Wildhorse Resource Development Corporation (NYSE:WRD) Downgraded by ValuEngine

ValuEngine lowered shares of Wildhorse Resource Development Corporation (NYSE:WRD) from a hold rating to a sell rating in a research note published on Friday, September 1st.

Other equities analysts also recently issued research reports about the stock. Scotiabank set a $19.00 price target on shares of Wildhorse Resource Development Corporation and gave the company a buy rating in a research note on Saturday, July 1st. BMO Capital Markets reissued a buy rating and set a $15.00 target price on shares of Wildhorse Resource Development Corporation in a research note on Tuesday, June 27th. Bank of America Corporation initiated coverage on shares of Wildhorse Resource Development Corporation in a research note on Wednesday, July 19th. They set a buy rating and a $16.00 target price for the company. Zacks Investment Research raised shares of Wildhorse Resource Development Corporation from a sell rating to a hold rating in a research note on Friday, August 25th. Finally, Citigroup Inc. lowered their target price on shares of Wildhorse Resource Development Corporation from $16.00 to $15.00 and set a neutral rating for the company in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $20.22.

Shares of Wildhorse Resource Development Corporation (NYSE WRD) opened at 11.58 on Friday. The firm has a market cap of $1.15 billion and a PE ratio of 32.17. Wildhorse Resource Development Corporation has a 52 week low of $11.03 and a 52 week high of $16.48. The firm’s 50-day moving average price is $11.48 and its 200 day moving average price is $11.63.

Wildhorse Resource Development Corporation (NYSE:WRD) last released 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 Thomson Reuters’ consensus estimate of $0.07 by ($0.01). The firm had revenue of $70.20 million for the quarter, compared to analysts’ expectations of $68.03 million. The firm’s quarterly revenue was up 136.4% on a year-over-year basis. Equities analysts anticipate that Wildhorse Resource Development Corporation will post $0.35 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners grew its holdings in shares of Wildhorse Resource Development Corporation by 7.4% during the first quarter. Boston Partners now owns 5,009,346 shares of the oil and natural gas company’s stock valued at $62,316,000 after buying an additional 345,639 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of Wildhorse Resource Development Corporation by 5.6% during the first quarter. TimesSquare Capital Management LLC now owns 1,931,240 shares of the oil and natural gas company’s stock valued at $24,025,000 after buying an additional 102,740 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Wildhorse Resource Development Corporation by 13.9% during the second 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 buying an additional 203,933 shares during the last quarter. Ranger Investment Management L.P. acquired a new position in shares of Wildhorse Resource Development Corporation during the first quarter valued at about $20,619,000. Finally, Caymus Capital Partners L.P. grew its holdings in shares of Wildhorse Resource Development Corporation by 228.6% during the second quarter. Caymus Capital Partners L.P. now owns 1,117,400 shares of the oil and natural gas company’s stock valued at $13,822,000 after buying an additional 777,400 shares during the last quarter. Hedge funds and other institutional investors 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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