Author Bio
Reuben Gregg Brewer believes dividends are a window into a company s soul. He tries to invest in good souls.
What happened
Shares of onshore U.S. oil and natural gas driller
Centennial Resource Development (NASDAQ:CDEV) were higher by roughly 11% at 2:30 p.m. EST today. There was no particular news out of the company, but one Wall Street analyst did make a slight change.
So what
Although Piper Sandler analyst Mark Lear didn t alter the firm s investment call on Centennial Resource Development, keeping the stock at a neutral rating, the target price was increased to $5.50 per share. That was up from $3 per share previously, but since the stock closed at $5.13 yesterday, it looks like the hike was probably more about catching up to the current price than anything else.