Westwood Holdings Group Inc. decreased its holdings in shares of Centennial Resource Development Inc (NASDAQ:CDEV) by 70.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 530,200 shares of the oil and natural gas company’s stock after selling 1,240,430 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Centennial Resource Development were worth $4,660,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. boosted its stake in Centennial Resource Development by 11.3% during 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 purchasing an additional 1,224 shares during the period. Rhumbline Advisers boosted its stake in Centennial Resource Development by 1.1% during 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 purchasing an additional 1,864 shares during the period. Penserra Capital Management LLC boosted its stake in Centennial Resource Development by 158.7% during 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 purchasing an additional 1,924 shares during the period. Legal & General Group Plc boosted its stake in Centennial Resource Development by 3.7% during the 4th quarter. Legal & General Group Plc now owns 84,535 shares of the oil and natural gas company’s stock valued at $931,000 after purchasing an additional 2,978 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in Centennial Resource Development by 11.6% during the 4th quarter. GSA Capital Partners LLP now owns 33,057 shares of the oil and natural gas company’s stock valued at $364,000 after purchasing an additional 3,449 shares during the period. Hedge funds and other institutional investors own 99.45% of the company’s stock.
Shares of Centennial Resource Development stock traded down $0.43 during midday trading on Friday, hitting $6.46. 1,773,008 shares of the company were exchanged, compared to its average volume of 3,010,893. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $1.85 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.92 and a beta of 2.15. Centennial Resource Development Inc has a 52 week low of $6.60 and a 52 week high of $23.12.
Centennial Resource Development (NASDAQ:CDEV) last posted its earnings results on Monday, May 6th. The oil and natural gas company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. The business had revenue of $214.57 million during the quarter, compared to the consensus estimate of $211.08 million. Centennial Resource Development had a return on equity of 5.04% and a net margin of 14.13%. Centennial Resource Development’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. Equities analysts anticipate that Centennial Resource Development Inc will post 0.45 earnings per share for the current fiscal year.
Several brokerages recently weighed in on CDEV. BMO Capital Markets downgraded Centennial Resource Development from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $20.00 to $10.00 in a research note on Tuesday, February 26th. Barclays upgraded Centennial Resource Development from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $10.00 to $13.00 in a research note on Tuesday, April 30th. BidaskClub upgraded Centennial Resource Development from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Wells Fargo & Co initiated coverage on Centennial Resource Development in a research report on Monday, May 20th. They issued a “market perform” rating and a $12.00 price objective for the company. Finally, Credit Suisse Group set a $12.00 price objective on Centennial Resource Development and gave the stock a “hold” rating in a research report on Tuesday, February 26th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Centennial Resource Development currently has an average rating of “Hold” and an average price target of $17.82.
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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