Centennial Resource Development Inc (CDEV) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Centennial Resource Development Inc (NASDAQ:CDEV) by 12.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 438,683 shares of the oil and natural gas company’s stock after acquiring an additional 47,194 shares during the quarter. Bank of New York Mellon Corp owned about 0.16% of Centennial Resource Development worth $7,883,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in CDEV. Rhumbline Advisers increased its position in shares of Centennial Resource Development by 11.9% in the third quarter. Rhumbline Advisers now owns 109,454 shares of the oil and natural gas company’s stock valued at $1,967,000 after buying an additional 11,603 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Centennial Resource Development in the third quarter valued at $345,000. Cavalier Investments LLC purchased a new position in shares of Centennial Resource Development in the third quarter valued at $395,000. Prudential Financial Inc. purchased a new position in shares of Centennial Resource Development in the third quarter valued at $189,000. Finally, Gluskin Sheff & Assoc Inc. purchased a new position in shares of Centennial Resource Development in the third quarter valued at $927,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Shares of Centennial Resource Development Inc (NASDAQ:CDEV) opened at $20.22 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $5,250.00 and a price-to-earnings ratio of -17.74. Centennial Resource Development Inc has a 52 week low of $14.10 and a 52 week high of $22.11.

A number of brokerages have recently weighed in on CDEV. Scotiabank restated a “buy” rating and issued a $22.00 price target on shares of Centennial Resource Development in a research report on Tuesday, November 7th. BidaskClub upgraded Centennial Resource Development from a “hold” rating to a “buy” rating in a research report on Wednesday. Wolfe Research began coverage on Centennial Resource Development in a research report on Tuesday, November 14th. They issued an “outperform” rating for the company. Zacks Investment Research cut Centennial Resource Development from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Credit Suisse Group began coverage on Centennial Resource Development in a research report on Monday, December 11th. They issued an “outperform” rating and a $22.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $22.47.

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About Centennial Resource Development

Centennial Resource Development, Inc is an independent oil and natural gas company. The Company is focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.

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

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