Centennial Resource Development (CDEV) Gets a Hold Rating from RBC Capital

In a report issued on May 30, Scott Hanold from RBC Capital maintained a Hold rating on Centennial Resource Development (CDEVResearch Report), with a price target of $11.00. The company’s shares closed last Wednesday at $8.52.

According to TipRanks.com, Hanold is a top 25 analyst with an average return of 33.9% and a 69.5% success rate. Hanold covers the Utilities sector, focusing on stocks such as California Resources Corp, Continental Resources, and Northern Oil And Gas.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Centennial Resource Development with a $10.85 average price target, representing a 32.8% upside. In a report issued on May 20, Truist Financial also maintained a Hold rating on the stock with a $8.00 price target.

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Centennial Resource Development’s market cap is currently $2.26B and has a P/E ratio of 13.43.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CDEV in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Silver Run Acquisition Corporation operates as a special purpose acquisition company. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. Silver Run Acquisition focuses on acquiring a target business in the energy industry.

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