B. Riley Financial Inc. lowered its holdings in shares of Wildhorse Resource Development Corp (NYSE:WRD) by 34.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,801 shares of the oil and natural gas company’s stock after selling 17,446 shares during the quarter. B. Riley Financial Inc.’s holdings in Wildhorse Resource Development were worth $437,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of WRD. Voya Investment Management LLC purchased a new position in Wildhorse Resource Development during the second quarter worth approximately $124,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Wildhorse Resource Development during the third quarter valued at approximately $186,000. The Manufacturers Life Insurance Company acquired a new position in shares of Wildhorse Resource Development during the second quarter valued at approximately $197,000. New York State Common Retirement Fund acquired a new position in shares of Wildhorse Resource Development during the second quarter valued at approximately $212,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Wildhorse Resource Development by 559.2% during the second quarter. Wells Fargo & Company MN now owns 17,488 shares of the oil and natural gas company’s stock valued at $216,000 after acquiring an additional 14,835 shares during the last quarter. Institutional investors own 95.73% of the company’s stock.
WRD has been the subject of a number of research analyst reports. Zacks Investment Research raised Wildhorse Resource Development from a “sell” rating to a “hold” rating in a report on Friday, August 25th. ValuEngine cut Wildhorse Resource Development from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Iberia Capital initiated coverage on Wildhorse Resource Development in a report on Wednesday, September 27th. They set an “outperform” rating and a $18.00 target price for the company. BMO Capital Markets set a $17.00 target price on Wildhorse Resource Development and gave the company a “buy” rating in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $18.00 target price on shares of Wildhorse Resource Development in a report on Sunday, October 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $20.42.
Wildhorse Resource Development Corp (NYSE:WRD) traded down $0.36 during trading hours on Friday, hitting $16.69. The company had a trading volume of 482,100 shares, compared to its average volume of 539,948. Wildhorse Resource Development Corp has a 12-month low of $10.36 and a 12-month high of $17.96. 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 firm has a market capitalization of $1,724.97 and a PE ratio of 121.79.
Wildhorse Resource Development (NYSE:WRD) last posted its quarterly earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $122.50 million during the quarter, compared to analysts’ expectations of $117.89 million. Wildhorse Resource Development had a return on equity of 1.24% and a net margin of 8.88%. The business’s quarterly revenue was up 269.0% on a year-over-year basis. sell-side analysts forecast that Wildhorse Resource Development Corp will post 0.34 EPS for the current year.
Wildhorse Resource Development 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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