Jackson Square Partners LLC Invests $909,000 in Centennial Resource Development Inc (CDEV) Stock

Jackson Square Partners LLC acquired a new position in shares of Centennial Resource Development Inc (NASDAQ:CDEV) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 50,627 shares of the oil and natural gas company’s stock, valued at approximately $909,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDEV. Seven Bridges Advisors LLC increased its holdings in shares of Centennial Resource Development by 16.8% in the 2nd quarter. Seven Bridges Advisors LLC now owns 8,244 shares of the oil and natural gas company’s stock valued at $130,000 after acquiring an additional 1,184 shares during the period. Royal Bank of Canada increased its holdings in shares of Centennial Resource Development by 9.9% in the 2nd quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock valued at $145,000 after acquiring an additional 830 shares during the period. Great West Life Assurance Co. Can purchased a new position in shares of Centennial Resource Development in the 2nd quarter valued at $158,000. Cipher Capital LP purchased a new position in shares of Centennial Resource Development in the 2nd quarter valued at $182,000. Finally, Comerica Bank purchased a new position in shares of Centennial Resource Development in the 2nd quarter valued at $184,000. Institutional investors own 93.48% of the company’s stock.

Shares of Centennial Resource Development Inc (NASDAQ:CDEV) opened at $18.88 on Friday. Centennial Resource Development Inc has a 52-week low of $14.10 and a 52-week high of $22.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.43 and a quick ratio of 0.43.

A number of research analysts have recently issued reports on CDEV shares. Wolfe Research started coverage on Centennial Resource Development in a report on Tuesday, November 14th. They issued an “outperform” rating on the stock. KLR Group initiated coverage on Centennial Resource Development in a report on Monday, September 25th. They issued a “buy” rating and a $30.00 price target on the stock. Zacks Investment Research cut Centennial Resource Development from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Bank of America initiated coverage on Centennial Resource Development in a research report on Monday, October 16th. They issued a “buy” rating for the company. Finally, BMO Capital Markets set a $18.00 price objective on Centennial Resource Development and gave the stock a “hold” rating in a research report on Saturday, August 12th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $22.50.

WARNING: “Jackson Square Partners LLC Invests $909,000 in Centennial Resource Development Inc (CDEV) Stock” was posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this news story can be viewed at https://www.chaffeybreeze.com/2017/12/08/jackson-square-partners-llc-invests-909000-in-centennial-resource-development-inc-cdev-stock.html.

About Centennial Resource Development

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.

Want to see what other hedge funds are holding CDEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centennial Resource Development Inc (NASDAQ:CDEV).

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

Receive News & Ratings for Centennial Resource Development Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centennial Resource Development Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply