Seaport Global Securities Equities Analysts Boost Earnings Estimates for Centennial Resource Development Inc (NASDAQ:CDEV)

Centennial Resource Development Inc (NASDAQ:CDEV) – Stock analysts at Seaport Global Securities upped their FY2017 EPS estimates for Centennial Resource Development in a report released on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will earn $0.27 per share for the year, up from their previous estimate of $0.18. Seaport Global Securities currently has a “Buy” rating and a $19.00 target price on the stock.

Several other brokerages have also issued reports on CDEV. Scotiabank restated a “buy” rating and issued a $22.00 price objective on shares of Centennial Resource Development in a report on Tuesday, November 7th. Citigroup set a $22.00 price objective on shares of Centennial Resource Development and gave the company a “buy” rating in a report on Friday, October 13th. BidaskClub lowered shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. BMO Capital Markets set a $18.00 price target on shares of Centennial Resource Development and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Finally, Wolfe Research began coverage on shares of Centennial Resource Development in a research note on Tuesday, November 14th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Centennial Resource Development currently has an average rating of “Buy” and a consensus price target of $22.47.

Shares of Centennial Resource Development (NASDAQ:CDEV) remained flat at $$20.29 on Thursday. 746,775 shares of the stock were exchanged, compared to its average volume of 1,347,823. Centennial Resource Development has a 52 week low of $14.10 and a 52 week high of $22.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.43 and a quick ratio of 0.43.

A number of large investors have recently modified their holdings of the business. Credit Suisse AG purchased a new stake in shares of Centennial Resource Development during the first quarter worth approximately $283,000. Great West Life Assurance Co. Can purchased a new stake in shares of Centennial Resource Development during the second quarter worth approximately $158,000. Schwab Charles Investment Management Inc. increased its stake in shares of Centennial Resource Development by 88.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 275,553 shares of the oil and natural gas company’s stock worth $4,360,000 after buying an additional 128,997 shares during the period. Rhumbline Advisers purchased a new stake in shares of Centennial Resource Development during the second quarter worth approximately $1,548,000. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Centennial Resource Development during the second quarter worth approximately $349,000. Institutional investors own 93.44% of the company’s stock.

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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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