Equities researchers at Wolfe Research assumed coverage on shares of Centennial Res (NASDAQ:CDEV) in a note issued to investors on Tuesday. The firm set an “outperform” rating on the oil and natural gas company’s stock.
CDEV has been the topic of a number of other research reports. Scotiabank restated a “buy” rating and issued a $22.00 price target on shares of Centennial Res in a research report on Tuesday, November 7th. Zacks Investment Research downgraded shares of Centennial Res from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Bank of America Corporation started coverage on shares of Centennial Res in a research report on Monday, October 16th. They issued a “buy” rating on the stock. Citigroup Inc. set a $22.00 target price on shares of Centennial Res and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, BMO Capital Markets set a $18.00 target price on shares of Centennial Res and gave the company a “hold” rating in a research report on Tuesday, October 10th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $22.50.
Shares of Centennial Res (CDEV) traded down $0.11 during trading on Tuesday, hitting $20.09. 2,709,700 shares of the company traded hands, compared to its average volume of 1,412,716. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.43. Centennial Res has a 12 month low of $13.31 and a 12 month high of $22.11.
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Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Centennial Res by 0.3% during the second quarter. Vanguard Group Inc. now owns 7,773,597 shares of the oil and natural gas company’s stock valued at $122,979,000 after purchasing an additional 25,861 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Centennial Res by 175.1% in the second quarter. BlackRock Inc. now owns 5,992,125 shares of the oil and natural gas company’s stock worth $94,795,000 after buying an additional 3,814,249 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Centennial Res in the third quarter worth about $72,858,000. State Street Corp lifted its holdings in shares of Centennial Res by 191.3% in the second quarter. State Street Corp now owns 3,084,242 shares of the oil and natural gas company’s stock worth $48,795,000 after buying an additional 2,025,288 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Centennial Res by 37.9% in the second quarter. Neuberger Berman Group LLC now owns 2,753,691 shares of the oil and natural gas company’s stock worth $43,563,000 after buying an additional 756,938 shares in the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.
Centennial Res Company 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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