Centennial Resource Development Inc (CDEV) Holdings Lifted by Whittier Trust Co.

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Whittier Trust Co. raised its holdings in shares of Centennial Resource Development Inc (NASDAQ:CDEV) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,030 shares of the oil and natural gas company’s stock after buying an additional 5,795 shares during the period. Whittier Trust Co.’s holdings in Centennial Resource Development were worth $1,091,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CDEV. Penserra Capital Management LLC raised its stake in shares of Centennial Resource Development by 158.7% during the fourth 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. Quantamental Technologies LLC bought a new stake in shares of Centennial Resource Development during the fourth quarter valued at approximately $37,000. First Interstate Bank bought a new stake in shares of Centennial Resource Development during the third quarter valued at approximately $133,000. Stonebridge Capital Management Inc. raised its stake in shares of Centennial Resource Development by 34.4% during the fourth 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. Finally, Cibc Bank USA bought a new stake in shares of Centennial Resource Development during the fourth quarter valued at approximately $201,000.

Several research firms have recently weighed in on CDEV. BidaskClub downgraded shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Zacks Investment Research downgraded shares of Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Friday, November 9th. ValuEngine downgraded shares of Centennial Resource Development from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th. Credit Suisse Group downgraded shares of Centennial Resource Development from an “outperform” rating to a “neutral” rating and set a $22.00 price target for the company. in a research note on Monday, November 12th. Finally, Barclays reduced their price objective on shares of Centennial Resource Development from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, November 16th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Centennial Resource Development has a consensus rating of “Hold” and a consensus price target of $23.17.

Shares of CDEV stock traded down $0.09 during trading hours on Thursday, reaching $13.01. 73,676 shares of the company’s stock were exchanged, compared to its average volume of 2,244,737. The company has a market cap of $3.56 billion, a PE ratio of 46.50, a PEG ratio of 0.61 and a beta of 2.07. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17. Centennial Resource Development Inc has a fifty-two week low of $9.87 and a fifty-two week high of $23.12.

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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.

Further Reading: What is insider trading?

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

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