Wildhorse Resource Development Corporation (NYSE:WRD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “WildHorse Resource Development Corporation is an oil and natural gas company. It focused on the acquisition, exploration, development and production of oil, natural gas and NGL. The company properties primarily consist of Eagle Ford Shale in East Texas and the Over-Pressured Cotton Valley in North Louisiana. WildHorse Resource Development Corporation is based in Houston, Texas. “

A number of other equities research analysts have also recently weighed in on the company. Bank of America Corporation initiated coverage on Wildhorse Resource Development Corporation in a research note on Wednesday, July 19th. They set a “buy” rating and a $16.00 price objective for the company. BMO Capital Markets restated a “buy” rating and set a $15.00 price objective on shares of Wildhorse Resource Development Corporation in a research note on Monday, May 15th. Scotiabank restated a “buy” rating and set a $22.00 price objective on shares of Wildhorse Resource Development Corporation in a research note on Monday, June 5th. Barclays PLC restated an “overweight” rating and set a $19.00 price objective on shares of Wildhorse Resource Development Corporation in a research note on Monday, July 24th. Finally, Imperial Capital initiated coverage on Wildhorse Resource Development Corporation in a research note on Tuesday, August 1st. They set an “outperform” rating and a $22.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $20.22.

Shares of Wildhorse Resource Development Corporation (WRD) traded down 4.53% during trading on Friday, reaching $11.17. The company’s stock had a trading volume of 398,433 shares. Wildhorse Resource Development Corporation has a one year low of $10.36 and a one year high of $16.48. The company has a 50-day moving average price of $11.82 and a 200-day moving average price of $11.99. The stock has a market cap of $1.11 billion and a price-to-earnings ratio of 31.03.

Wildhorse Resource Development Corporation (NYSE:WRD) last issued its quarterly earnings data on Wednesday, August 9th. The oil and natural gas company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $70.20 million during the quarter, compared to analysts’ expectations of $68.03 million. Wildhorse Resource Development Corporation’s revenue was up 136.4% compared to the same quarter last year. On average, equities research analysts forecast that Wildhorse Resource Development Corporation will post $0.35 earnings per share for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. raised its stake in Wildhorse Resource Development Corporation by 11.2% in the first quarter. Sei Investments Co. now owns 23,375 shares of the oil and natural gas company’s stock valued at $291,000 after buying an additional 2,358 shares during the last quarter. Nationwide Fund Advisors raised its stake in Wildhorse Resource Development Corporation by 17.5% in the first quarter. Nationwide Fund Advisors now owns 30,311 shares of the oil and natural gas company’s stock valued at $377,000 after buying an additional 4,511 shares during the last quarter. Voya Investment Management LLC purchased a new stake in Wildhorse Resource Development Corporation in the second quarter valued at about $124,000. FIL Ltd raised its stake in Wildhorse Resource Development Corporation by 8.2% in the second quarter. FIL Ltd now owns 146,373 shares of the oil and natural gas company’s stock valued at $1,811,000 after buying an additional 11,053 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Wildhorse Resource Development Corporation in the first quarter valued at about $156,000. Institutional investors own 94.05% of the company’s stock.

About Wildhorse Resource Development Corporation

WildHorse Resource Development Corporation is a holding company. The Company is an independent oil and natural gas company. The Company is focused on the acquisition, exploitation, exploration and development of oil, natural gas and natural gas liquid (NGL) resources in the United States. Its assets are characterized by concentrated acreage positions in Southeast Texas and North Louisiana with multiple producing stratigraphic horizons, or stacked pay zones, and single-well rates of return.

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Analyst Recommendations for Wildhorse Resource Development Corporation (NYSE:WRD)

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