CoreCommodity Management LLC lessened its position in shares of Centennial Resource Development Inc (NASDAQ:CDEV) by 20.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,447 shares of the oil and natural gas company’s stock after selling 5,011 shares during the quarter. CoreCommodity Management LLC’s holdings in Centennial Resource Development were worth $214,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC raised its stake in shares of Centennial Resource Development by 158.7% during the 4th quarter. Penserra Capital Management LLC now owns 3,136 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 1,924 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Centennial Resource Development in the 4th quarter valued at about $37,000. Ffcm LLC acquired a new position in Centennial Resource Development in the 4th quarter valued at about $100,000. Whittier Trust Co. of Nevada Inc. raised its stake in Centennial Resource Development by 11.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 12,100 shares of the oil and natural gas company’s stock valued at $133,000 after purchasing an additional 1,224 shares during the last quarter. Finally, Stonebridge Capital Management Inc. raised its stake in Centennial Resource Development by 34.4% in the 4th quarter. Stonebridge Capital Management Inc. now owns 12,775 shares of the oil and natural gas company’s stock valued at $141,000 after purchasing an additional 3,269 shares during the last quarter.

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

Centennial Resource Development (NASDAQ:CDEV) last issued its earnings results on Monday, February 25th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.03). Centennial Resource Development had a return on equity of 6.51% and a net margin of 22.43%. The firm had revenue of $222.50 million for the quarter, compared to analysts’ expectations of $238.16 million. The company’s quarterly revenue was up 34.0% on a year-over-year basis. As a group, sell-side analysts forecast that Centennial Resource Development Inc will post 0.4 EPS for the current year.

CDEV has been the subject of several analyst reports. Barclays downgraded shares of Centennial Resource Development from an “overweight” rating to an “underweight” rating and cut their target price for the company from $22.00 to $14.00 in a research note on Wednesday, January 16th. Cowen downgraded shares of Centennial Resource Development from an “outperform” rating to a “market perform” rating and cut their target price for the company from $15.00 to $11.00 in a research note on Wednesday, February 27th. BidaskClub downgraded shares of Centennial Resource Development from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 12th. Guggenheim set a $25.00 target price on shares of Centennial Resource Development and gave the company a “buy” rating in a research note on Sunday, December 23rd. Finally, Bank of America downgraded shares of Centennial Resource Development from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Friday, January 4th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $19.61.

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Centennial Resource Development Company 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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