Wildhorse Resource Development (WRD) Price Target Raised to $23.00

Wildhorse Resource Development (NYSE:WRD) had its price objective lifted by Bank of America from $22.00 to $23.00 in a report issued on Tuesday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Bank of America’s target price indicates a potential upside of 40.85% from the company’s current price.

Several other equities analysts have also commented on the company. Imperial Capital upped their target price on Wildhorse Resource Development from $24.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup lowered their target price on Wildhorse Resource Development from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday. Barclays upped 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. 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 $21.00 target price on Wildhorse Resource Development and gave the company a “buy” rating in a report on Tuesday, November 14th. Two research 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 stock. The company presently has an average rating of “Buy” and an average target price of $22.56.

Shares of Wildhorse Resource Development (NYSE:WRD) traded down $0.22 during trading on Tuesday, reaching $16.33. The company had a trading volume of 72,302 shares, compared to its average volume of 603,993. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market capitalization of $1,586.36, a price-to-earnings ratio of 74.23, a P/E/G ratio of 0.30 and a beta of -0.48. Wildhorse Resource Development has a 1 year low of $10.36 and a 1 year high of $21.43.

Large investors have recently bought and sold shares of the company. American International Group Inc. boosted its position in shares of Wildhorse Resource Development by 144.4% during the fourth quarter. American International Group Inc. now owns 32,777 shares of the oil and natural gas company’s stock worth $603,000 after buying an additional 19,364 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Wildhorse Resource Development during the fourth quarter worth approximately $1,355,000. Virtu Financial LLC acquired a new position in shares of Wildhorse Resource Development during the fourth quarter worth approximately $220,000. BlackRock Inc. boosted its position in shares of Wildhorse Resource Development by 69.9% during the fourth quarter. BlackRock Inc. now owns 2,740,676 shares of the oil and natural gas company’s stock worth $50,455,000 after buying an additional 1,127,889 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Wildhorse Resource Development by 79.6% during the fourth quarter. Bank of New York Mellon Corp now owns 213,714 shares of the oil and natural gas company’s stock worth $3,934,000 after buying an additional 94,688 shares during the period. 95.28% of the stock is owned by institutional investors.

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About Wildhorse Resource Development

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.

Analyst Recommendations for Wildhorse Resource Development (NYSE:WRD)

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