Centennial Resource Development (NASDAQ:CDEV) had its price target decreased by analysts at Citigroup from $25.00 to $23.00 in a report released on Tuesday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Citigroup’s price objective would indicate a potential upside of 23.19% from the company’s current price.
Several other analysts have also commented on the stock. Seaport Global Securities raised shares of Centennial Resource Development from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, December 19th. Wolfe Research started coverage on shares of Centennial Resource Development in a report on Tuesday, November 14th. They set an “outperform” rating on the stock. BidaskClub upgraded shares of Centennial Resource Development from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Credit Suisse Group started coverage on shares of Centennial Resource Development in a report on Monday, December 11th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Centennial Resource Development presently has a consensus rating of “Buy” and an average price target of $23.53.
Centennial Resource Development (NASDAQ CDEV) traded up $0.57 during mid-day trading on Tuesday, reaching $18.67. 1,416,600 shares of the company traded hands, compared to its average volume of 1,744,230. Centennial Resource Development has a fifty-two week low of $14.10 and a fifty-two week high of $22.14. The firm has a market capitalization of $4,790.00 and a price-to-earnings ratio of -16.38. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06.
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Centennial Resource Development 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.
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