Equities researchers at Jefferies Financial Group assumed coverage on shares of Centennial Resource Development (NASDAQ:CDEV) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $23.00 price target on the oil and natural gas company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 22.34% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. TD Securities assumed coverage on Centennial Resource Development in a report on Thursday, July 5th. They set a “buy” rating and a $23.00 price target for the company. BidaskClub raised Centennial Resource Development from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Royal Bank of Canada reaffirmed a “buy” rating and set a $28.00 price target on shares of Centennial Resource Development in a report on Friday, July 13th. Susquehanna Bancshares assumed coverage on Centennial Resource Development in a report on Wednesday, July 11th. They set a “neutral” rating and a $21.00 price target for the company. Finally, ValuEngine raised Centennial Resource Development from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Centennial Resource Development presently has a consensus rating of “Buy” and a consensus price target of $24.17.

CDEV stock opened at $18.80 on Thursday. The company has a market capitalization of $5.03 billion, a PE ratio of 27.59 and a beta of 1.35. Centennial Resource Development 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. Centennial Resource Development had a return on equity of 5.68% and a net margin of 24.55%. The business had revenue of $217.76 million during the quarter, compared to the consensus estimate of $220.58 million. During the same period in the prior year, the company earned $0.09 earnings per share. The company’s revenue was up 139.1% compared to the same quarter last year. sell-side analysts predict that Centennial Resource Development will post 0.93 EPS for the current year.

In other Centennial Resource Development news, CFO George S. Glyphis bought 15,000 shares of Centennial Resource Development stock in a transaction on Monday, June 4th. The stock was bought at an average price of $16.79 per share, with a total value of $251,850.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 44.70% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC acquired a new stake in Centennial Resource Development in the second quarter valued at $161,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Centennial Resource Development in the second quarter valued at $172,000. M&T Bank Corp acquired a new stake in Centennial Resource Development in the first quarter valued at $197,000. Strs Ohio acquired a new stake in Centennial Resource Development in the second quarter valued at $218,000. Finally, Stonebridge Capital Management Inc. acquired a new stake in Centennial Resource Development in the second quarter valued at $221,000. 96.40% of the stock is owned by institutional investors.

About Centennial Resource Development

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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Analyst Recommendations for Centennial Resource Development (NASDAQ:CDEV)

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