Centennial Resource Development Inc (CDEV) Shares Bought by Teacher Retirement System of Texas

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Teacher Retirement System of Texas grew its holdings in shares of Centennial Resource Development Inc (NASDAQ:CDEV) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,706 shares of the oil and natural gas company’s stock after acquiring an additional 2,836 shares during the quarter. Teacher Retirement System of Texas’ holdings in Centennial Resource Development were worth $573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CDEV. JPMorgan Chase & Co. boosted its position in shares of Centennial Resource Development by 5,006.6% during the 1st quarter. JPMorgan Chase & Co. now owns 10,711,283 shares of the oil and natural gas company’s stock valued at $196,552,000 after acquiring an additional 10,501,529 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Centennial Resource Development during the 2nd quarter valued at about $81,270,000. Point72 Asset Management L.P. boosted its position in shares of Centennial Resource Development by 325,160,300.0% during the 1st quarter. Point72 Asset Management L.P. now owns 3,251,604 shares of the oil and natural gas company’s stock valued at $59,667,000 after acquiring an additional 3,251,603 shares during the last quarter. Millennium Management LLC boosted its position in shares of Centennial Resource Development by 375.0% during the 1st quarter. Millennium Management LLC now owns 2,232,930 shares of the oil and natural gas company’s stock valued at $40,974,000 after acquiring an additional 1,762,800 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its position in shares of Centennial Resource Development by 29.6% during the 1st quarter. Neuberger Berman Group LLC now owns 5,119,911 shares of the oil and natural gas company’s stock valued at $93,950,000 after acquiring an additional 1,168,756 shares during the last quarter. Hedge funds and other institutional investors own 94.39% of the company’s stock.

A number of brokerages have recently issued reports on CDEV. BidaskClub upgraded Centennial Resource Development from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. TheStreet upgraded Centennial Resource Development from a “c” rating to a “b-” rating in a research report on Friday, August 31st. National Alliance Securities downgraded Centennial Resource Development from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. ValuEngine upgraded Centennial Resource Development from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Finally, Barclays began coverage on Centennial Resource Development in a research report on Wednesday, August 29th. They set an “overweight” rating and a $24.00 price target for the company. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $24.16.

NASDAQ:CDEV opened at $19.11 on Wednesday. The company has a market capitalization of $5.32 billion, a P/E ratio of 68.25 and a beta of 1.38. Centennial Resource Development Inc has a 1-year low of $15.78 and a 1-year high of $22.14. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.13.

Centennial Resource Development (NASDAQ:CDEV) last released its earnings results on Monday, August 6th. The oil and natural gas company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The company had revenue of $217.76 million during the quarter, compared to the consensus estimate of $220.58 million. Centennial Resource Development had a return on equity of 5.68% and a net margin of 24.55%. Centennial Resource Development’s quarterly revenue was up 139.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. equities analysts forecast that Centennial Resource Development Inc will post 0.94 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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