Centennial Res (CDEV) Receives New Coverage from Analysts at Wolfe Research

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

Several other research analysts have also recently weighed in on CDEV. Howard Weil initiated coverage on Centennial Res in a research report on Friday, July 21st. They set a sector outperform rating and a $21.00 price objective for the company. Scotia Howard Weill initiated coverage on Centennial Res in a research report on Friday, July 21st. They set a sector outperform rating and a $21.00 price objective for the company. Scotiabank reaffirmed an outperform rating and set a $21.00 price objective on shares of Centennial Res in a research report on Saturday, July 22nd. J P Morgan Chase & Co started coverage on Centennial Res in a report on Tuesday, August 1st. They set an overweight rating and a $19.00 target price on the stock. Finally, BMO Capital Markets set a $18.00 target price on Centennial Res and gave the stock a hold rating in a report on Saturday, August 12th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $22.50.

Centennial Res (NASDAQ:CDEV) opened at $20.08 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.43. Centennial Res has a 52-week low of $13.31 and a 52-week high of $22.11.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Centennial Res by 0.3% in the second quarter. Vanguard Group Inc. now owns 7,773,597 shares of the oil and natural gas company’s stock valued at $122,979,000 after buying an additional 25,861 shares during the period. Clinton Group Inc. bought a new stake in Centennial Res in the second quarter valued at approximately $364,000. Neuberger Berman Group LLC raised its stake in Centennial Res by 37.9% in the second quarter. Neuberger Berman Group LLC now owns 2,753,691 shares of the oil and natural gas company’s stock valued at $43,563,000 after buying an additional 756,938 shares during the period. Gluskin Sheff & Assoc Inc. bought a new stake in Centennial Res in the third quarter valued at approximately $927,000. Finally, Airain ltd bought a new stake in Centennial Res in the second quarter valued at approximately $1,823,000. Institutional investors and hedge funds own 90.50% of the company’s stock.

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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