Wells Fargo & Company MN grew its holdings in shares of Centennial Resource Development Inc (NASDAQ:CDEV) by 30.3% during the third quarter, HoldingsChannel.com reports. The firm owned 102,657 shares of the oil and natural gas company’s stock after purchasing an additional 23,849 shares during the quarter. Wells Fargo & Company MN’s holdings in Centennial Resource Development were worth $1,845,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CDEV. Royal Bank of Canada lifted 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 period. Comerica Bank purchased a new position in shares of Centennial Resource Development during the 2nd quarter worth $184,000. Prudential Financial Inc. purchased a new position in shares of Centennial Resource Development during the 3rd quarter worth $189,000. Quantbot Technologies LP purchased a new position in shares of Centennial Resource Development during the 3rd quarter worth $198,000. Finally, QS Investors LLC purchased a new position in shares of Centennial Resource Development during the 2nd quarter worth $233,000. 93.44% of the stock is currently owned by institutional investors.

A number of brokerages have weighed in on CDEV. Scotiabank reissued a “buy” rating and set a $22.00 price target on shares of Centennial Resource Development in a research note on Tuesday, November 7th. BidaskClub raised Centennial Resource Development from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Wolfe Research began coverage on Centennial Resource Development in a research note on Tuesday, November 14th. They set an “outperform” rating on the stock. Zacks Investment Research lowered Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Credit Suisse Group began coverage on Centennial Resource Development in a research note on Monday, December 11th. They set an “outperform” rating and a $22.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $22.47.

Shares of Centennial Resource Development Inc (NASDAQ CDEV) opened at $20.44 on Thursday. The company has a market capitalization of $5,250.00 and a price-to-earnings ratio of -17.93. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06. Centennial Resource Development Inc has a twelve month low of $14.10 and a twelve month high of $22.11.

Centennial Resource Development (NASDAQ:CDEV) last released its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Centennial Resource Development had a negative return on equity of 5.52% and a negative net margin of 49.20%. research analysts predict that Centennial Resource Development Inc will post 0.27 earnings per share for the current year.

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Centennial Resource Development Company 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 Resource Development (NASDAQ:CDEV)

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