Wildhorse Resource Development (WRD) Given New $42.00 Price Target at Imperial Capital

Wildhorse Resource Development (NYSE:WRD) had its price objective reduced by Imperial Capital from $45.00 to $42.00 in a research note issued to investors on Friday morning, Marketbeat Ratings reports. They currently have an outperform rating on the oil and natural gas company’s stock.

A number of other analysts have also recently commented on WRD. Zacks Investment Research cut Wildhorse Resource Development from a buy rating to a hold rating in a research report on Thursday, November 1st. ValuEngine cut Wildhorse Resource Development from a hold rating to a sell rating in a research report on Thursday, November 1st. Capital One Financial cut Wildhorse Resource Development from an overweight rating to an equal weight rating in a research report on Tuesday. SunTrust Banks assumed coverage on Wildhorse Resource Development in a research report on Thursday, July 19th. They set a hold rating and a $26.00 target price on the stock. Finally, Piper Jaffray Companies set a $41.00 target price on Wildhorse Resource Development and gave the stock a buy rating in a research report on Saturday, August 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Wildhorse Resource Development presently has an average rating of Buy and a consensus price target of $28.10.

Shares of WRD traded up $0.47 during midday trading on Friday, reaching $22.17. 2,563,793 shares of the stock were exchanged, compared to its average volume of 1,984,028. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.36 and a current ratio of 0.36. Wildhorse Resource Development has a twelve month low of $14.38 and a twelve month high of $29.67. The stock has a market capitalization of $2.29 billion, a P/E ratio of 51.56 and a beta of 0.08.

Wildhorse Resource Development (NYSE:WRD) last posted its earnings results on Wednesday, November 7th. The oil and natural gas company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.07). Wildhorse Resource Development had a positive return on equity of 14.05% and a negative net margin of 11.80%. The firm had revenue of $259.50 million for the quarter, compared to analyst estimates of $226.05 million. During the same quarter last year, the firm posted $0.12 EPS. The firm’s revenue for the quarter was up 111.8% on a year-over-year basis. On average, equities research analysts forecast that Wildhorse Resource Development will post 1.86 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WRD. Wells Fargo & Company MN boosted its holdings in Wildhorse Resource Development by 47.4% in the 1st quarter. Wells Fargo & Company MN now owns 79,691 shares of the oil and natural gas company’s stock valued at $1,522,000 after purchasing an additional 25,613 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Wildhorse Resource Development in the 1st quarter valued at approximately $966,000. Russell Investments Group Ltd. purchased a new stake in Wildhorse Resource Development in the 1st quarter valued at approximately $126,000. Millennium Management LLC purchased a new stake in Wildhorse Resource Development in the 1st quarter valued at approximately $7,090,000. Finally, Legal & General Group Plc boosted its holdings in Wildhorse Resource Development by 53.7% in the 1st quarter. Legal & General Group Plc now owns 18,599 shares of the oil and natural gas company’s stock valued at $355,000 after purchasing an additional 6,496 shares in the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Wildhorse Resource Development Company Profile

WildHorse Resource Development Corporation, an independent oil and natural gas company, focuses on the acquisition, exploitation, development, and production of oil, natural gas, and natural gas liquid resources. The company primarily holds interests in the Eagle Ford Shale in East Texas and the overpressured Cotton Valley formation in North Louisiana.

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