Dean Investment Associates LLC Buys New Position in Centennial Resource Development Inc (CDEV)

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Dean Investment Associates LLC bought a new position in Centennial Resource Development Inc (NASDAQ:CDEV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 40,759 shares of the oil and natural gas company’s stock, valued at approximately $736,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDEV. Cerebellum GP LLC bought a new position in Centennial Resource Development during the second quarter valued at about $161,000. Whittier Trust Co. of Nevada Inc. bought a new position in Centennial Resource Development during the second quarter valued at about $172,000. M&T Bank Corp bought a new position in Centennial Resource Development during the first quarter valued at about $197,000. Strs Ohio bought a new position in Centennial Resource Development during the second quarter valued at about $218,000. Finally, Stonebridge Capital Management Inc. bought a new position in Centennial Resource Development during the second quarter valued at about $221,000. Hedge funds and other institutional investors own 91.88% of the company’s stock.

In other Centennial Resource Development news, CFO George S. Glyphis bought 15,000 shares of the business’s stock in a transaction on Monday, June 4th. The stock was purchased at an average price of $16.79 per share, for a total transaction of $251,850.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brent P. Jensen bought 4,500 shares of the business’s stock in a transaction on Friday, May 25th. The shares were acquired at an average price of $17.75 per share, with a total value of $79,875.00. Following the transaction, the vice president now directly owns 91,203 shares of the company’s stock, valued at $1,618,853.25. The disclosure for this purchase can be found here. 31.00% of the stock is owned by company insiders.

Several equities analysts recently weighed in on the stock. TD Securities assumed coverage on shares of Centennial Resource Development in a research report on Thursday, July 5th. They set a “buy” rating and a $23.00 price target for the company. BidaskClub upgraded shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Royal Bank of Canada restated a “buy” rating and set a $28.00 price target on shares of Centennial Resource Development in a research report on Friday, July 13th. Susquehanna Bancshares assumed coverage on shares of Centennial Resource Development in a research report on Wednesday, July 11th. They set a “neutral” rating and a $21.00 price target for the company. Finally, ValuEngine upgraded shares of Centennial Resource Development from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $24.29.

Shares of NASDAQ:CDEV opened at $17.77 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 63.46 and a beta of 1.35. Centennial Resource Development Inc has a twelve month low of $15.78 and a twelve month high of $22.14.

Centennial Resource Development (NASDAQ:CDEV) last issued its earnings results on Monday, August 6th. The oil and natural gas company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $217.76 million during the quarter, compared to analyst estimates of $220.58 million. Centennial Resource Development had a net margin of 24.55% and a return on equity of 5.68%. The company’s quarterly revenue was up 139.1% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. analysts predict that Centennial Resource Development Inc will post 0.9 EPS for the current fiscal year.

About Centennial Resource Development

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

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