746,371 Shares in Centennial Resource Development Inc (NASDAQ:CDEV) Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund acquired a new position in shares of Centennial Resource Development Inc (NASDAQ:CDEV) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 746,371 shares of the oil and natural gas company’s stock, valued at approximately $664,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CDEV. Prescott Group Capital Management L.L.C. lifted its stake in Centennial Resource Development by 1,268.3% during the first quarter. Prescott Group Capital Management L.L.C. now owns 23,617,072 shares of the oil and natural gas company’s stock worth $6,211,000 after purchasing an additional 21,891,072 shares during the last quarter. AQR Capital Management LLC lifted its stake in Centennial Resource Development by 609.3% during the first quarter. AQR Capital Management LLC now owns 16,531,338 shares of the oil and natural gas company’s stock worth $4,348,000 after purchasing an additional 14,200,632 shares during the last quarter. State Street Corp lifted its stake in Centennial Resource Development by 29.0% during the first quarter. State Street Corp now owns 12,762,734 shares of the oil and natural gas company’s stock worth $3,357,000 after purchasing an additional 2,872,645 shares during the last quarter. WINTON GROUP Ltd bought a new position in Centennial Resource Development during the first quarter worth $422,000. Finally, Norges Bank bought a new position in Centennial Resource Development during the fourth quarter worth $6,057,000. Hedge funds and other institutional investors own 92.95% of the company’s stock.

Several equities analysts recently issued reports on CDEV shares. BidaskClub cut Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. TD Securities cut Centennial Resource Development from a “hold” rating to a “reduce” rating in a research note on Tuesday, May 5th. Zacks Investment Research cut Centennial Resource Development from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a research note on Monday, June 8th. Scotiabank raised their target price on Centennial Resource Development to $0.80 and gave the company a “sector underperform” rating in a research note on Monday, July 13th. Finally, US Capital Advisors cut Centennial Resource Development from a “buy” rating to a “hold” rating in a research note on Friday, April 24th. Eight investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $3.39.

In other news, Director Non-Eci Usrpi Aiv Riverstone bought 25,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $2.15 per share, with a total value of $53,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Us Centennial Holdings Ll Rel bought 2,449,861 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average cost of $0.90 per share, for a total transaction of $2,204,874.90. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 8,037,916 shares of company stock worth $7,173,825. 31.90% of the stock is owned by corporate insiders.

Shares of CDEV opened at $0.79 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.31 and a quick ratio of 0.31. Centennial Resource Development Inc has a one year low of $0.24 and a one year high of $6.23. The stock’s fifty day moving average is $0.96 and its 200-day moving average is $1.47.

Centennial Resource Development (NASDAQ:CDEV) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported ($1.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($1.92). The business had revenue of $192.77 million for the quarter, compared to analyst estimates of $209.29 million. Centennial Resource Development had a negative net margin of 56.81% and a negative return on equity of 0.90%. Research analysts anticipate that Centennial Resource Development Inc will post -0.58 earnings per share for the current fiscal year.

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

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