Cubist Systematic Strategies LLC lowered its position in Centennial Resource Development Inc (NASDAQ:CDEV) by 76.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,585 shares of the oil and natural gas company’s stock after selling 17,915 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Centennial Resource Development were worth $101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CDEV. Frontier Capital Management Co. LLC purchased a new stake in Centennial Resource Development in the second quarter valued at approximately $81,270,000. Millennium Management LLC lifted its stake in Centennial Resource Development by 375.0% in the first 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 buying an additional 1,762,800 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in Centennial Resource Development in the second quarter valued at approximately $23,479,000. BlackRock Inc. lifted 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 buying an additional 866,574 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Centennial Resource Development by 42.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,556,854 shares of the oil and natural gas company’s stock valued at $46,183,000 after buying an additional 757,987 shares during the last quarter. Institutional investors own 94.38% of the company’s stock.

CDEV has been the topic of a number of recent research reports. SunTrust Banks initiated coverage on Centennial Resource Development in a report on Friday, June 15th. They issued a “hold” rating and a $20.00 target price on the stock. BidaskClub raised Centennial Resource Development from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. ValuEngine raised Centennial Resource Development from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. TD Securities initiated coverage on Centennial Resource Development in a report on Thursday, July 5th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Susquehanna Bancshares initiated coverage on Centennial Resource Development in a report on Wednesday, July 11th. They issued a “neutral” rating and a $21.00 target price on the stock. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Centennial Resource Development has a consensus rating of “Buy” and an average price target of $24.74.

Shares of CDEV stock opened at $20.92 on Friday. Centennial Resource Development Inc has a 1-year low of $15.78 and a 1-year high of $23.12. The firm has a market cap of $6.03 billion, a P/E ratio of 74.71 and a beta of 1.28. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13.

Centennial Resource Development (NASDAQ:CDEV) last announced its quarterly earnings data on Monday, August 6th. The oil and natural gas company reported $0.24 earnings per share for the quarter, topping 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 analyst estimates of $220.58 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. Centennial Resource Development’s quarterly revenue was up 139.1% on a year-over-year basis. Equities analysts predict that Centennial Resource Development Inc will post 0.95 EPS for the current fiscal year.

Centennial Resource Development Profile

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.

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

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