Centennial Res (NASDAQ:CDEV) has been assigned a $18.00 price target by investment analysts at BMO Capital Markets in a research note issued to investors on Tuesday. The brokerage presently has a “hold” rating on the oil and natural gas company’s stock. BMO Capital Markets’ target price suggests a potential downside of 2.07% from the company’s current price.

A number of other brokerages have also commented on CDEV. Seaport Global Securities assumed coverage on Centennial Res in a report on Thursday, September 28th. They set a “neutral” rating and a $19.00 price objective for the company. Stifel Nicolaus set a $21.00 price objective on Centennial Res and gave the stock a “buy” rating in a report on Thursday, October 5th. KLR Group assumed coverage on Centennial Res in a report on Monday, September 25th. They set a “buy” rating and a $30.00 price objective for the company. Zacks Investment Research raised Centennial Res from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a report on Thursday, September 7th. Finally, J P Morgan Chase & Co assumed coverage on Centennial Res in a report on Tuesday, August 1st. They set an “overweight” rating and a $19.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Centennial Res presently has a consensus rating of “Buy” and an average price target of $22.36.

Centennial Res (NASDAQ CDEV) opened at 18.38 on Tuesday. The company’s 50-day moving average price is $18.09 and its 200 day moving average price is $18.09. The firm has a market capitalization of $4.72 billion, a PE ratio of 92.36 and a beta of 2.07. Centennial Res has a 12 month low of $13.31 and a 12 month high of $20.97.

Centennial Res (NASDAQ:CDEV) last issued its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $91.06 million for the quarter, compared to the consensus estimate of $76.03 million. On average, equities research analysts predict that Centennial Res will post $0.18 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Washington Trust Bank boosted its stake in shares of Centennial Res by 1.8% in the 2nd quarter. Washington Trust Bank now owns 12,514 shares of the oil and natural gas company’s stock worth $198,000 after buying an additional 227 shares during the last quarter. Fayez Sarofim & Co boosted its stake in shares of Centennial Res by 1.9% in the 1st quarter. Fayez Sarofim & Co now owns 13,350 shares of the oil and natural gas company’s stock worth $243,000 after buying an additional 250 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Centennial Res by 9.9% in the 2nd quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock worth $145,000 after buying an additional 830 shares during the last quarter. Seven Bridges Advisors LLC boosted its stake in shares of Centennial Res by 16.8% in the 2nd quarter. Seven Bridges Advisors LLC now owns 8,244 shares of the oil and natural gas company’s stock worth $130,000 after buying an additional 1,184 shares during the last quarter. Finally, Howard Hughes Medical Institute boosted its stake in shares of Centennial Res by 9.7% in the 2nd quarter. Howard Hughes Medical Institute now owns 18,917 shares of the oil and natural gas company’s stock worth $299,000 after buying an additional 1,680 shares during the last quarter. 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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