Wildhorse Resource Development Corp (WRD) Given Consensus Recommendation of “Buy” by Analysts
Shares of Wildhorse Resource Development Corp (NYSE:WRD) have earned a consensus rating of “Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $20.70.
WRD has been the topic of several analyst reports. Zacks Investment Research raised Wildhorse Resource Development from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Friday, November 10th. Iberia Capital started coverage on Wildhorse Resource Development in a report on Wednesday, September 27th. They issued an “outperform” rating and a $18.00 target price on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $18.00 price target on shares of Wildhorse Resource Development in a research note on Sunday, October 22nd. Imperial Capital restated an “outperform” rating on shares of Wildhorse Resource Development in a research note on Friday, November 10th. Finally, BMO Capital Markets set a $21.00 price target on Wildhorse Resource Development and gave the stock a “buy” rating in a research note on Tuesday, November 14th.
Shares of Wildhorse Resource Development (WRD) opened at $17.99 on Monday. 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 1-year low of $10.36 and a 1-year high of $18.84. The company has a market capitalization of $1,820.07 and a price-to-earnings ratio of 81.78.
Wildhorse Resource Development (NYSE:WRD) last released 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 had a return on equity of 1.24% and a net margin of 8.88%. The business had revenue of $122.50 million for the quarter, compared to the consensus estimate of $117.89 million. Wildhorse Resource Development’s revenue for the quarter was up 269.0% compared to the same quarter last year. sell-side analysts anticipate that Wildhorse Resource Development will post 0.34 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of WRD. Voya Investment Management LLC purchased a new stake in Wildhorse Resource Development during the second quarter valued at $124,000. Dynamic Technology Lab Private Ltd purchased a new stake in Wildhorse Resource Development during the third quarter valued at $186,000. The Manufacturers Life Insurance Company purchased a new stake in Wildhorse Resource Development during the second quarter valued at $197,000. New York State Common Retirement Fund purchased a new stake in Wildhorse Resource Development during the second quarter valued at $212,000. Finally, Wells Fargo & Company MN increased its position in Wildhorse Resource Development by 559.2% during the second quarter. Wells Fargo & Company MN now owns 17,488 shares of the oil and natural gas company’s stock valued at $216,000 after acquiring an additional 14,835 shares during the last quarter. Hedge funds and other institutional investors own 95.73% of the company’s stock.
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.
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