Wildhorse Resource Development Corporation (NYSE:WRD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $14.00 price objective on the oil and natural gas company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.64% from the company’s current price.

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. “

Several other research firms also recently commented on WRD. Bank of America Corporation assumed coverage on Wildhorse Resource Development Corporation in a report on Wednesday, July 19th. They issued a “buy” rating and a $16.00 price objective for the company. BMO Capital Markets restated a “buy” rating and issued a $15.00 price target on shares of Wildhorse Resource Development Corporation in a research note on Tuesday, June 27th. ValuEngine cut Wildhorse Resource Development Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Iberia Capital initiated coverage on Wildhorse Resource Development Corporation in a research report on Wednesday, September 27th. They set an “outperform” rating and a $18.00 price objective on the stock. Finally, Barclays PLC reiterated an “overweight” rating and set a $19.00 price objective on shares of Wildhorse Resource Development Corporation in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Wildhorse Resource Development Corporation has an average rating of “Buy” and an average target price of $19.33.

Shares of Wildhorse Resource Development Corporation (WRD) traded down 0.08% on Tuesday, hitting $12.53. 20,426 shares of the company’s stock traded hands. Wildhorse Resource Development Corporation has a 1-year low of $10.36 and a 1-year high of $16.48. The company has a market cap of $1.24 billion and a price-to-earnings ratio of 34.81. The firm’s 50-day moving average price is $12.45 and its 200 day moving average price is $12.45.

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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). The company had revenue of $70.20 million during the quarter, compared to analyst estimates of $68.03 million. Wildhorse Resource Development Corporation’s revenue for the quarter was up 136.4% compared to the same quarter last year. On average, equities research analysts expect that Wildhorse Resource Development Corporation will post $0.32 earnings per share for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Voya Investment Management LLC bought a new stake in Wildhorse Resource Development Corporation in the second quarter worth approximately $124,000. The Manufacturers Life Insurance Company bought a new stake in shares of Wildhorse Resource Development Corporation during the second quarter valued at approximately $197,000. New York State Common Retirement Fund bought a new stake in shares of Wildhorse Resource Development Corporation during the second quarter valued at approximately $212,000. Wells Fargo & Company MN increased its holdings in shares of Wildhorse Resource Development Corporation by 559.2% during the second quarter. Wells Fargo & Company MN now owns 17,488 shares of the oil and natural gas company’s stock valued at $216,000 after acquiring an additional 14,835 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Wildhorse Resource Development Corporation by 264.4% during the first quarter. JPMorgan Chase & Co. now owns 18,218 shares of the oil and natural gas company’s stock valued at $227,000 after acquiring an additional 13,218 shares in the last quarter. Institutional investors own 93.96% 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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