Nisa Investment Advisors LLC Takes Position in Centennial Resource Development, Inc. (NASDAQ:CDEV)

Nisa Investment Advisors LLC bought a new stake in Centennial Resource Development, Inc. (NASDAQ:CDEVGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,370 shares of the oil and natural gas company’s stock, valued at approximately $35,000.

A number of other institutional investors have also modified their holdings of the stock. Nordea Investment Management AB increased its holdings in shares of Centennial Resource Development by 0.7% in the first quarter. Nordea Investment Management AB now owns 603,901 shares of the oil and natural gas company’s stock valued at $5,018,000 after purchasing an additional 3,913 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of Centennial Resource Development in the first quarter valued at approximately $37,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Centennial Resource Development during the fourth quarter worth $30,000. Newbridge Financial Services Group Inc. acquired a new position in Centennial Resource Development during the first quarter worth $65,000. Finally, Strs Ohio acquired a new position in Centennial Resource Development during the first quarter worth $91,000.

Analysts Set New Price Targets

CDEV has been the topic of a number of recent analyst reports. Cowen set a $10.50 price objective on Centennial Resource Development in a report on Tuesday, July 19th. Siebert Williams Shank initiated coverage on Centennial Resource Development in a report on Friday, July 22nd. They set a “buy” rating and a $12.00 price objective on the stock. MKM Partners reaffirmed a “buy” rating and set a $10.00 price objective on shares of Centennial Resource Development in a report on Wednesday, July 20th. Royal Bank of Canada upgraded Centennial Resource Development from a “sector perform” rating to an “outperform” rating and set a $11.00 target price on the stock in a research report on Wednesday, July 6th. Finally, Piper Sandler decreased their target price on Centennial Resource Development from $12.00 to $11.00 in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.13.

Centennial Resource Development Stock Up 1.1 %

Shares of NASDAQ:CDEV opened at $6.66 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.29. Centennial Resource Development, Inc. has a 52-week low of $3.90 and a 52-week high of $9.70. The stock’s fifty day simple moving average is $7.01 and its 200-day simple moving average is $7.71. The company has a market capitalization of $1.90 billion, a P/E ratio of 11.29 and a beta of 5.10.

Centennial Resource Development (NASDAQ:CDEVGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The oil and natural gas company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $347.28 million during the quarter, compared to analysts’ expectations of $307.38 million. Centennial Resource Development had a net margin of 15.92% and a return on equity of 12.30%. During the same quarter in the prior year, the company earned ($0.01) earnings per share. As a group, equities research analysts forecast that Centennial Resource Development, Inc. will post 1.89 earnings per share for the current fiscal year.

About Centennial Resource Development

(Get Rating)

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company's properties consist of acreage blocks primarily in Reeves County, West Texas and Lea County, New Mexico.

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Institutional Ownership by Quarter for Centennial Resource Development (NASDAQ:CDEV)

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