Wildhorse Resource Development’s (WRD) Buy Rating Reiterated at Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of Wildhorse Resource Development (NYSE:WRD) in a research note published on Tuesday morning. The firm currently has a $29.00 target price on the oil and natural gas company’s stock.

Several other analysts also recently commented on the stock. ValuEngine upgraded shares of Wildhorse Resource Development from a sell rating to a hold rating in a report on Wednesday, January 3rd. Zacks Investment Research downgraded shares of Wildhorse Resource Development from a buy rating to a hold rating in a report on Tuesday, December 19th. Barclays increased their target price on shares of Wildhorse Resource Development from $19.00 to $21.00 and gave the company an overweight rating in a report on Monday, November 20th. BMO Capital Markets set a $21.00 target price on shares of Wildhorse Resource Development and gave the company a buy rating in a report on Tuesday, November 14th. Finally, Imperial Capital reiterated an outperform rating on shares of Wildhorse Resource Development in a report on Friday, November 10th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Wildhorse Resource Development has a consensus rating of Buy and an average price target of $20.30.

Wildhorse Resource Development (NYSE:WRD) traded up $1.21 on Tuesday, reaching $19.94. 696,300 shares of the company’s stock traded hands, compared to its average volume of 531,200. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.42 and a current ratio of 0.42. Wildhorse Resource Development has a 1 year low of $10.36 and a 1 year high of $19.97. The firm has a market capitalization of $2,020.00 and a P/E ratio of 44.31.

Wildhorse Resource Development (NYSE:WRD) last released its quarterly earnings data on Wednesday, November 8th. The oil and natural gas company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The firm had revenue of $122.50 million for the quarter, compared to the consensus estimate of $117.89 million. Wildhorse Resource Development had a net margin of 8.88% and a return on equity of 1.24%. The business’s revenue was up 269.0% on a year-over-year basis. analysts forecast that Wildhorse Resource Development will post 0.34 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC bought a new position in Wildhorse Resource Development during the second quarter valued at about $124,000. Dynamic Technology Lab Private Ltd bought a new position in Wildhorse Resource Development during the third quarter valued at about $186,000. The Manufacturers Life Insurance Company bought a new position in Wildhorse Resource Development during the second quarter valued at about $197,000. New York State Common Retirement Fund bought a new position in Wildhorse Resource Development during the second quarter valued at about $212,000. Finally, Wells Fargo & Company MN grew its position in 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 buying an additional 14,835 shares during the period. Institutional investors own 95.73% of the company’s stock.

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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.

Analyst Recommendations for Wildhorse Resource Development (NYSE:WRD)

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