Wildhorse Resource Development Corporation (WRD) Stock Rating Upgraded by Zacks Investment Research

Wildhorse Resource Development Corporation (NYSE:WRD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The brokerage presently has a $16.00 target price on the oil and natural gas company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 1.98% from the stock’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. “

Other equities analysts have also recently issued reports about the company. BMO Capital Markets set a $17.00 price objective on Wildhorse Resource Development Corporation and gave the stock a “buy” rating in a report on Saturday, August 12th. Scotiabank set a $19.00 price objective on Wildhorse Resource Development Corporation and gave the stock a “buy” rating in a report on Wednesday, August 9th. Piper Jaffray Companies reiterated a “buy” rating and issued a $18.00 price objective on shares of Wildhorse Resource Development Corporation in a report on Sunday, October 22nd. Imperial Capital reiterated an “outperform” rating on shares of Wildhorse Resource Development Corporation in a report on Friday, November 10th. Finally, Iberia Capital initiated coverage on Wildhorse Resource Development Corporation in a report on Wednesday, September 27th. They issued an “outperform” rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $19.83.

Wildhorse Resource Development Corporation (NYSE:WRD) opened at $15.69 on Friday. Wildhorse Resource Development Corporation has a 52-week low of $10.36 and a 52-week high of $16.48. 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 $1,480.00 and a PE ratio of 105.86.

Wildhorse Resource Development Corporation (NYSE:WRD) last posted its earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. Wildhorse Resource Development Corporation had a return on equity of 1.24% and a net margin of 8.88%. The business had revenue of $122.50 million during the quarter, compared to analysts’ expectations of $117.89 million. The firm’s revenue was up 269.0% on a year-over-year basis. equities research analysts predict that Wildhorse Resource Development Corporation will post 0.33 EPS for the current year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new position in Wildhorse Resource Development Corporation during the 3rd quarter valued at approximately $5,801,000. Castleton Investment Management LLC bought a new position in Wildhorse Resource Development Corporation during the 3rd quarter valued at approximately $799,000. Wells Fargo & Company MN raised its position in Wildhorse Resource Development Corporation by 40.7% during the 3rd quarter. Wells Fargo & Company MN now owns 24,598 shares of the oil and natural gas company’s stock valued at $328,000 after purchasing an additional 7,110 shares during the last quarter. Citadel Advisors LLC raised its position in Wildhorse Resource Development Corporation by 22.2% during the 3rd quarter. Citadel Advisors LLC now owns 471,671 shares of the oil and natural gas company’s stock valued at $6,283,000 after purchasing an additional 85,777 shares during the last quarter. Finally, Ashburton Jersey Ltd bought a new position in Wildhorse Resource Development Corporation during the 3rd quarter valued at approximately $743,000. 93.12% of the stock is owned by institutional investors and hedge funds.

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.

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

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