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Fly News Breaks for December 6, 2019
CDEV
Dec 6, 2019 | 06:07 EDT
Barclays analyst William Thompson downgraded Centennial Resource Development to Equal Weight from Overweight with a price target of $3, down from $6. While the shares are cheap on a dollar to net acre basis, continued outspend makes Centennial expensive on net asset value, barring meaningful oil price and/or capital efficiency upside, Thompson tells investors in a research note.
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