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

RBC Capital analyst Scott Hanold maintained a Hold rating on Centennial Resource Development (CDEVResearch Report) on January 12 and set a price target of $10.00. The company’s shares closed last Thursday at $7.26, close to its 52-week high of $8.29.

According to TipRanks.com, Hanold is a 5-star analyst with an average return of 17.0% and a 56.7% success rate. Hanold covers the Utilities sector, focusing on stocks such as Whiting Petroleum Corporation, Continental Resources, and Northern Oil And Gas.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Centennial Resource Development with a $8.06 average price target.

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Centennial Resource Development’s market cap is currently $2.09B and has a P/E ratio of -17.70.

Based on the recent corporate insider activity of 37 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.

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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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