Wildhorse Resource Development Corporation (WRD) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Wildhorse Resource Development Corporation (NYSE:WRD) from a hold rating to a buy rating in a research report sent to investors on Saturday morning. They currently have $16.00 target price on the oil and natural gas company’s stock.

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. “

A number of other brokerages also recently commented on WRD. Imperial Capital restated an outperform rating on shares of Wildhorse Resource Development Corporation in a research note on Friday, November 10th. BMO Capital Markets set a $21.00 target price on Wildhorse Resource Development Corporation and gave the company a buy rating in a research note on Tuesday, November 14th. Piper Jaffray Companies restated a buy rating and issued a $18.00 target price on shares of Wildhorse Resource Development Corporation in a research note on Sunday, October 22nd. Iberia Capital began coverage on Wildhorse Resource Development Corporation in a research note on Wednesday, September 27th. They issued an outperform rating and a $18.00 target price on the stock. Finally, Scotiabank set a $19.00 target price on Wildhorse Resource Development Corporation and gave the company a buy rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Wildhorse Resource Development Corporation has a consensus rating of Buy and a consensus price target of $19.83.

Shares of Wildhorse Resource Development Corporation (WRD) traded up $1.03 during midday trading on Friday, reaching $15.69. The company’s stock had a trading volume of 491,535 shares, compared to its average volume of 489,094. 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 Corporation has a 1 year low of $10.36 and a 1 year high of $16.48. The stock has a market capitalization of $1,587.37 and a P/E ratio of 112.07.

Wildhorse Resource Development Corporation (NYSE:WRD) last issued its earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. Wildhorse Resource Development Corporation had a return on equity of 1.24% and a net margin of 8.88%. The firm had revenue of $122.50 million for the quarter, compared to the consensus estimate of $117.89 million. The business’s revenue for the quarter was up 269.0% compared to the same quarter last year. equities research analysts forecast that Wildhorse Resource Development Corporation will post 0.34 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in shares of Wildhorse Resource Development Corporation during the 2nd quarter worth about $317,000. JPMorgan Chase & Co. boosted its stake in shares of Wildhorse Resource Development Corporation by 264.4% during the 1st quarter. JPMorgan Chase & Co. now owns 18,218 shares of the oil and natural gas company’s stock worth $227,000 after acquiring an additional 13,218 shares in the last quarter. B. Riley Financial Inc. bought a new stake in shares of Wildhorse Resource Development Corporation during the 2nd quarter worth about $622,000. UBS Group AG bought a new stake in shares of Wildhorse Resource Development Corporation during the 1st quarter worth about $797,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Wildhorse Resource Development Corporation by 70.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 88,619 shares of the oil and natural gas company’s stock worth $1,097,000 after acquiring an additional 36,489 shares in the last quarter. Institutional investors own 93.12% 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.

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

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