Centennial Resource Development Inc (CDEV) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in Centennial Resource Development Inc (NASDAQ:CDEV) by 3.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 343,850 shares of the oil and natural gas company’s stock after selling 14,000 shares during the period. New York State Common Retirement Fund’s holdings in Centennial Resource Development were worth $3,789,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CDEV. Bank of New York Mellon Corp increased its holdings in shares of Centennial Resource Development by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 689,215 shares of the oil and natural gas company’s stock valued at $12,448,000 after purchasing an additional 51,153 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Centennial Resource Development by 187.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 233,627 shares of the oil and natural gas company’s stock valued at $5,101,000 after purchasing an additional 152,392 shares in the last quarter. US Bancorp DE purchased a new position in shares of Centennial Resource Development during the 3rd quarter valued at approximately $239,000. Wells Fargo & Company MN increased its holdings in shares of Centennial Resource Development by 35.2% during the 3rd quarter. Wells Fargo & Company MN now owns 389,066 shares of the oil and natural gas company’s stock valued at $8,502,000 after purchasing an additional 101,335 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of Centennial Resource Development during the 3rd quarter valued at approximately $9,136,000.

Shares of NASDAQ CDEV opened at $9.27 on Tuesday. The firm has a market capitalization of $2.54 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.50 and a beta of 1.84. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.21. Centennial Resource Development Inc has a one year low of $8.28 and a one year high of $23.12.

Centennial Resource Development (NASDAQ:CDEV) last issued its quarterly earnings results on Monday, February 25th. The oil and natural gas company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.03). Centennial Resource Development had a return on equity of 6.51% and a net margin of 22.43%. The company had revenue of $222.50 million during the quarter, compared to analysts’ expectations of $238.16 million. Centennial Resource Development’s revenue was up 34.0% on a year-over-year basis. Equities research analysts expect that Centennial Resource Development Inc will post 0.36 earnings per share for the current year.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Centennial Resource Development from a “hold” rating to a “strong sell” rating in a report on Friday, November 30th. Credit Suisse Group set a $12.00 price target on shares of Centennial Resource Development and gave the stock a “hold” rating in a report on Tuesday, February 26th. JPMorgan Chase & Co. set a $17.00 price target on shares of Centennial Resource Development and gave the stock a “buy” rating in a report on Friday, December 7th. BidaskClub lowered shares of Centennial Resource Development from a “sell” rating to a “strong sell” rating in a report on Thursday, December 13th. Finally, Ifs Securities reissued a “strong-buy” rating on shares of Centennial Resource Development in a report on Sunday, February 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $19.61.

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Centennial Resource Development Company Profile

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.

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

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