Centennial Res (CDEV) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research began coverage on shares of Centennial Res (NASDAQ:CDEV) in a research report sent to investors on Tuesday, The Fly reports. The firm issued an outperform rating on the oil and natural gas company’s stock.

Several other equities analysts have also recently weighed in on the company. Howard Weil initiated coverage on Centennial Res in a research note on Friday, July 21st. They set a sector outperform rating and a $21.00 price objective on the stock. Scotia Howard Weill initiated coverage on Centennial Res in a research note on Friday, July 21st. They set a sector outperform rating and a $21.00 price objective on the stock. Scotiabank restated an outperform rating and set a $21.00 price objective on shares of Centennial Res in a research note on Saturday, July 22nd. KLR Group started coverage on Centennial Res in a research report on Monday, September 25th. They set a buy rating and a $30.00 target price for the company. Finally, Bank of America Corporation started coverage on Centennial Res in a research report on Monday, October 16th. They set a buy rating for the company. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $22.50.

Shares of Centennial Res (NASDAQ:CDEV) traded up $0.39 on Tuesday, hitting $20.08. The company had a trading volume of 2,817,462 shares, compared to its average volume of 1,433,508. Centennial Res has a 12 month low of $13.31 and a 12 month high of $22.11. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06.

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A number of hedge funds have recently bought and sold shares of CDEV. Seven Bridges Advisors LLC grew its holdings in Centennial Res by 16.8% during the 2nd quarter. Seven Bridges Advisors LLC now owns 8,244 shares of the oil and natural gas company’s stock valued at $130,000 after buying an additional 1,184 shares in the last quarter. Royal Bank of Canada grew its holdings in Centennial Res by 9.9% during the 2nd quarter. Royal Bank of Canada now owns 9,179 shares of the oil and natural gas company’s stock valued at $145,000 after buying an additional 830 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in Centennial Res during the 2nd quarter valued at about $158,000. Cipher Capital LP purchased a new position in Centennial Res during the 2nd quarter valued at about $182,000. Finally, Comerica Bank purchased a new position in Centennial Res during the 2nd quarter valued at about $184,000. 90.50% of the stock is owned by institutional investors and hedge funds.

Centennial Res Company Profile

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.

The Fly

Analyst Recommendations for Centennial Res (NASDAQ:CDEV)

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