Centennial Resource Development (NASDAQ:CDEV) had its price objective lowered by Citigroup from $25.00 to $23.00 in a research note published on Tuesday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Centennial Resource Development from a buy rating to a hold rating in a research note on Tuesday, January 30th. Stifel Nicolaus set a $25.00 price target on Centennial Resource Development and gave the company a buy rating in a research note on Tuesday, January 30th. BidaskClub raised Centennial Resource Development from a hold rating to a buy rating in a research note on Thursday, January 25th. Deutsche Bank began coverage on Centennial Resource Development in a research note on Thursday, February 1st. They set a buy rating and a $26.00 price target for the company. Finally, Credit Suisse Group began coverage on Centennial Resource Development in a research note on Monday, December 11th. They set an outperform rating and a $22.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $23.53.

Centennial Resource Development (CDEV) opened at $17.92 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.43 and a quick ratio of 0.43. Centennial Resource Development has a one year low of $14.10 and a one year high of $22.14.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Centennial Resource Development 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 worth $145,000 after acquiring an additional 830 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Centennial Resource Development by 44.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,033 shares of the oil and natural gas company’s stock worth $159,000 after acquiring an additional 2,490 shares in the last quarter. TIAA FSB boosted its stake in shares of Centennial Resource Development by 3.4% during the 4th quarter. TIAA FSB now owns 81,403 shares of the oil and natural gas company’s stock worth $1,611,000 after acquiring an additional 2,647 shares in the last quarter. Navellier & Associates Inc boosted its stake in shares of Centennial Resource Development by 10.9% during the 4th quarter. Navellier & Associates Inc now owns 29,913 shares of the oil and natural gas company’s stock worth $592,000 after acquiring an additional 2,951 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Centennial Resource Development by 23.7% during the 4th quarter. Comerica Bank now owns 16,710 shares of the oil and natural gas company’s stock worth $357,000 after acquiring an additional 3,199 shares in the last quarter. 93.72% of the stock is owned by institutional investors and hedge funds.

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Centennial Resource Development 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.

Analyst Recommendations for Centennial Resource Development (NASDAQ:CDEV)

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