ETRADE Capital Management LLC increased its position in Centennial Resource Dev (NASDAQ:CDEV) by 8.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,550 shares of the oil and natural gas company’s stock after purchasing an additional 3,029 shares during the period. ETRADE Capital Management LLC’s holdings in Centennial Resource Dev were worth $689,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado grew its stake in Centennial Resource Dev by 123.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 7,781 shares of the oil and natural gas company’s stock worth $154,000 after purchasing an additional 4,298 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Centennial Resource Dev by 44.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,033 shares of the oil and natural gas company’s stock worth $159,000 after purchasing an additional 2,490 shares in the last quarter. First Quadrant L P CA acquired a new position in Centennial Resource Dev in the fourth quarter worth about $175,000. State of Alaska Department of Revenue acquired a new position in Centennial Resource Dev in the fourth quarter worth about $192,000. Finally, M&T Bank Corp acquired a new position in Centennial Resource Dev in the first quarter worth about $197,000. Institutional investors and hedge funds own 92.03% of the company’s stock.
A number of equities analysts recently commented on CDEV shares. BidaskClub downgraded Centennial Resource Dev from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Stifel Nicolaus set a $25.00 price target on Centennial Resource Dev and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Zacks Investment Research downgraded Centennial Resource Dev from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. BMO Capital Markets upgraded Centennial Resource Dev from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Tuesday, March 13th. Finally, Johnson Rice started coverage on Centennial Resource Dev in a research note on Wednesday, March 21st. They issued a “buy” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $24.12.
Shares of Centennial Resource Dev opened at $19.69 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.92. Centennial Resource Dev has a 52 week low of $14.10 and a 52 week high of $22.14. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 70.32, a P/E/G ratio of 0.60 and a beta of 1.61.
Centennial Resource Dev (NASDAQ:CDEV) last issued its earnings results on Wednesday, May 9th. The oil and natural gas company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.07. Centennial Resource Dev had a return on equity of 4.20% and a net margin of 22.55%. The company had revenue of $215.90 million during the quarter, compared to the consensus estimate of $197.38 million. analysts predict that Centennial Resource Dev will post 0.77 earnings per share for the current fiscal year.
In other Centennial Resource Dev news, Director Us Centennial Holdings Ll Rel sold 21,505,417 shares of Centennial Resource Dev 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 44.70% of the company’s stock.
Centennial Resource Dev Company Profile
Centennial Resource Development, Inc, together with its subsidiary, Centennial Resource Production, LLC, operates as an independent oil and natural gas company in the United States. It focuses on the development of unconventional oil and associated liquids-rich natural gas reserves located in the Permian Basin.
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