Van ECK Associates Corp Trims Position in Centennial Resource Development Inc (CDEV)

Van ECK Associates Corp trimmed its holdings in shares of Centennial Resource Development Inc (NASDAQ:CDEV) by 50.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,308 shares of the oil and natural gas company’s stock after selling 17,721 shares during the period. Van ECK Associates Corp’s holdings in Centennial Resource Development were worth $191,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its position in shares of 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 acquiring an additional 1,224 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Centennial Resource Development by 1.1% in the 4th quarter. Rhumbline Advisers now owns 169,604 shares of the oil and natural gas company’s stock valued at $1,869,000 after acquiring an additional 1,864 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Centennial Resource Development by 158.7% in the 4th quarter. Penserra Capital Management LLC now owns 3,136 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 1,924 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Centennial Resource Development by 10.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 27,638 shares of the oil and natural gas company’s stock valued at $603,000 after acquiring an additional 2,566 shares in the last quarter. Finally, Stonebridge Capital Management Inc. lifted its position in shares of 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 acquiring an additional 3,269 shares in the last quarter.

CDEV stock opened at $9.18 on Friday. Centennial Resource Development Inc has a 12-month low of $8.28 and a 12-month high of $23.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.31 and a beta of 1.84.

Centennial Resource Development (NASDAQ:CDEV) last released its earnings results on Monday, February 25th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $222.50 million during the quarter, compared to analysts’ expectations of $238.16 million. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, research analysts expect that Centennial Resource Development Inc will post 0.4 earnings per share for the current fiscal year.

Several equities research analysts recently commented on the stock. ValuEngine downgraded shares of Centennial Resource Development from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 28th. TD Securities reduced their price target on shares of Centennial Resource Development from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, February 27th. Cowen downgraded shares of Centennial Resource Development from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $15.00 to $11.00 in a research report on Wednesday, February 27th. Credit Suisse Group set a $12.00 price target on shares of Centennial Resource Development and gave the company a “hold” rating in a research report on Tuesday, February 26th. Finally, Guggenheim set a $20.00 price target on shares of Centennial Resource Development and gave the company a “buy” rating in a research report on Tuesday, February 26th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.61.

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Centennial Resource Development 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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