The Short Interest in Centennial Resource Development Inc (CDEV) Expands By 17.3%

The Short Interest in Centennial Resource Development Inc (CDEV) Expands By 17.3%

CDEV has been the subject of a number of recent research reports. Tudor Pickering reiterated a “buy” rating and set a $29.00 price objective on shares of Centennial Resource Development in a research note on Thursday, March 30th. Zacks Investment Research lowered Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Wednesday, February 22nd. Stifel Nicolaus started coverage on Centennial Resource Development in a report on Wednesday, April 12th. They issued a “buy” rating and a $24.00 price objective for the company. Canaccord Genuity cut their price objective on Centennial Resource Development from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, March 27th. Finally, Citigroup Inc started coverage on Centennial Resource Development in a report on Monday, May 1st. They issued a “buy” rating and a $21.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $23.57.

Centennial Resource Development Inc (NASDAQ:CDEV) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 18,929,254 shares, a growth of 17.3% from the April 28th total of 16,142,567 shares. Currently, 16.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,989,601 shares, the days-to-cover ratio is presently 9.5 days.

Centennial Resource Development (CDEV) opened at 15.25 on Monday. The company has a market cap of $3.16 billion and a price-to-earnings ratio of 221.01. The stock has a 50 day moving average price of $16.53 and a 200-day moving average price of $17.86. Centennial Resource Development has a 1-year low of $9.65 and a 1-year high of $20.97. A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Washington Trust Bank bought a new position in shares of Centennial Resource Development during the first quarter worth about $224,000. Fayez Sarofim & Co boosted its position in shares of Centennial Resource Development by 1.9% in the first quarter. Fayez Sarofim & Co now owns 13,350 shares of the oil and natural gas company’s stock worth $243,000 after buying an additional 250 shares during the period. Credit Suisse AG bought a new position in shares of Centennial Resource Development during the first quarter worth about $283,000. Howard Hughes Medical Institute boosted its position in shares of Centennial Resource Development by 15.4% in the first quarter. Howard Hughes Medical Institute now owns 17,237 shares of the oil and natural gas company’s stock worth $314,000 after buying an additional 2,296 shares during the period. Finally, Koch Industries Inc. bought a new position in shares of Centennial Resource Development during the first quarter worth about $325,000. 67.45% of the stock is owned by institutional investors.

Centennial Resource Development (CDEV) opened at 15.25 on Monday. The company has a market cap of $3.16 billion and a price-to-earnings ratio of 221.01. The stock has a 50 day moving average price of $16.53 and a 200-day moving average price of $17.86. Centennial Resource Development has a 1-year low of $9.65 and a 1-year high of $20.97. Centennial Resource Development Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CDEV”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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