Brown Advisory Inc. bought a new position in shares of Centennial Resource Development Inc (NASDAQ:CDEV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,646 shares of the oil and natural gas company’s stock, valued at approximately $228,000.

Several other hedge funds have also recently added to or reduced their stakes in CDEV. JPMorgan Chase & Co. increased its stake in Centennial Resource Development by 5,006.6% in the first quarter. JPMorgan Chase & Co. now owns 10,711,283 shares of the oil and natural gas company’s stock valued at $196,552,000 after purchasing an additional 10,501,529 shares during the last quarter. BlackRock Inc. increased its stake in Centennial Resource Development by 13.1% in the second quarter. BlackRock Inc. now owns 7,488,572 shares of the oil and natural gas company’s stock valued at $135,243,000 after purchasing an additional 866,574 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Centennial Resource Development by 29.6% in the first quarter. Neuberger Berman Group LLC now owns 5,119,911 shares of the oil and natural gas company’s stock valued at $93,950,000 after purchasing an additional 1,168,756 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new position in Centennial Resource Development in the second quarter valued at approximately $81,270,000. Finally, Point72 Asset Management L.P. increased its stake in Centennial Resource Development by 325,160,300.0% in the first quarter. Point72 Asset Management L.P. now owns 3,251,604 shares of the oil and natural gas company’s stock valued at $59,667,000 after purchasing an additional 3,251,603 shares during the last quarter. Hedge funds and other institutional investors own 94.39% of the company’s stock.

Several brokerages have commented on CDEV. BidaskClub upgraded shares of Centennial Resource Development from a “hold” rating to a “buy” rating in a research note on Wednesday. TheStreet upgraded shares of Centennial Resource Development from a “c” rating to a “b-” rating in a research note on Friday, August 31st. SunTrust Banks upgraded shares of Centennial Resource Development from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, September 7th. National Alliance Securities lowered shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. Finally, ValuEngine upgraded shares of Centennial Resource Development from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Centennial Resource Development has a consensus rating of “Buy” and a consensus price target of $24.42.

CDEV stock opened at $21.12 on Friday. The company has a market capitalization of $5.80 billion, a PE ratio of 75.43 and a beta of 1.38. Centennial Resource Development Inc has a twelve month low of $15.78 and a twelve month high of $22.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.89.

Centennial Resource Development (NASDAQ:CDEV) last posted its quarterly earnings data on Monday, August 6th. The oil and natural gas company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business had revenue of $217.76 million during the quarter, compared to the consensus estimate of $220.58 million. Centennial Resource Development had a return on equity of 5.68% and a net margin of 24.55%. The company’s revenue was up 139.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. sell-side analysts predict that Centennial Resource Development Inc will post 0.94 EPS for the current year.

Centennial Resource Development Profile

Centennial Resource Development, Inc, together with its subsidiary, Centennial Resource Production, LLC, operates as an independent oil and natural gas company in the United States. It focuses on the development of unconventional oil and associated liquids-rich natural gas reserves located in the Permian Basin.

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

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