Wildhorse Resource Development (WRD) Shares Up 6.5%
Wildhorse Resource Development Corp (NYSE:WRD) shot up 6.5% during mid-day trading on Thursday . The company traded as high as $19.97 and last traded at $19.94. 695,488 shares changed hands during trading, an increase of 31% from the average session volume of 531,099 shares. The stock had previously closed at $18.73.
A number of brokerages have issued reports on WRD. Barclays increased their price objective on shares of Wildhorse Resource Development from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, November 20th. Zacks Investment Research upgraded shares of Wildhorse Resource Development from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. BMO Capital Markets set a $17.00 price objective on shares of Wildhorse Resource Development and gave the stock a “buy” rating in a research note on Tuesday, October 10th. ValuEngine upgraded shares of Wildhorse Resource Development from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $23.00 price objective on shares of Wildhorse Resource Development in a research note on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $20.30.
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 stock has a market capitalization of $2,020.00 and a P/E ratio of 44.31.
Wildhorse Resource Development (NYSE:WRD) last posted its quarterly earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. Wildhorse Resource Development had a net margin of 8.88% and a return on equity of 1.24%. The company had revenue of $122.50 million for the quarter, compared to the consensus estimate of $117.89 million. Wildhorse Resource Development’s revenue was up 269.0% on a year-over-year basis. research analysts forecast that Wildhorse Resource Development Corp will post 0.34 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers acquired a new stake in shares of Wildhorse Resource Development in the 2nd quarter valued at approximately $317,000. B. Riley Financial Inc. acquired a new stake in shares of Wildhorse Resource Development in the 2nd quarter valued at approximately $622,000. Vanguard Group Inc. boosted its stake in shares of Wildhorse Resource Development by 13.9% in the 2nd 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 purchasing an additional 203,933 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Wildhorse Resource Development by 62.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 53,375 shares of the oil and natural gas company’s stock valued at $660,000 after purchasing an additional 20,471 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Wildhorse Resource Development by 70.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 88,619 shares of the oil and natural gas company’s stock valued at $1,097,000 after purchasing an additional 36,489 shares in the last quarter. Institutional investors own 95.73% 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.
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