Cetera Investment Advisers acquired a new position in shares of Centennial Res (NASDAQ:CDEV) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 18,417 shares of the oil and natural gas company’s stock, valued at approximately $291,000.

Several other large investors have also modified their holdings of CDEV. BlackRock Inc. increased its position in shares of Centennial Res by 175.1% during the 2nd quarter. BlackRock Inc. now owns 5,992,125 shares of the oil and natural gas company’s stock worth $94,795,000 after purchasing an additional 3,814,249 shares during the last quarter. Vanguard Group Inc. grew its position in Centennial Res by 66.9% in the 1st quarter. Vanguard Group Inc. now owns 7,747,736 shares of the oil and natural gas company’s stock valued at $141,241,000 after acquiring an additional 3,106,958 shares in the last quarter. State Street Corp grew its position in Centennial Res by 191.3% in the 2nd quarter. State Street Corp now owns 3,084,242 shares of the oil and natural gas company’s stock valued at $48,795,000 after acquiring an additional 2,025,288 shares in the last quarter. Balyasny Asset Management LLC acquired a new position in Centennial Res in the 2nd quarter valued at about $14,376,000. Finally, Neuberger Berman Group LLC grew its position in Centennial Res by 37.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,753,691 shares of the oil and natural gas company’s stock valued at $43,563,000 after acquiring an additional 756,938 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on CDEV shares. Howard Weil started coverage on Centennial Res in a research report on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 target price for the company. Scotia Howard Weill started coverage on Centennial Res in a research report on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 target price for the company. Zacks Investment Research downgraded Centennial Res from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Scotiabank reaffirmed an “outperform” rating and issued a $21.00 target price on shares of Centennial Res in a research report on Saturday, July 22nd. Finally, KLR Group started coverage on Centennial Res in a research report on Monday, September 25th. They issued a “buy” rating and a $30.00 target price for the company. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $22.43.

Centennial Res (NASDAQ CDEV) opened at 18.55 on Friday. The stock has a 50 day moving average price of $18.23 and a 200 day moving average price of $18.23. Centennial Res has a 52 week low of $13.31 and a 52 week high of $20.97. The stock has a market cap of $4.76 billion, a PE ratio of 93.22 and a beta of 2.07.

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

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Centennial Res 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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Institutional Ownership by Quarter for Centennial Res (NASDAQ:CDEV)

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