Barclays Sticks to Its Buy Rating for Centennial Resource Development Inc (CDEV)


Barclays analyst William S. Thompson maintained a Buy rating on Centennial Resource Development Inc (CDEV) on November 16 and set a price target of $22. The company’s shares closed on Friday at $17.61.

According to TipRanks.com, Thompson is ranked #4295 out of 4897 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Centennial Resource Development Inc with a $25.33 average price target, implying a 43.8% upside from current levels. In a report issued on November 13, BMO Capital also reiterated a Buy rating on the stock with a $24 price target.

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Centennial Resource Development Inc’s market cap is currently $4.65B and has a P/E ratio of 23.36. The company has a Price to Book ratio of 1.52.

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Centennial Resource Development, Inc. is an oil and natural gas company Its activities include development and acquisition of unconventional oil and associated liquid-rich natural gas reserves in the Permian Basin. The company was founded in October 2014 and is headquartered in Denver, CO.

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