Stifel Nicolaus set a $21.00 target price on Centennial Res (NASDAQ:CDEV) in a research report sent to investors on Thursday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Several other equities analysts have also issued reports on CDEV. Seaport Global Securities began coverage on Centennial Res in a research note on Thursday, September 28th. They issued a neutral rating and a $19.00 target price on the stock. BMO Capital Markets set a $17.00 target price on Centennial Res and gave the company a hold rating in a research note on Monday, June 26th. J P Morgan Chase & Co began coverage on Centennial Res in a research note on Tuesday, August 1st. They issued an overweight rating and a $19.00 target price on the stock. Imperial Capital began coverage on Centennial Res in a research note on Friday, August 18th. They issued an outperform rating and a $22.00 target price on the stock. Finally, KLR Group began coverage on Centennial Res in a research note on Monday, September 25th. They issued a buy rating and a $30.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $22.36.

Centennial Res (CDEV) traded down 1.24% during mid-day trading on Thursday, hitting $18.34. 751,786 shares of the stock were exchanged. The stock has a 50 day moving average of $18.06 and a 200-day moving average of $18.06. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 92.16 and a beta of 2.07. Centennial Res has a 52-week low of $13.31 and a 52-week 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, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $91.06 million during the quarter, compared to analysts’ expectations of $76.03 million. Equities analysts predict that Centennial Res will post $0.18 EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of CDEV. BlackRock Inc. grew its stake in shares of Centennial Res by 175.1% during the second quarter. BlackRock Inc. now owns 5,992,125 shares of the oil and natural gas company’s stock worth $94,795,000 after acquiring an additional 3,814,249 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Centennial Res by 66.9% during the first quarter. Vanguard Group Inc. now owns 7,747,736 shares of the oil and natural gas company’s stock worth $141,241,000 after acquiring an additional 3,106,958 shares during the last quarter. State Street Corp grew its stake in shares of Centennial Res by 191.3% during the second quarter. State Street Corp now owns 3,084,242 shares of the oil and natural gas company’s stock worth $48,795,000 after acquiring an additional 2,025,288 shares during the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of Centennial Res during the second quarter worth about $14,376,000. Finally, Neuberger Berman Group LLC grew its stake in shares of Centennial Res by 37.9% during the second quarter. Neuberger Berman Group LLC now owns 2,753,691 shares of the oil and natural gas company’s stock worth $43,563,000 after acquiring an additional 756,938 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Centennial Res Company 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.

Analyst Recommendations for Centennial Res (NASDAQ:CDEV)

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