Driehaus Capital Management LLC lifted its stake in shares of Centennial Resource Development Inc (NASDAQ:CDEV) by 74.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,927 shares of the oil and natural gas company’s stock after purchasing an additional 24,727 shares during the quarter. Driehaus Capital Management LLC’s holdings in Centennial Resource Development were worth $1,147,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its stake in shares of Centennial Resource Development by 90.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 525,372 shares of the oil and natural gas company’s stock valued at $9,441,000 after purchasing an additional 249,819 shares during the period. Neuberger Berman Group LLC increased its stake in Centennial Resource Development by 8.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,981,444 shares of the oil and natural gas company’s stock worth $53,577,000 after acquiring an additional 227,753 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Centennial Resource Development by 12.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 438,683 shares of the oil and natural gas company’s stock worth $7,883,000 after acquiring an additional 47,194 shares during the last quarter. Jackson Square Partners LLC bought a new position in Centennial Resource Development in the 3rd quarter worth about $909,000. Finally, Cetera Advisors LLC increased its stake in Centennial Resource Development by 38.7% in the 4th quarter. Cetera Advisors LLC now owns 45,338 shares of the oil and natural gas company’s stock worth $901,000 after acquiring an additional 12,642 shares during the last quarter. Institutional investors own 92.71% of the company’s stock.
In other news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the company’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $19.50, for a total value of $419,355,631.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 44.70% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on CDEV shares. BidaskClub upgraded Centennial Resource Development from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Seaport Global Securities upgraded Centennial Resource Development from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, December 19th. Stifel Nicolaus set a $25.00 target price on Centennial Resource Development and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Zacks Investment Research upgraded Centennial Resource Development from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Monday, January 29th. Finally, Guggenheim started coverage on Centennial Resource Development in a research note on Monday, January 29th. They issued a “buy” rating and a $29.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.37.
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Centennial Resource Development 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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