Oregon Public Employees Retirement Fund Takes Position in Centennial Resource Development Inc (NASDAQ:CDEV)

Oregon Public Employees Retirement Fund bought a new stake in Centennial Resource Development Inc (NASDAQ:CDEV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 746,371 shares of the oil and natural gas company’s stock, valued at approximately $664,000. Oregon Public Employees Retirement Fund owned 0.27% of Centennial Resource Development at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Prescott Group Capital Management L.L.C. increased its holdings in shares of Centennial Resource Development by 1,268.3% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 23,617,072 shares of the oil and natural gas company’s stock valued at $6,211,000 after acquiring an additional 21,891,072 shares during the period. AQR Capital Management LLC increased its holdings in shares of Centennial Resource Development by 609.3% in the 1st quarter. AQR Capital Management LLC now owns 16,531,338 shares of the oil and natural gas company’s stock valued at $4,348,000 after acquiring an additional 14,200,632 shares during the period. State Street Corp increased its holdings in shares of Centennial Resource Development by 29.0% in the 1st quarter. State Street Corp now owns 12,762,734 shares of the oil and natural gas company’s stock valued at $3,357,000 after acquiring an additional 2,872,645 shares during the period. Geode Capital Management LLC increased its holdings in shares of Centennial Resource Development by 7.6% in the 1st quarter. Geode Capital Management LLC now owns 2,591,734 shares of the oil and natural gas company’s stock valued at $681,000 after acquiring an additional 182,662 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Centennial Resource Development by 16.3% in the 4th quarter. Nuveen Asset Management LLC now owns 2,493,889 shares of the oil and natural gas company’s stock valued at $11,521,000 after acquiring an additional 350,080 shares during the period. 92.95% of the stock is currently owned by institutional investors and hedge funds.

CDEV has been the topic of several recent research reports. KeyCorp reissued a “buy” rating and issued a $2.00 price objective (up from $1.00) on shares of Centennial Resource Development in a research note on Thursday, June 11th. Wells Fargo & Co reissued a “hold” rating and issued a $1.25 price objective (up from $1.00) on shares of Centennial Resource Development in a research note on Thursday, June 25th. BidaskClub cut shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Zacks Investment Research cut shares of Centennial Resource Development from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research note on Monday, June 8th. Finally, US Capital Advisors cut shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Friday, April 24th. Eight analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Centennial Resource Development currently has an average rating of “Hold” and a consensus target price of $3.39.

NASDAQ:CDEV opened at $0.79 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.41. Centennial Resource Development Inc has a fifty-two week low of $0.24 and a fifty-two week high of $6.23. The firm’s fifty day simple moving average is $0.96 and its 200-day simple moving average is $1.47.

Centennial Resource Development (NASDAQ:CDEV) last posted its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported ($1.99) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($1.92). Centennial Resource Development had a negative return on equity of 0.90% and a negative net margin of 56.81%. The company had revenue of $192.77 million for the quarter, compared to analyst estimates of $209.29 million. As a group, analysts forecast that Centennial Resource Development Inc will post -0.58 EPS for the current year.

In other Centennial Resource Development news, Director Non-Eci Usrpi Aiv Riverstone acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $2.15 per share, for a total transaction of $53,750.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Us Centennial Holdings Ll Rel acquired 3,004,026 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $0.89 per share, for a total transaction of $2,673,583.14. The disclosure for this purchase can be found here. Insiders purchased a total of 8,037,916 shares of company stock worth $7,173,825 over the last quarter. Insiders own 31.90% of the company’s stock.

Centennial Resource Development Company Profile

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.

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Institutional Ownership by Quarter for Centennial Resource Development (NASDAQ:CDEV)

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