Centennial Resource Development Inc (NASDAQ:CDEV)’s share price gapped up before the market opened on Monday . The stock had previously closed at $20.27, but opened at $20.83. Centennial Resource Development shares last traded at $21.47, with a volume of 2100500 shares trading hands.

A number of equities analysts have weighed in on CDEV shares. National Alliance Securities reiterated a “hold” rating on shares of Centennial Resource Development in a research note on Saturday, June 2nd. KLR Group reiterated a “buy” rating and set a $29.00 price objective on shares of Centennial Resource Development in a research note on Monday, August 20th. Royal Bank of Canada reiterated a “buy” rating and set a $28.00 price objective on shares of Centennial Resource Development in a research note on Friday, July 13th. TD Securities started coverage on Centennial Resource Development in a research note on Thursday, July 5th. They set a “buy” rating and a $23.00 price objective for the company. Finally, Barclays started coverage on Centennial Resource Development in a research note on Wednesday, August 29th. They set an “overweight” rating and a $24.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $24.42.

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.75 billion, a P/E ratio of 76.68 and a beta of 1.38.

Centennial Resource Development (NASDAQ:CDEV) last posted its earnings results on Monday, August 6th. The oil and natural gas company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. Centennial Resource Development had a return on equity of 5.68% and a net margin of 24.55%. The firm had revenue of $217.76 million for the quarter, compared to analysts’ expectations of $220.58 million. During the same period last year, the firm earned $0.09 EPS. The company’s quarterly revenue was up 139.1% on a year-over-year basis. research analysts forecast that Centennial Resource Development Inc will post 0.94 EPS for the current year.

Several large investors have recently bought and sold shares of CDEV. JPMorgan Chase & Co. grew its position in shares of Centennial Resource Development by 5,006.6% during the 1st 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 acquiring an additional 10,501,529 shares during the period. Frontier Capital Management Co. LLC acquired a new stake in shares of Centennial Resource Development during the 2nd quarter valued at about $81,270,000. Point72 Asset Management L.P. grew its position in shares of Centennial Resource Development by 325,160,300.0% during the 1st 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 acquiring an additional 3,251,603 shares during the period. Millennium Management LLC grew its position in shares of Centennial Resource Development by 375.0% during the 1st quarter. Millennium Management LLC now owns 2,232,930 shares of the oil and natural gas company’s stock valued at $40,974,000 after acquiring an additional 1,762,800 shares during the period. Finally, OppenheimerFunds Inc. acquired a new stake in shares of Centennial Resource Development during the 2nd quarter valued at about $23,479,000. Hedge funds and other institutional investors own 94.38% of the company’s stock.

About Centennial Resource Development (NASDAQ:CDEV)

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.

Read More: Book Value Per Share – BVPS

Receive News & Ratings for Centennial Resource Development Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centennial Resource Development and related companies with MarketBeat.com's FREE daily email newsletter.