Wildhorse Resource Development (NYSE:WRD) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday.

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 analysts have also recently issued research reports about the stock. Seaport Global Securities initiated coverage on shares of Wildhorse Resource Development in a research note on Wednesday, June 20th. They issued a “buy” rating and a $37.00 price target on the stock. Piper Jaffray Companies set a $41.00 price target on shares of Wildhorse Resource Development and gave the stock a “buy” rating in a research note on Saturday, August 11th. Finally, SunTrust Banks upgraded shares of Wildhorse Resource Development from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, August 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.18.

Wildhorse Resource Development stock traded up $0.46 during mid-day trading on Thursday, hitting $23.52. The stock had a trading volume of 47,971 shares, compared to its average volume of 1,307,668. The company has a market capitalization of $2.36 billion, a P/E ratio of 54.72 and a beta of -1.04. 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 one year low of $11.95 and a one year high of $29.67.

Wildhorse Resource Development (NYSE:WRD) last announced its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.11). The company had revenue of $225.41 million during the quarter, compared to analysts’ expectations of $204.16 million. Wildhorse Resource Development had a positive return on equity of 11.39% and a negative net margin of 16.95%. analysts forecast that Wildhorse Resource Development will post 1.8 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in shares of Wildhorse Resource Development by 372.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 9,171 shares of the oil and natural gas company’s stock valued at $233,000 after buying an additional 7,229 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Wildhorse Resource Development during the 2nd quarter valued at about $282,000. Jane Street Group LLC purchased a new stake in shares of Wildhorse Resource Development during the 2nd quarter valued at about $3,075,000. Millennium Management LLC raised its position in shares of Wildhorse Resource Development by 76.3% during the 2nd quarter. Millennium Management LLC now owns 654,938 shares of the oil and natural gas company’s stock valued at $16,609,000 after buying an additional 283,542 shares in the last quarter. Finally, Waddell & Reed Financial Inc. purchased a new stake in shares of Wildhorse Resource Development during the 2nd quarter valued at about $14,405,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

About Wildhorse Resource Development

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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