State of Wisconsin Investment Board Takes Position in Centennial Res (CDEV)

State of Wisconsin Investment Board acquired a new stake in Centennial Res (NASDAQ:CDEV) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 22,070 shares of the oil and natural gas company’s stock, valued at approximately $349,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDEV. Bank of Montreal Can bought a new stake in shares of Centennial Res in the 1st quarter valued at $586,000. SG Americas Securities LLC bought a new stake in shares of Centennial Res in the 1st quarter valued at $423,000. Schroder Investment Management Group increased its position in shares of Centennial Res by 0.8% in the 1st quarter. Schroder Investment Management Group now owns 1,854,732 shares of the oil and natural gas company’s stock valued at $33,496,000 after buying an additional 15,334 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Centennial Res by 38.3% in the 1st quarter. Neuberger Berman Group LLC now owns 1,996,753 shares of the oil and natural gas company’s stock valued at $36,401,000 after buying an additional 552,753 shares in the last quarter. Finally, FMR LLC increased its position in shares of Centennial Res by 22.0% in the 1st quarter. FMR LLC now owns 30,658,838 shares of the oil and natural gas company’s stock valued at $554,836,000 after buying an additional 5,518,614 shares in the last quarter. Institutional investors and hedge funds own 90.62% of the company’s stock.

A number of brokerages recently weighed in on CDEV. Zacks Investment Research raised shares of Centennial Res from a “sell” rating to a “hold” rating and set a $19.00 target price for the company in a research note on Thursday, September 7th. J P Morgan Chase & Co began coverage on shares of Centennial Res in a research note on Tuesday, August 1st. They issued an “overweight” rating and a $19.00 target price for the company. BMO Capital Markets set a $18.00 target price on shares of Centennial Res and gave the stock a “hold” rating in a research note on Saturday, August 12th. Scotia Howard Weill began coverage on shares of Centennial Res in a research note on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 target price for the company. Finally, Howard Weil began coverage on shares of Centennial Res in a research note on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 target price for the company. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $22.25.

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Centennial Res (NASDAQ CDEV) opened at 17.79 on Friday. Centennial Res has a 52 week low of $13.31 and a 52 week high of $20.97. The company has a 50-day moving average of $17.52 and a 200-day moving average of $18.18. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 89.40 and a beta of 2.10.

Centennial Res (NASDAQ:CDEV) last posted its quarterly earnings results on Monday, August 7th. The oil and natural gas company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $91.06 million during the quarter, compared to the consensus estimate of $76.03 million. On average, equities analysts forecast that Centennial Res will post $0.18 earnings per share for the current fiscal year.

Centennial Res Profile

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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Institutional Ownership by Quarter for Centennial Res (NASDAQ:CDEV)

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