Investment analysts at Credit Suisse Group began coverage on shares of Centennial Resource Development (NASDAQ:CDEV) in a report issued on Monday. The firm set an “outperform” rating and a $22.00 price target on the oil and natural gas company’s stock. Credit Suisse Group’s target price would suggest a potential upside of 13.34% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. BidaskClub lowered Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Scotiabank restated a “buy” rating and set a $22.00 price target on shares of Centennial Resource Development in a report on Tuesday, November 7th. Imperial Capital started coverage on Centennial Resource Development in a report on Friday, August 18th. They set an “outperform” rating and a $22.00 price target on the stock. KLR Group started coverage on Centennial Resource Development in a report on Monday, September 25th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Zacks Investment Research upgraded Centennial Resource Development from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a report on Thursday, September 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $22.47.
Centennial Resource Development (NASDAQ:CDEV) traded up $0.48 during midday trading on Monday, hitting $19.41. The stock had a trading volume of 657,900 shares, compared to its average volume of 1,433,134. Centennial Resource Development has a 12 month low of $14.10 and a 12 month high of $22.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.43 and a quick ratio of 0.43.
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About Centennial Resource Development
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.
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