gave the company a “buy” rating in a research note on Tuesday, January 30th. Zacks Investment Research raised Centennial Resource Dev from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Monday, January 29th. Guggenheim began coverage on Centennial Resource Dev in a research note on Monday, January 29th. They set a “buy” rating and a $29.00 target price on the stock. Deutsche Bank began coverage on Centennial Resource Dev in a research note on Thursday, February 1st. They set a “buy” rating and a $26.00 target price on the stock. Finally, ValuEngine cut Centennial Resource Dev from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $24.12.
NASDAQ:CDEV opened at $18.92 on Friday. 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. The stock has a market cap of $5,139.66, a price-to-earnings ratio of 67.57, a price-to-earnings-growth ratio of 0.59 and a beta of 1.60.
Centennial Resource Dev (NASDAQ:CDEV) last released its earnings results on Monday, February 26th. The oil and natural gas company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Centennial Resource Dev had a return on equity of 2.42% and a net margin of 17.58%. The company had revenue of $166.13 million for the quarter, compared to analysts’ expectations of $152.13 million. equities analysts forecast that Centennial Resource Dev will post 0.71 earnings per share for the current fiscal year.
In related news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $19.50, for a total value of $419,355,631.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 44.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CDEV. Bank of New York Mellon Corp boosted its position in Centennial Resource Dev by 12.1% during the third quarter. Bank of New York Mellon Corp now owns 438,683 shares of the oil and natural gas company’s stock worth $7,883,000 after purchasing an additional 47,194 shares during the period. Wells Fargo & Company MN boosted its position in Centennial Resource Dev by 30.3% during the third quarter. Wells Fargo & Company MN now owns 102,657 shares of the oil and natural gas company’s stock worth $1,845,000 after purchasing an additional 23,849 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Centennial Resource Dev by 90.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 525,372 shares of the oil and natural gas company’s stock worth $9,441,000 after purchasing an additional 249,819 shares during the period. Dimensional Fund Advisors LP bought a new stake in Centennial Resource Dev during the third quarter worth approximately $12,343,000. Finally, Allianz Asset Management GmbH bought a new stake in Centennial Resource Dev during the third quarter worth approximately $2,365,000. 91.21% of the stock is owned by hedge funds and other institutional investors.
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About Centennial Resource Dev
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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