State Board of Administration of Florida Retirement System acquired a new position in CENTENNIAL RES (NASDAQ:CDEV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 135,039 shares of the oil and natural gas company’s stock, valued at approximately $2,136,000. State Board of Administration of Florida Retirement System owned about 0.07% of CENTENNIAL RES at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Seven Bridges Advisors LLC increased its stake in CENTENNIAL RES by 16.8% in the 2nd quarter. Seven Bridges Advisors LLC now owns 8,244 shares of the oil and natural gas company’s stock worth $130,000 after acquiring an additional 1,184 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in shares of CENTENNIAL RES during the 2nd quarter valued at approximately $158,000. Comerica Bank bought a new position in shares of CENTENNIAL RES during the 2nd quarter valued at approximately $184,000. Washington Trust Bank increased its position in shares of CENTENNIAL RES by 1.8% during the 2nd quarter. Washington Trust Bank now owns 12,514 shares of the oil and natural gas company’s stock valued at $198,000 after purchasing an additional 227 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of CENTENNIAL RES during the 2nd quarter valued at approximately $200,000. 90.62% of the stock is currently owned by institutional investors and hedge funds.

CENTENNIAL RES (NASDAQ:CDEV) opened at 17.02 on Tuesday. The firm has a 50-day moving average price of $16.59 and a 200 day moving average price of $16.78. The company has a market cap of $4.37 billion, a P/E ratio of 85.53 and a beta of 2.10. CENTENNIAL RES has a 12 month low of $13.31 and a 12 month high of $20.97.

CENTENNIAL RES (NASDAQ:CDEV) last posted its earnings results on Monday, August 7th. The oil and natural gas company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $91.06 million for the quarter, compared to analyst estimates of $76.03 million. Equities research analysts predict that CENTENNIAL RES will post $0.18 EPS for the current year.

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Several equities analysts have recently weighed in on the company. Imperial Capital assumed coverage on CENTENNIAL RES in a research report on Friday, August 18th. They set an “outperform” rating and a $22.00 target price on the stock. Zacks Investment Research raised CENTENNIAL RES from a “sell” rating to a “hold” rating and set a $18.00 target price on the stock in a research report on Tuesday, May 23rd. Howard Weil assumed coverage on CENTENNIAL RES in a research report on Friday, July 21st. They set a “sector outperform” rating and a $21.00 target price on the stock. BMO Capital Markets set a $18.00 target price on CENTENNIAL RES and gave the company a “hold” rating in a research report on Saturday, August 12th. Finally, Scotia Howard Weill assumed coverage on CENTENNIAL RES in a research report on Friday, July 21st. They set a “sector outperform” rating and a $21.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $22.17.

CENTENNIAL RES Profile

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 RES (NASDAQ:CDEV)

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