Centennial Res (NASDAQ:CDEV) has been given a $21.00 price objective by equities research analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 13.12% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. Howard Weil started coverage on shares of Centennial Res in a research report on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 price objective for the company. Scotia Howard Weill assumed coverage on shares of Centennial Res in a research report on Friday, July 21st. They set a “sector outperform” rating and a $21.00 price target for the company. Zacks Investment Research downgraded shares of Centennial Res from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Scotiabank reiterated an “outperform” rating and set a $21.00 price target on shares of Centennial Res in a research report on Saturday, July 22nd. Finally, BMO Capital Markets set a $18.00 price target on shares of Centennial Res and gave the company a “hold” rating in a research report on Saturday, August 12th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Centennial Res presently has an average rating of “Buy” and a consensus target price of $22.36.

Centennial Res (NASDAQ CDEV) traded down 0.996% during trading on Thursday, reaching $18.385. The company had a trading volume of 207,065 shares. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 92.387 and a beta of 2.07. Centennial Res has a 1-year low of $13.31 and a 1-year high of $20.97. The firm has a 50-day moving average of $18.06 and a 200-day moving average of $18.06.

Centennial Res (NASDAQ:CDEV) last announced its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. The firm had revenue of $91.06 million during the quarter, compared to analyst estimates of $76.03 million. On average, analysts anticipate that Centennial Res will post $0.18 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Centennial Res by 22.0% during the 1st quarter. FMR LLC now owns 30,658,838 shares of the oil and natural gas company’s stock worth $554,836,000 after purchasing an additional 5,518,614 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Centennial Res by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,773,597 shares of the oil and natural gas company’s stock worth $122,979,000 after purchasing an additional 25,861 shares during the last quarter. BlackRock Inc. raised its position in shares of Centennial Res by 175.1% during the 2nd quarter. BlackRock Inc. now owns 5,992,125 shares of the oil and natural gas company’s stock worth $94,795,000 after purchasing an additional 3,814,249 shares during the last quarter. Tide Point Capital Management LP acquired a new position in shares of Centennial Res during the 4th quarter worth approximately $99,521,000. Finally, SailingStone Capital Partners LLC acquired a new position in shares of Centennial Res during the 4th quarter worth approximately $55,089,000. Hedge funds and other institutional investors 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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