Why Centennial Resource Development Stock Slumped 11.5% in July

Shares of Centennial Resource Development (NASDAQ: CDEV) declined by 11.5% in July, according to data provided by S&P Global Market Intelligence. Market volatility was the sole factor as undulating oil prices tossed the oil stock around quite a bit last month.

Centennial Resource went on a wild ride in July. Shares jumped along with other oil stocks on the first of the month, thanks to higher oil prices. The stock fell sharply a few days later as it gave back some of its recent gains. It then jumped a couple more times along with other oil stocks on higher oil prices, only to give back those gains, and then some, over the final several trading days of the month as crude prices faded a bit heading into August.

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Source Fool.com