Citadel Advisors LLC decreased its stake in Centennial Resource Development Inc (NASDAQ:CDEV) by 12.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,673 shares of the oil and natural gas company’s stock after selling 2,854 shares during the quarter. Citadel Advisors LLC’s holdings in Centennial Resource Development were worth $371,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Centennial Resource Development by 9.9% during the 2nd quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock worth $145,000 after purchasing an additional 830 shares during the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of Centennial Resource Development during the 2nd quarter worth $158,000. Cipher Capital LP acquired a new position in shares of Centennial Resource Development during the 2nd quarter worth $182,000. Comerica Bank acquired a new position in shares of Centennial Resource Development during the 2nd quarter worth $184,000. Finally, Prudential Financial Inc. acquired a new position in shares of Centennial Resource Development during the 3rd quarter worth $189,000. Institutional investors own 93.48% of the company’s stock.

Centennial Resource Development Inc (NASDAQ:CDEV) opened at $19.35 on Thursday. Centennial Resource Development Inc has a 12 month low of $14.10 and a 12 month high of $22.11. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.06.

Several research analysts have recently commented on CDEV shares. Zacks Investment Research lowered shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Wolfe Research assumed coverage on shares of Centennial Resource Development in a research note on Tuesday, November 14th. They set an “outperform” rating on the stock. Stifel Nicolaus set a $21.00 target price on shares of Centennial Resource Development and gave the company a “buy” rating in a research note on Thursday, October 5th. Seaport Global Securities assumed coverage on shares of Centennial Resource Development in a research note on Thursday, September 28th. They issued a “neutral” rating and a $19.00 target price on the stock. Finally, Bank of America assumed coverage on shares of Centennial Resource Development in a research note on Monday, October 16th. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $22.47.

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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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