Two Sigma Investments LP Invests $3.73 Million in Centennial Resource Development Inc (CDEV)

Two Sigma Investments LP acquired a new position in shares of Centennial Resource Development Inc (NASDAQ:CDEV) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 188,148 shares of the oil and natural gas company’s stock, valued at approximately $3,725,000. Two Sigma Investments LP owned 0.07% of Centennial Resource Development as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its position in shares of Centennial Resource Development by 90.7% during the 3rd 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 buying an additional 249,819 shares during the period. Neuberger Berman Group LLC grew its position in shares of Centennial Resource Development by 8.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,981,444 shares of the oil and natural gas company’s stock worth $53,577,000 after buying an additional 227,753 shares during the period. Bank of New York Mellon Corp grew its position in shares of Centennial Resource Development by 12.1% during the 3rd 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 buying an additional 47,194 shares during the period. Navellier & Associates Inc grew its position in shares of Centennial Resource Development by 10.9% during the 4th quarter. Navellier & Associates Inc now owns 29,913 shares of the oil and natural gas company’s stock worth $592,000 after buying an additional 2,951 shares during the period. Finally, Jackson Square Partners LLC bought a new position in shares of Centennial Resource Development in the 3rd quarter worth $909,000. 91.18% of the stock is owned by institutional investors.

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Centennial Resource Development Inc (NASDAQ:CDEV) opened at $18.19 on Monday. 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 Development Inc has a 52 week low of $14.10 and a 52 week high of $22.14. The firm has a market capitalization of $5,020.97, a price-to-earnings ratio of 64.96, a price-to-earnings-growth ratio of 0.58 and a beta of 1.56.

In other Centennial Resource Development news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $19.50, for a total transaction of $419,355,631.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 44.70% of the stock is currently owned by company insiders.

CDEV has been the topic of a number of recent research reports. Royal Bank of Canada initiated coverage on Centennial Resource Development in a report on Friday, February 16th. They issued an “outperform” rating and a $26.00 target price on the stock. Seaport Global Securities upgraded Centennial Resource Development from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, December 19th. BidaskClub cut Centennial Resource Development from a “hold” rating to a “sell” rating in a report on Saturday, March 10th. Zacks Investment Research upgraded Centennial Resource Development from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Monday, January 29th. Finally, Guggenheim initiated coverage on Centennial Resource Development in a report on Monday, January 29th. They issued a “buy” rating and a $29.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.21.

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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.

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

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