Centennial Resource Development (CDEV) Receives a Hold from RBC Capital

In a report issued on April 24, Scott Hanold from RBC Capital reiterated a Hold rating on Centennial Resource Development (CDEV), with a price target of $1.50. The company’s shares closed last Friday at $0.62, close to its 52-week low of $0.24.

According to TipRanks.com, Hanold ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -15.8% and a 31.2% success rate. Hanold covers the Utilities sector, focusing on stocks such as Southwestern Energy, Concho Resources, and Pioneer Natural.

Centennial Resource Development has an analyst consensus of Moderate Sell, with a price target consensus of $1.39.

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The company has a one-year high of $10.81 and a one-year low of $0.24. Currently, Centennial Resource Development has an average volume of 13.13M.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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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