Centennial Res (NASDAQ:CDEV) has been assigned a $18.00 target price by research analysts at BMO Capital Markets in a report released on Saturday. The brokerage currently has a “hold” rating on the oil and natural gas company’s stock. BMO Capital Markets’ price target suggests a potential upside of 7.59% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Citigroup Inc. started coverage on Centennial Res in a research note on Monday, May 1st. They issued a “buy” rating and a $21.00 price target on the stock. Zacks Investment Research cut Centennial Res from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Scotiabank reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Centennial Res in a research note on Saturday, July 22nd. J P Morgan Chase & Co started coverage on Centennial Res in a research note on Tuesday, August 1st. They issued an “overweight” rating and a $19.00 price target on the stock. Finally, Scotia Howard Weill started coverage on Centennial Res in a research note on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. Centennial Res currently has an average rating of “Buy” and an average target price of $22.18.

Centennial Res (NASDAQ:CDEV) opened at 16.73 on Friday. The stock has a 50 day moving average price of $15.92 and a 200 day moving average price of $16.99. Centennial Res has a 1-year low of $11.80 and a 1-year high of $20.97. The firm has a market cap of $4.29 billion, a P/E ratio of 84.07 and a beta of 2.14.

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

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In other Centennial Res news, COO Sean R. Smith bought 10,000 shares of Centennial Res stock in a transaction dated Monday, June 5th. The shares were purchased at an average cost of $15.05 per share, with a total value of $150,500.00. Following the completion of the purchase, the chief operating officer now owns 21,540 shares of the company’s stock, valued at $324,177. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 44.70% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of CDEV. Washington Trust Bank boosted its stake in shares of Centennial Res by 1.8% in the second quarter. Washington Trust Bank now owns 12,514 shares of the oil and natural gas company’s stock valued at $198,000 after buying an additional 227 shares during the last quarter. Fayez Sarofim & Co boosted its stake in shares of Centennial Res by 1.9% in the first quarter. Fayez Sarofim & Co now owns 13,350 shares of the oil and natural gas company’s stock valued at $243,000 after buying an additional 250 shares during the last quarter. Seven Bridges Advisors LLC boosted its stake in shares of Centennial Res by 16.8% in the second quarter. Seven Bridges Advisors LLC now owns 8,244 shares of the oil and natural gas company’s stock valued at $130,000 after buying an additional 1,184 shares during the last quarter. Howard Hughes Medical Institute boosted its stake in shares of Centennial Res by 9.7% in the second quarter. Howard Hughes Medical Institute now owns 18,917 shares of the oil and natural gas company’s stock valued at $299,000 after buying an additional 1,680 shares during the last quarter. Finally, Great West Life Assurance Co. Can purchased a new stake in shares of Centennial Res during the second quarter valued at $158,000.

About Centennial Res

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.

Analyst Recommendations for Centennial Res (NASDAQ:CDEV)

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