Centennial Resource Dev (CDEV) Stock Rating Lowered by BidaskClub

Centennial Resource Dev (NASDAQ:CDEV) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus set a $28.00 price objective on shares of Centennial Resource Dev and gave the company a “buy” rating in a report on Wednesday, March 28th. Johnson Rice began coverage on shares of Centennial Resource Dev in a report on Wednesday, March 21st. They issued a “buy” rating and a $25.00 price objective for the company. BMO Capital Markets upgraded shares of Centennial Resource Dev from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Tuesday, March 13th. UBS began coverage on shares of Centennial Resource Dev in a report on Wednesday, March 7th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, ValuEngine cut shares of Centennial Resource Dev from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating and nineteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.12.

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NASDAQ CDEV opened at $16.75 on Friday. Centennial Resource Dev has a 52 week low of $14.10 and a 52 week high of $22.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $4,717.33, a price-to-earnings ratio of 59.82, a PEG ratio of 0.55 and a beta of 1.60.

Centennial Resource Dev (NASDAQ:CDEV) last posted its quarterly earnings data on Monday, February 26th. The oil and natural gas company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $166.13 million during the quarter, compared to analysts’ expectations of $152.13 million. Centennial Resource Dev had a net margin of 17.58% and a return on equity of 2.42%. equities analysts expect that Centennial Resource Dev will post 0.7 earnings per share for the current year.

In related news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $19.50, for a total transaction of $419,355,631.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 44.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in CDEV. Public Employees Retirement Association of Colorado lifted its stake in Centennial Resource Dev by 123.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 7,781 shares of the oil and natural gas company’s stock valued at $154,000 after purchasing an additional 4,298 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Centennial Resource Dev by 44.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,033 shares of the oil and natural gas company’s stock valued at $159,000 after purchasing an additional 2,490 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of Centennial Resource Dev in the 4th quarter valued at approximately $175,000. Prudential Financial Inc. purchased a new stake in shares of Centennial Resource Dev in the 3rd quarter valued at approximately $189,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Centennial Resource Dev in the 4th quarter valued at approximately $192,000. 91.18% of the stock is owned by institutional investors and hedge funds.

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Centennial Resource Dev Company Profile

Centennial Resource Development, Inc, together with its subsidiary, Centennial Resource Production, LLC, operates as an independent oil and natural gas company in the United States. It focuses on the development of unconventional oil and associated liquids-rich natural gas reserves located in the Permian Basin.

Analyst Recommendations for Centennial Resource Dev (NASDAQ:CDEV)

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