RMB Capital Management LLC Takes Position in Centennial Resource Development Inc (CDEV)

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RMB Capital Management LLC bought a new position in Centennial Resource Development Inc (NASDAQ:CDEV) during the fourth quarter, Holdings Channel reports. The fund bought 103,984 shares of the oil and natural gas company’s stock, valued at approximately $1,146,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CDEV. FMR LLC grew its holdings in shares of Centennial Resource Development by 27.0% in the 3rd quarter. FMR LLC now owns 39,567,873 shares of the oil and natural gas company’s stock worth $864,558,000 after acquiring an additional 8,410,700 shares during the last quarter. NWQ Investment Management Company LLC acquired a new position in shares of Centennial Resource Development in the 3rd quarter worth $25,250,000. Advisory Research Inc. acquired a new position in shares of Centennial Resource Development in the 3rd quarter worth $25,349,000. Schroder Investment Management Group grew its holdings in shares of Centennial Resource Development by 187.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,443,732 shares of the oil and natural gas company’s stock worth $31,546,000 after acquiring an additional 940,695 shares during the last quarter. Finally, Ninepoint Partners LP acquired a new position in shares of Centennial Resource Development in the 4th quarter worth $7,714,000.

A number of equities analysts recently issued reports on the company. Guggenheim set a $20.00 target price on Centennial Resource Development and gave the stock a “buy” rating in a report on Tuesday, February 26th. Credit Suisse Group set a $12.00 target price on Centennial Resource Development and gave the stock a “hold” rating in a report on Tuesday, February 26th. Zacks Investment Research upgraded Centennial Resource Development from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. TD Securities decreased their target price on Centennial Resource Development from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, February 27th. Finally, JPMorgan Chase & Co. set a $17.00 target price on Centennial Resource Development and gave the stock a “buy” rating in a report on Friday, December 7th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $19.61.

Shares of CDEV stock opened at $9.18 on Monday. Centennial Resource Development Inc has a 1-year low of $8.28 and a 1-year high of $23.12. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.54 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.31 and a beta of 1.84.

Centennial Resource Development (NASDAQ:CDEV) last issued its quarterly earnings results on Monday, February 25th. The oil and natural gas company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Centennial Resource Development had a net margin of 22.43% and a return on equity of 6.51%. The business had revenue of $222.50 million for the quarter, compared to analysts’ expectations of $238.16 million. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. On average, equities research analysts anticipate that Centennial Resource Development Inc will post 0.4 EPS for the current year.

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Centennial Resource Development Profile

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.

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

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