Centennial Res (CDEV) Stake Decreased by Citadel Advisors LLC

Citadel Advisors LLC decreased its position in shares of Centennial Res (NASDAQ:CDEV) by 49.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,527 shares of the oil and natural gas company’s stock after selling 23,291 shares during the period. Citadel Advisors LLC’s holdings in Centennial Res were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Seven Bridges Advisors LLC increased its holdings in shares of Centennial Res by 16.8% during the second quarter. Seven Bridges Advisors LLC now owns 8,244 shares of the oil and natural gas company’s stock worth $130,000 after buying an additional 1,184 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in shares of Centennial Res during the second quarter worth approximately $158,000. Cipher Capital LP acquired a new stake in shares of Centennial Res during the second quarter worth approximately $182,000. Comerica Bank acquired a new stake in shares of Centennial Res during the second quarter worth approximately $184,000. Finally, Washington Trust Bank increased its holdings in shares of Centennial Res by 1.8% during the second quarter. Washington Trust Bank now owns 12,514 shares of the oil and natural gas company’s stock worth $198,000 after buying an additional 227 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

Shares of Centennial Res (NASDAQ:CDEV) opened at 18.38 on Wednesday. Centennial Res has a 1-year low of $13.31 and a 1-year high of $20.97. The company has a market capitalization of $4.72 billion, a PE ratio of 92.36 and a beta of 2.07. The stock’s 50 day moving average is $18.09 and its 200 day moving average is $18.09.

Centennial Res (NASDAQ:CDEV) last released its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. The company had revenue of $91.06 million for the quarter, compared to analyst estimates of $76.03 million. On average, equities research analysts anticipate that Centennial Res will post $0.18 EPS for the current fiscal year.

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Several analysts have recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating and set a $21.00 price objective on shares of Centennial Res in a report on Saturday, July 22nd. BMO Capital Markets set a $18.00 price objective on shares of Centennial Res and gave the stock a “hold” rating in a report on Tuesday. J P Morgan Chase & Co assumed coverage on shares of Centennial Res in a report on Tuesday, August 1st. They set an “overweight” rating and a $19.00 price objective for the company. Imperial Capital assumed coverage on shares of Centennial Res in a report on Friday, August 18th. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Scotia Howard Weill assumed coverage on shares of Centennial Res in a report on Friday, July 21st. They set a “sector outperform” rating and a $21.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $22.36.

About Centennial Res

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.

Institutional Ownership by Quarter for Centennial Res (NASDAQ:CDEV)

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