New York State Common Retirement Fund bought a new stake in shares of Centennial Resource Development, Inc. (NASDAQ:CDEV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 161,600 shares of the oil and natural gas company’s stock, valued at approximately $1,096,000. New York State Common Retirement Fund owned 0.06% of Centennial Resource Development at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Centennial Resource Development by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 1,762,455 shares of the oil and natural gas company’s stock worth $7,402,000 after acquiring an additional 34,639 shares during the last quarter. Millennium Management LLC raised its holdings in Centennial Resource Development by 99.2% in the 1st quarter. Millennium Management LLC now owns 1,588,004 shares of the oil and natural gas company’s stock worth $6,670,000 after purchasing an additional 790,620 shares during the period. UBS Group AG lifted its position in Centennial Resource Development by 80.9% during the first quarter. UBS Group AG now owns 1,587,767 shares of the oil and natural gas company’s stock valued at $6,669,000 after purchasing an additional 710,189 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Centennial Resource Development during the first quarter valued at about $6,479,000. Finally, Morgan Stanley raised its stake in shares of Centennial Resource Development by 1,540.6% in the first quarter. Morgan Stanley now owns 1,182,680 shares of the oil and natural gas company’s stock worth $4,968,000 after buying an additional 1,110,592 shares during the period. 69.79% of the stock is owned by institutional investors and hedge funds.
In other Centennial Resource Development news, COO Matthew R. Garrison sold 89,096 shares of the stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $5.12, for a total value of $456,171.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 38.60% of the company’s stock.
Centennial Resource Development (NASDAQ:CDEV) last released its quarterly earnings data on Monday, August 2nd. The oil and natural gas company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.16). Centennial Resource Development had a negative net margin of 27.68% and a negative return on equity of 3.79%. The business had revenue of $232.58 million during the quarter, compared to analyst estimates of $193.91 million. Equities research analysts predict that Centennial Resource Development, Inc. will post 0.5 earnings per share for the current fiscal year.
CDEV has been the subject of several analyst reports. Cowen raised shares of Centennial Resource Development from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $4.00 to $5.75 in a report on Wednesday, August 18th. Citigroup assumed coverage on shares of Centennial Resource Development in a report on Friday, July 16th. They issued a “neutral” rating and a $7.50 target price for the company. KeyCorp raised their price target on Centennial Resource Development from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, June 24th. MKM Partners raised shares of Centennial Resource Development from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $6.00 to $7.00 in a report on Tuesday, August 10th. They noted that the move was a valuation call. Finally, Wells Fargo & Company raised their price target on Centennial Resource Development from $4.00 to $5.00 and gave the company an “underweight” rating in a report on Wednesday, May 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Centennial Resource Development currently has a consensus rating of “Hold” and an average target price of $5.72.
Centennial Resource Development Profile
Centennial Resource Development, Inc operates as oil and natural gas company. It focuses on the development of unconventional oil and liquids-rich natural gas reserves in the Permian Basin. The company was founded in October 2014 and is headquartered in Denver, CO.
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