Centennial Resource Development (CDEV) Raised to Hold at BidaskClub
BidaskClub upgraded shares of Centennial Resource Development (NASDAQ:CDEV) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.
A number of other brokerages have also recently issued reports on CDEV. Stifel Nicolaus set a $25.00 target price on Centennial Resource Development and gave the stock a buy rating in a report on Tuesday, January 30th. Zacks Investment Research upgraded Centennial Resource Development from a hold rating to a buy rating and set a $23.00 target price for the company in a report on Monday, January 29th. Scotiabank reiterated a buy rating and set a $22.00 target price on shares of Centennial Resource Development in a report on Tuesday, November 7th. Guggenheim began coverage on Centennial Resource Development in a report on Monday, January 29th. They set a buy rating and a $29.00 target price for the company. Finally, Deutsche Bank began coverage on Centennial Resource Development in a report on Thursday, February 1st. They set a buy rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the stock. Centennial Resource Development has a consensus rating of Buy and a consensus target price of $24.17.
Shares of Centennial Resource Development (NASDAQ CDEV) opened at $19.93 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Centennial Resource Development has a fifty-two week low of $14.10 and a fifty-two week high of $22.14. The stock has a market capitalization of $5,501.26, a PE ratio of 71.18, a PEG ratio of 0.61 and a beta of 1.56.
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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