Centennial Resource Development (CDEV) Receives a Hold from Wells Fargo

In a report released yesterday, Thomas Hughes CFA from Wells Fargo maintained a Hold rating on Centennial Resource Development (CDEV). The company’s shares closed last Thursday at $0.29, close to its 52-week low of $0.24.

According to TipRanks.com, CFA is ranked 0 out of 5 stars with an average return of -34.8% and a 11.8% success rate. CFA covers the Basic Materials sector, focusing on stocks such as Matador Resources, Whiting Petroleum, and Oasis Petroleum.

Centennial Resource Development has an analyst consensus of Moderate Sell, with a price target consensus of $1.90.

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Centennial Resource Development’s market cap is currently $68.52M and has a P/E ratio of 3.80. The company has a Price to Book ratio of 0.02.

Based on the recent corporate insider activity of 41 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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