Zacks Investment Research upgraded shares of Wildhorse Resource Development Corporation (NYSE:WRD) from a sell rating to a hold rating in a research report report published on Saturday.

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. “

Several other equities analysts have also recently issued reports on WRD. BMO Capital Markets reiterated a buy rating and set a $15.00 price target on shares of Wildhorse Resource Development Corporation in a research report on Monday, May 15th. Scotiabank reiterated a buy rating and set a $22.00 price target on shares of Wildhorse Resource Development Corporation in a research report on Monday, June 5th. Citigroup Inc. reduced their price target on shares of Wildhorse Resource Development Corporation from $16.00 to $15.00 and set a neutral rating on the stock in a research report on Thursday, July 13th. Bank of America Corporation began coverage on shares of Wildhorse Resource Development Corporation in a report on Wednesday, July 19th. They issued a buy rating and a $16.00 price objective on the stock. Finally, Barclays PLC restated an overweight rating and issued a $19.00 price objective on shares of Wildhorse Resource Development Corporation in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Wildhorse Resource Development Corporation has an average rating of Buy and an average price target of $20.22.

Shares of Wildhorse Resource Development Corporation (NYSE:WRD) opened at 11.21 on Friday. The firm has a market capitalization of $1.11 billion and a P/E ratio of 31.14. Wildhorse Resource Development Corporation has a 52 week low of $11.03 and a 52 week high of $16.48. The stock has a 50 day moving average price of $11.38 and a 200 day moving average price of $11.84.

Wildhorse Resource Development Corporation (NYSE:WRD) last announced its quarterly earnings results on Wednesday, August 9th. The oil and natural gas company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $70.20 million for the quarter, compared to the consensus estimate of $68.03 million. The business’s revenue was up 136.4% on a year-over-year basis. Analysts forecast that Wildhorse Resource Development Corporation will post $0.35 EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its holdings in Wildhorse Resource Development Corporation by 136.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 29,597 shares of the oil and natural gas company’s stock worth $366,000 after purchasing an additional 17,088 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Wildhorse Resource Development Corporation in the second quarter worth about $197,000. State Street Corp grew its holdings in Wildhorse Resource Development Corporation by 97.5% in the second quarter. State Street Corp now owns 356,656 shares of the oil and natural gas company’s stock worth $4,411,000 after purchasing an additional 176,082 shares during the period. Voya Investment Management LLC purchased a new stake in Wildhorse Resource Development Corporation in the second quarter worth about $124,000. Finally, B. Riley Financial Inc. purchased a new stake in Wildhorse Resource Development Corporation in the second quarter worth about $622,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wildhorse Resource Development Corporation Company Profile

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

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