Wildhorse Resource Development (WRD) Given a $31.00 Price Target at Piper Jaffray Companies

Wildhorse Resource Development (NYSE:WRD) has been assigned a $31.00 price target by equities research analysts at Piper Jaffray Companies in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 83.87% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Imperial Capital upped their price target on shares of Wildhorse Resource Development from $24.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday. Barclays upped their price target on shares of Wildhorse Resource Development from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Bank of America increased their target price on shares of Wildhorse Resource Development from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday. ValuEngine upgraded shares of Wildhorse Resource Development from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Citigroup reduced their target price on shares of Wildhorse Resource Development from $23.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.78.

Wildhorse Resource Development (WRD) traded up $0.28 during trading on Tuesday, hitting $16.86. 296,642 shares of the stock traded hands, compared to its average volume of 613,133. The firm has a market capitalization of $1,674.38, a PE ratio of 76.82, a PEG ratio of 0.32 and a beta of -0.48. Wildhorse Resource Development has a 12 month low of $10.36 and a 12 month high of $21.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.42 and a quick ratio of 0.42.

A number of hedge funds have recently made changes to their positions in WRD. BlackRock Inc. lifted its stake in Wildhorse Resource Development by 69.9% in the fourth quarter. BlackRock Inc. now owns 2,740,676 shares of the oil and natural gas company’s stock valued at $50,455,000 after acquiring an additional 1,127,889 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Wildhorse Resource Development in the third quarter valued at $5,801,000. Ameriprise Financial Inc. lifted its stake in Wildhorse Resource Development by 503.1% in the second quarter. Ameriprise Financial Inc. now owns 438,945 shares of the oil and natural gas company’s stock valued at $5,430,000 after acquiring an additional 366,168 shares during the last quarter. Vanguard Group Inc. lifted its stake in Wildhorse Resource Development by 13.9% in the second quarter. Vanguard Group Inc. now owns 1,670,558 shares of the oil and natural gas company’s stock valued at $20,665,000 after acquiring an additional 203,933 shares during the last quarter. Finally, State Street Corp lifted its stake in Wildhorse Resource Development by 97.5% in the second quarter. State Street Corp now owns 356,656 shares of the oil and natural gas company’s stock valued at $4,411,000 after acquiring an additional 176,082 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

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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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