Voya Investment Management LLC Sells 3,051 Shares of Centennial Resource Development Inc (CDEV)

Voya Investment Management LLC trimmed its holdings in shares of Centennial Resource Development Inc (NASDAQ:CDEV) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,540 shares of the oil and natural gas company’s stock after selling 3,051 shares during the period. Voya Investment Management LLC’s holdings in Centennial Resource Development were worth $696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Manhattan Co. increased its stake in shares of Centennial Resource Development by 59.0% during the 2nd quarter. First Manhattan Co. now owns 1,108,557 shares of the oil and natural gas company’s stock worth $20,020,000 after purchasing an additional 411,366 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Centennial Resource Development by 15.7% during the 2nd quarter. Rhumbline Advisers now owns 170,805 shares of the oil and natural gas company’s stock worth $3,085,000 after purchasing an additional 23,131 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Centennial Resource Development by 13.3% during the 2nd quarter. Victory Capital Management Inc. now owns 110,707 shares of the oil and natural gas company’s stock worth $1,999,000 after purchasing an additional 12,977 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Centennial Resource Development during the 2nd quarter worth approximately $3,162,000. Finally, Stonebridge Capital Management Inc. purchased a new position in shares of Centennial Resource Development during the 2nd quarter worth approximately $221,000. 94.38% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on CDEV. BidaskClub raised shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. TD Securities began coverage on shares of Centennial Resource Development in a research note on Thursday, July 5th. They set a “buy” rating and a $23.00 price objective for the company. TheStreet raised shares of Centennial Resource Development from a “c” rating to a “b-” rating in a research note on Friday, August 31st. ValuEngine raised shares of Centennial Resource Development from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Finally, Susquehanna Bancshares began coverage on shares of Centennial Resource Development in a research note on Wednesday, July 11th. They set a “neutral” rating and a $21.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $24.74.

Shares of NASDAQ CDEV opened at $20.92 on Friday. Centennial Resource Development Inc has a 1 year low of $15.78 and a 1 year high of $23.12. The company has a market cap of $6.03 billion, a P/E ratio of 74.71 and a beta of 1.28. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13.

Centennial Resource Development (NASDAQ:CDEV) last announced its earnings results on Monday, August 6th. The oil and natural gas company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. Centennial Resource Development had a net margin of 24.55% and a return on equity of 5.68%. The firm had revenue of $217.76 million for the quarter, compared to analyst estimates of $220.58 million. During the same quarter last year, the business earned $0.09 earnings per share. Centennial Resource Development’s revenue was up 139.1% compared to the same quarter last year. Sell-side analysts anticipate that Centennial Resource Development Inc will post 0.95 earnings per share for the current 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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