Centennial Resource Development (CDEV) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of Centennial Resource Development (NASDAQ:CDEV) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Centennial Resource Development from a buy rating to a hold rating in a research report on Tuesday, January 30th. Stifel Nicolaus set a $25.00 price target on shares of Centennial Resource Development and gave the company a buy rating in a research report on Tuesday, January 30th. Citigroup cut their price target on shares of Centennial Resource Development from $25.00 to $23.00 and set a buy rating on the stock in a research report on Tuesday, February 13th. Deutsche Bank began coverage on shares of Centennial Resource Development in a research report on Thursday, February 1st. They issued a buy rating and a $26.00 price target on the stock. Finally, Scotiabank reiterated a buy rating and issued a $22.00 price target on shares of Centennial Resource Development in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $23.67.

Centennial Resource Development (NASDAQ CDEV) opened at $17.90 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.43. Centennial Resource Development has a one year low of $14.10 and a one year high of $22.14.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Centennial Resource Development by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,773,597 shares of the oil and natural gas company’s stock worth $122,979,000 after buying an additional 25,861 shares during the period. Magnetar Financial LLC acquired a new stake in Centennial Resource Development during the 3rd quarter worth approximately $72,858,000. Goldman Sachs Group Inc. raised its holdings in Centennial Resource Development by 220.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,208,931 shares of the oil and natural gas company’s stock worth $63,536,000 after buying an additional 2,207,300 shares during the period. State Street Corp raised its holdings in Centennial Resource Development by 191.3% during the 2nd quarter. State Street Corp now owns 3,084,242 shares of the oil and natural gas company’s stock worth $48,795,000 after buying an additional 2,025,288 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in Centennial Resource Development by 8.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,981,444 shares of the oil and natural gas company’s stock worth $53,577,000 after buying an additional 227,753 shares during the period. Hedge funds and other institutional investors own 88.67% 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.

Analyst Recommendations for Centennial Resource Development (NASDAQ:CDEV)

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