State of Alaska Department of Revenue acquired a new position in shares of Centennial Resource Development Inc (NASDAQ:CDEV) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,700 shares of the oil and natural gas company’s stock, valued at approximately $192,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in Centennial Resource Development by 9.9% during the second 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. Prudential Financial Inc. bought a new stake in Centennial Resource Development during the third quarter worth about $189,000. Quantbot Technologies LP bought a new stake in Centennial Resource Development during the third quarter worth about $198,000. QS Investors LLC bought a new stake in Centennial Resource Development during the second quarter worth about $233,000. Finally, Teton Advisors Inc. bought a new stake in Centennial Resource Development during the third quarter worth about $238,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on CDEV shares. Zacks Investment Research cut shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Wolfe Research started coverage on shares of Centennial Resource Development in a report on Tuesday, November 14th. They issued an “outperform” rating for the company. Seaport Global Securities raised shares of Centennial Resource Development from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a report on Tuesday, December 19th. BidaskClub raised shares of Centennial Resource Development from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Finally, Guggenheim started coverage on shares of Centennial Resource Development in a report on Monday, January 29th. They issued a “buy” rating and a $29.00 target price for the company. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Centennial Resource Development presently has a consensus rating of “Buy” and an average price target of $23.47.

Centennial Resource Development Inc (CDEV) opened at $18.33 on Friday. 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 fifty-two week low of $14.10 and a fifty-two week high of $22.14.

Centennial Resource Development (NASDAQ:CDEV) last issued its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Centennial Resource Development had a negative net margin of 49.20% and a negative return on equity of 5.52%. equities research analysts forecast that Centennial Resource Development Inc will post 0.28 EPS for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Centennial Resource Development (NASDAQ:CDEV)

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