BMO Capital Markets Reiterates $18.00 Price Target for Centennial Res (CDEV)

Centennial Res (NASDAQ:CDEV) has been assigned a $18.00 price objective by investment analysts at BMO Capital Markets in a note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the oil and natural gas company’s stock. BMO Capital Markets’ target price points to a potential downside of 2.07% from the company’s current price.

CDEV has been the subject of a number of other reports. Howard Weil initiated coverage on Centennial Res in a research report on Friday, July 21st. They issued a “sector outperform” rating and a $21.00 price objective for the company. Stifel Nicolaus set a $21.00 price objective on Centennial Res and gave the stock a “buy” rating in a research report on Thursday, October 5th. Seaport Global Securities initiated coverage on Centennial Res in a research report on Thursday, September 28th. They issued a “neutral” rating and a $19.00 price objective for the company. KLR Group initiated coverage on Centennial Res in a research report on Monday, September 25th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Zacks Investment Research upgraded Centennial Res from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a research report on Thursday, September 7th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Centennial Res currently has a consensus rating of “Buy” and a consensus target price of $22.36.

Shares of Centennial Res (NASDAQ:CDEV) opened at 18.38 on Tuesday. Centennial Res has a one year low of $13.31 and a one year high of $20.97. The firm has a 50-day moving average of $18.09 and a 200-day moving average of $18.09. The firm has a market capitalization of $4.72 billion, a P/E ratio of 92.36 and a beta of 2.07.

Centennial Res (NASDAQ:CDEV) last announced its quarterly earnings data on Monday, August 7th. The oil and natural gas company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. The firm had revenue of $91.06 million during the quarter, compared to analyst estimates of $76.03 million. On average, equities analysts predict that Centennial Res will post $0.18 earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of CDEV. SG Americas Securities LLC acquired a new position in shares of Centennial Res during the 1st quarter worth about $423,000. Vanguard Group Inc. grew its position in shares of Centennial Res by 66.9% during the 1st quarter. Vanguard Group Inc. now owns 7,747,736 shares of the oil and natural gas company’s stock worth $141,241,000 after buying an additional 3,106,958 shares during the period. Geode Capital Management LLC grew its position in shares of Centennial Res by 24.7% during the 1st quarter. Geode Capital Management LLC now owns 493,830 shares of the oil and natural gas company’s stock worth $9,002,000 after buying an additional 97,886 shares during the period. Citadel Advisors LLC grew its position in shares of Centennial Res by 154.6% during the 1st quarter. Citadel Advisors LLC now owns 46,818 shares of the oil and natural gas company’s stock worth $853,000 after buying an additional 28,426 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Centennial Res by 28.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 146,556 shares of the oil and natural gas company’s stock worth $2,672,000 after buying an additional 32,327 shares during the period. Institutional investors own 97.38% of the company’s stock.

About Centennial Res

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 Res (NASDAQ:CDEV)

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