TD Asset Management Inc. Reduces Position in CENTENNIAL RES (NASDAQ:CDEV)
TD Asset Management Inc. decreased its position in shares of CENTENNIAL RES (NASDAQ:CDEV) by 7.1% during the second quarter, Holdings Channel reports. The firm owned 2,162,348 shares of the oil and natural gas company’s stock after selling 164,419 shares during the period. TD Asset Management Inc.’s holdings in CENTENNIAL RES were worth $34,208,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. UBS Asset Management Americas Inc. acquired a new stake in CENTENNIAL RES during the fourth quarter valued at about $670,000. Bank of Montreal Can acquired a new stake in CENTENNIAL RES during the first quarter valued at about $586,000. Washington Trust Bank acquired a new stake in CENTENNIAL RES during the first quarter valued at about $224,000. Ferguson Wellman Capital Management Inc. raised its stake in CENTENNIAL RES by 14.5% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,993,162 shares of the oil and natural gas company’s stock valued at $36,335,000 after buying an additional 252,339 shares during the last quarter. Finally, Howard Hughes Medical Institute raised its stake in CENTENNIAL RES by 15.4% in the first quarter. Howard Hughes Medical Institute now owns 17,237 shares of the oil and natural gas company’s stock valued at $314,000 after buying an additional 2,296 shares during the last quarter.
CENTENNIAL RES (CDEV) opened at 16.39 on Thursday. CENTENNIAL RES has a 52-week low of $11.80 and a 52-week high of $20.97. The firm’s 50-day moving average is $15.82 and its 200-day moving average is $17.01. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 237.54 and a beta of 2.14.
CENTENNIAL RES (NASDAQ:CDEV) last released its earnings results on Monday, August 7th. The oil and natural gas company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $91.06 million during the quarter, compared to the consensus estimate of $76.03 million. Analysts forecast that CENTENNIAL RES will post $0.18 EPS for the current fiscal year.
CDEV has been the subject of several analyst reports. Scotiabank reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of CENTENNIAL RES in a research note on Saturday, July 22nd. Stifel Nicolaus initiated coverage on shares of CENTENNIAL RES in a research note on Wednesday, April 12th. They issued a “buy” rating and a $24.00 price objective for the company. J P Morgan Chase & Co initiated coverage on shares of CENTENNIAL RES in a research note on Tuesday, August 1st. They issued an “overweight” rating and a $19.00 price objective for the company. Zacks Investment Research lowered shares of CENTENNIAL RES from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. Finally, Citigroup Inc. initiated coverage on shares of CENTENNIAL RES in a research note on Monday, May 1st. They issued a “buy” rating and a $21.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $22.09.
In other CENTENNIAL RES news, COO Sean R. Smith bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was acquired at an average price of $15.05 per share, with a total value of $150,500.00. Following the completion of the transaction, the chief operating officer now owns 21,540 shares in the company, valued at $324,177. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 44.70% of the stock is currently owned by company insiders.
About CENTENNIAL RES
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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