Centennial Resource Development Inc (NASDAQ:CDEV) CFO George S. Glyphis acquired 50,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $234,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 493,195 shares in the company, valued at $2,313,084.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of CDEV traded down $0.01 during mid-day trading on Tuesday, hitting $4.52. The stock had a trading volume of 4,735,000 shares, compared to its average volume of 3,816,316. The stock has a market capitalization of $1.22 billion, a P/E ratio of 6.03, a PEG ratio of 7.75 and a beta of 1.90. The company’s fifty day moving average price is $6.31. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.53 and a current ratio of 0.53. Centennial Resource Development Inc has a fifty-two week low of $4.39 and a fifty-two week high of $23.12.

Centennial Resource Development (NASDAQ:CDEV) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $244.24 million during the quarter, compared to analyst estimates of $232.70 million. Centennial Resource Development had a return on equity of 3.66% and a net margin of 8.74%. Centennial Resource Development’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. On average, equities analysts anticipate that Centennial Resource Development Inc will post 0.33 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Carroll Financial Associates Inc. boosted its position in Centennial Resource Development by 895.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,335 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 3,000 shares during the period. Hilton Capital Management LLC acquired a new position in Centennial Resource Development during the 1st quarter valued at approximately $47,000. Bank of Montreal Can boosted its position in Centennial Resource Development by 7,891.2% during the 1st quarter. Bank of Montreal Can now owns 8,151 shares of the oil and natural gas company’s stock valued at $72,000 after purchasing an additional 8,049 shares during the period. Twin Tree Management LP boosted its position in Centennial Resource Development by 6,540.4% during the 1st quarter. Twin Tree Management LP now owns 9,031 shares of the oil and natural gas company’s stock valued at $79,000 after purchasing an additional 8,895 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new position in Centennial Resource Development during the 1st quarter valued at approximately $103,000. Institutional investors own 99.64% of the company’s stock.

Several equities research analysts have issued reports on CDEV shares. TD Securities dropped their price objective on Centennial Resource Development from $10.00 to $8.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Co started coverage on Centennial Resource Development in a report on Monday, May 20th. They set a “market perform” rating and a $12.00 price objective on the stock. Piper Jaffray Companies started coverage on Centennial Resource Development in a report on Monday, July 8th. They set a “neutral” rating and a $8.00 price objective on the stock. Zacks Investment Research upgraded Centennial Resource Development from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group downgraded Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.09.

Centennial Resource Development Company 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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