Centennial Resource Development Inc (NASDAQ:CDEV) – Stock analysts at Seaport Global Securities boosted their Q1 2018 earnings per share estimates for Centennial Resource Development in a note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will earn $0.19 per share for the quarter, up from their previous estimate of $0.13. Seaport Global Securities has a “Buy” rating and a $19.00 price objective on the stock. Seaport Global Securities also issued estimates for Centennial Resource Development’s Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at $0.24 EPS and FY2018 earnings at $0.88 EPS.
Several other equities analysts have also recently weighed in on CDEV. UBS began coverage on Centennial Resource Development in a research report on Wednesday, March 7th. They set a “buy” rating and a $24.00 price objective for the company. BMO Capital Markets raised Centennial Resource Development from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Tuesday, March 13th. Johnson Rice began coverage on Centennial Resource Development in a research report on Wednesday. They set a “buy” rating and a $25.00 price objective for the company. ValuEngine cut Centennial Resource Development from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, BidaskClub cut Centennial Resource Development from a “hold” rating to a “sell” rating in a research report on Saturday, March 10th. Two analysts have rated the stock with a sell rating and twenty-two have issued a buy rating to the company’s stock. Centennial Resource Development currently has an average rating of “Buy” and a consensus price target of $24.40.
Shares of Centennial Resource Development stock opened at $18.94 on Thursday. Centennial Resource Development has a 12-month low of $14.10 and a 12-month high of $22.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $5,095.50, a PE ratio of 61.10, a price-to-earnings-growth ratio of 0.61 and a beta of 1.56.
A number of institutional investors have recently bought and sold shares of CDEV. Magnetar Financial LLC acquired a new position in Centennial Resource Development in the 3rd quarter valued at approximately $72,858,000. Goldman Sachs Group Inc. grew its stake in shares of Centennial Resource Development by 220.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,208,931 shares of the oil and natural gas company’s stock valued at $63,536,000 after purchasing an additional 2,207,300 shares during the period. Tide Point Capital Management LP bought a new stake in shares of Centennial Resource Development in the 4th quarter valued at approximately $35,767,000. CDAM UK Ltd bought a new stake in shares of Centennial Resource Development in the 4th quarter valued at approximately $26,507,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Centennial Resource Development in the 4th quarter valued at approximately $15,475,000. 91.17% of the stock is owned by hedge funds and other institutional investors.
In other Centennial Resource Development news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of the company’s stock in a transaction that occurred on 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 at the SEC website. Corporate insiders own 44.70% of the company’s stock.
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About Centennial Resource Development
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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