Los Angeles Capital Management & Equity Research Inc. reduced its holdings in Centennial Resource Development Inc (NASDAQ:CDEV) by 86.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,320 shares of the oil and natural gas company’s stock after selling 147,490 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Centennial Resource Development were worth $246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Penserra Capital Management LLC grew its holdings in Centennial Resource Development by 158.7% in 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 purchasing an additional 1,924 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Centennial Resource Development in the fourth quarter worth approximately $37,000. Ffcm LLC acquired a new stake in shares of Centennial Resource Development in the fourth quarter worth approximately $100,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Centennial Resource Development by 11.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 12,100 shares of the oil and natural gas company’s stock worth $133,000 after acquiring an additional 1,224 shares during the last quarter. Finally, Stonebridge Capital Management Inc. boosted its stake in shares of Centennial Resource Development by 34.4% in the fourth quarter. Stonebridge Capital Management Inc. now owns 12,775 shares of the oil and natural gas company’s stock worth $141,000 after acquiring an additional 3,269 shares during the last quarter.

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

Centennial Resource Development (NASDAQ:CDEV) last posted its earnings results on Monday, February 25th. The oil and natural gas company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.03). Centennial Resource Development had a net margin of 22.43% and a return on equity of 6.51%. The business had revenue of $222.50 million during the quarter, compared to analysts’ expectations of $238.16 million. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. On average, research analysts predict that Centennial Resource Development Inc will post 0.4 earnings per share for the current year.

CDEV has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price target on Centennial Resource Development to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 4th. Guggenheim set a $25.00 price target on Centennial Resource Development and gave the stock a “buy” rating in a research note on Sunday, December 30th. JPMorgan Chase & Co. set a $17.00 price target on Centennial Resource Development and gave the stock a “buy” rating in a research note on Friday, December 7th. Seaport Global Securities set a $15.00 price target on Centennial Resource Development and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Finally, TD Securities lowered their price target on Centennial Resource Development from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, February 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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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