Wildhorse Resource Development (WRD) Upgraded at Zacks Investment Research

Wildhorse Resource Development (NYSE:WRD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Sunday. The firm presently has a $22.00 price target on the oil and natural gas company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.75% from the stock’s previous close.

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 analysts have also issued reports on the company. Barclays raised their target price on Wildhorse Resource Development from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Imperial Capital reaffirmed an “outperform” rating on shares of Wildhorse Resource Development in a report on Friday, November 10th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $23.00 target price on shares of Wildhorse Resource Development in a report on Wednesday, November 22nd. ValuEngine raised Wildhorse Resource Development from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, BMO Capital Markets set a $17.00 target price on Wildhorse Resource Development and gave the company a “buy” rating in a report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $20.33.

Shares of Wildhorse Resource Development (NYSE:WRD) opened at $19.34 on Friday. The stock has a market capitalization of $1,948.56 and a P/E ratio of 87.91. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.57. Wildhorse Resource Development has a fifty-two week low of $10.36 and a fifty-two week high of $21.43.

Wildhorse Resource Development (NYSE:WRD) last released its earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. The firm had revenue of $122.50 million for the quarter, compared to analyst estimates of $117.89 million. Wildhorse Resource Development had a return on equity of 1.24% and a net margin of 8.88%. The business’s revenue for the quarter was up 269.0% compared to the same quarter last year. equities research analysts forecast that Wildhorse Resource Development will post 0.35 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Wildhorse Resource Development by 13.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,670,558 shares of the oil and natural gas company’s stock worth $20,665,000 after purchasing an additional 203,933 shares in the last quarter. Citadel Advisors LLC grew its holdings in shares of Wildhorse Resource Development by 22.2% during the 3rd quarter. Citadel Advisors LLC now owns 471,671 shares of the oil and natural gas company’s stock worth $6,283,000 after purchasing an additional 85,777 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Wildhorse Resource Development by 4.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 457,756 shares of the oil and natural gas company’s stock worth $6,099,000 after purchasing an additional 18,811 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Wildhorse Resource Development during the 3rd quarter worth approximately $5,801,000. Finally, State Street Corp grew its holdings in shares of Wildhorse Resource Development by 97.5% during the 2nd quarter. State Street Corp now owns 356,656 shares of the oil and natural gas company’s stock worth $4,411,000 after purchasing an additional 176,082 shares in the last quarter. 95.73% of the stock is currently owned by institutional investors.

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Wildhorse Resource Development Company Profile

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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