Piper Jaffray Companies assumed coverage on shares of Centennial Resource Development (NASDAQ:CDEV) in a report released on Monday, Benzinga reports. The firm issued a neutral rating and a $8.00 price objective on the oil and natural gas company’s stock. Piper Jaffray Companies also issued estimates for Centennial Resource Development’s Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.20 EPS, FY2019 earnings at $0.63 EPS, Q1 2020 earnings at $0.24 EPS, Q2 2020 earnings at $0.21 EPS, Q3 2020 earnings at $0.20 EPS, Q4 2020 earnings at $0.19 EPS and FY2020 earnings at $0.84 EPS.

A number of other brokerages have also weighed in on CDEV. TD Securities reduced their price objective on Great Canadian Gaming from C$62.00 to C$56.00 and set a buy rating on the stock in a research report on Tuesday, May 7th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their price objective on Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a neutral rating in a research report on Friday, June 7th. TheStreet upgraded Tupperware Brands from a d+ rating to a c rating in a research report on Friday, March 15th. Finally, BidaskClub upgraded Zai Lab from a sell rating to a hold rating in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Centennial Resource Development presently has a consensus rating of Hold and an average target price of $16.82.

Shares of CDEV stock opened at $7.40 on Monday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 2.57 and a beta of 1.92. Centennial Resource Development has a twelve month low of $6.22 and a twelve month high of $23.12. 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 stock’s fifty day moving average price is $7.51.

Centennial Resource Development (NASDAQ:CDEV) last issued its quarterly earnings data on Monday, May 6th. The oil and natural gas company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The business had revenue of $214.57 million for the quarter, compared to analyst estimates 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 quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. On average, sell-side analysts anticipate that Centennial Resource Development will post 0.44 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Carroll Financial Associates Inc. lifted its holdings in Centennial Resource Development by 895.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,335 shares of the oil and natural gas company’s stock worth $25,000 after buying an additional 3,000 shares during the period. Hilton Capital Management LLC acquired a new position in Centennial Resource Development during the 1st quarter worth about $47,000. Bank of Montreal Can lifted its holdings in Centennial Resource Development by 7,891.2% during the 1st quarter. Bank of Montreal Can now owns 8,151 shares of the oil and natural gas company’s stock worth $72,000 after buying an additional 8,049 shares during the period. Twin Tree Management LP lifted its holdings in Centennial Resource Development by 6,540.4% during the 1st quarter. Twin Tree Management LP now owns 9,031 shares of the oil and natural gas company’s stock worth $79,000 after buying an additional 8,895 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in Centennial Resource Development during the 4th quarter worth about $117,000. 99.39% of the stock is currently owned by hedge funds and other institutional investors.

About Centennial Resource Development

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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Analyst Recommendations for Centennial Resource Development (NASDAQ:CDEV)

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