Great West Life Assurance Co. Can boosted its position in Centennial Resource Development Inc (NASDAQ:CDEV) by 43.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,378 shares of the oil and natural gas company’s stock after purchasing an additional 4,378 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Centennial Resource Development were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDEV. JPMorgan Chase & Co. raised its stake in Centennial Resource Development by 5,006.6% in 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 purchasing an additional 10,501,529 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new position in Centennial Resource Development in the 2nd quarter valued at $81,270,000. Point72 Asset Management L.P. raised its stake in Centennial Resource Development by 325,160,300.0% in 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 purchasing an additional 3,251,603 shares during the last quarter. Millennium Management LLC raised its stake in Centennial Resource Development by 375.0% in 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 purchasing an additional 1,762,800 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Centennial Resource Development by 13.1% in the 2nd quarter. BlackRock Inc. now owns 7,488,572 shares of the oil and natural gas company’s stock valued at $135,243,000 after purchasing an additional 866,574 shares during the last quarter. 94.38% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on CDEV. BidaskClub raised Centennial Resource Development from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. TheStreet raised Centennial Resource Development from a “c” rating to a “b-” rating in a research note on Friday, August 31st. SunTrust Banks raised Centennial Resource Development from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, September 7th. ValuEngine raised Centennial Resource Development from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Finally, Barclays initiated coverage on Centennial Resource Development in a report on Wednesday, August 29th. They issued an “overweight” rating and a $24.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.42.

Shares of NASDAQ:CDEV opened at $20.83 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 74.39 and a beta of 1.38. Centennial Resource Development Inc has a 52-week low of $15.78 and a 52-week high of $22.14.

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