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


Wells Fargo analyst Thomas Hughes CFA maintained a Hold rating on Centennial Resource Development (CDEV) today. The company’s shares closed last Wednesday at $0.92, close to its 52-week low of $0.24.

According to TipRanks.com, CFA is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -11.3% and a 34.8% success rate. CFA covers the Utilities sector, focusing on stocks such as Matador Resources, Berry Petroleum, and EOG Resources.

Currently, the analyst consensus on Centennial Resource Development is a Hold with an average price target of $1.11, implying a 23.3% upside from current levels. In a report issued on July 12, RBC Capital also maintained a Hold rating on the stock with a $1.50 price target.

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The company has a one-year high of $6.41 and a one-year low of $0.24. Currently, Centennial Resource Development has an average volume of 18.11M.

Based on the recent corporate insider activity of 57 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.

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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