David J Yvars Group purchased a new position in shares of Centennial Resource Development, Inc. (NASDAQ:CDEV – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,730 shares of the oil and natural gas company’s stock, valued at approximately $151,000.
Other large investors have also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Centennial Resource Development during the 4th quarter worth approximately $30,000. Woodward Diversified Capital LLC acquired a new position in shares of Centennial Resource Development during the 4th quarter worth approximately $60,000. Belvedere Trading LLC acquired a new position in shares of Centennial Resource Development during the 1st quarter worth approximately $118,000. Point72 Hong Kong Ltd acquired a new position in shares of Centennial Resource Development during the 4th quarter worth approximately $84,000. Finally, Captrust Financial Advisors acquired a new position in shares of Centennial Resource Development during the 3rd quarter worth approximately $97,000.
Several research analysts have weighed in on the company. Stifel Nicolaus upgraded Centennial Resource Development from a “hold” rating to a “buy” rating and boosted their price target for the company from $8.40 to $11.20 in a report on Friday, April 1st. Piper Sandler cut their price target on Centennial Resource Development to $13.00 and set a “na” rating for the company in a report on Wednesday, May 18th. KeyCorp boosted their price target on Centennial Resource Development from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, April 8th. Wells Fargo & Company upgraded Centennial Resource Development from an “underweight” rating to an “equal weight” rating and set a $12.00 price target for the company in a report on Monday, March 14th. Finally, Truist Financial cut their price target on Centennial Resource Development to $8.00 in a report on Friday, May 20th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.49.
Centennial Resource Development (NASDAQ:CDEV – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The oil and natural gas company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Centennial Resource Development had a return on equity of 12.30% and a net margin of 15.92%. The business had revenue of $347.28 million for the quarter, compared to analysts’ expectations of $307.38 million. During the same period last year, the company posted ($0.01) earnings per share. On average, equities research analysts predict that Centennial Resource Development, Inc. will post 2.06 EPS for the current fiscal year.
About Centennial Resource Development (Get Rating)
Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company's properties consist of acreage blocks primarily in Reeves County, West Texas and Lea County, New Mexico.
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