Waddell & Reed Financial Inc. Buys Shares of 568,030 Wildhorse Resource Development Corp (NYSE:WRD)

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Waddell & Reed Financial Inc. purchased a new position in shares of Wildhorse Resource Development Corp (NYSE:WRD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 568,030 shares of the oil and natural gas company’s stock, valued at approximately $14,405,000. Waddell & Reed Financial Inc. owned approximately 0.56% of Wildhorse Resource Development as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Wildhorse Resource Development by 47.4% during the first quarter. Wells Fargo & Company MN now owns 79,691 shares of the oil and natural gas company’s stock worth $1,522,000 after purchasing an additional 25,613 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Wildhorse Resource Development by 7.4% during the first quarter. Rhumbline Advisers now owns 48,647 shares of the oil and natural gas company’s stock worth $929,000 after purchasing an additional 3,340 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Wildhorse Resource Development by 2.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 151,822 shares of the oil and natural gas company’s stock worth $2,899,000 after purchasing an additional 3,671 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Wildhorse Resource Development during the first quarter worth about $220,000. Finally, Northern Trust Corp grew its holdings in shares of Wildhorse Resource Development by 1.3% during the first quarter. Northern Trust Corp now owns 475,121 shares of the oil and natural gas company’s stock worth $9,070,000 after purchasing an additional 5,975 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

WRD has been the topic of a number of research reports. Seaport Global Securities assumed coverage on Wildhorse Resource Development in a report on Wednesday, June 20th. They set a “buy” rating and a $37.00 price target on the stock. SunTrust Banks assumed coverage on Wildhorse Resource Development in a report on Thursday, July 19th. They issued a “hold” rating and a $26.00 price objective on the stock. Zacks Investment Research raised Wildhorse Resource Development from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, July 27th. Finally, Piper Jaffray Companies set a $41.00 price objective on Wildhorse Resource Development and gave the company a “buy” rating in a report on Saturday, August 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $27.00.

Shares of Wildhorse Resource Development stock traded up $0.75 during trading on Friday, hitting $23.59. 1,073,951 shares of the company were exchanged, compared to its average volume of 1,153,618. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.36 and a quick ratio of 0.36. Wildhorse Resource Development Corp has a fifty-two week low of $11.95 and a fifty-two week high of $29.67. The company has a market capitalization of $2.41 billion, a P/E ratio of 54.86 and a beta of -1.10.

Wildhorse Resource Development (NYSE:WRD) last issued its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.11). The company had revenue of $225.41 million for the quarter, compared to analyst estimates of $204.16 million. Wildhorse Resource Development had a positive return on equity of 11.39% and a negative net margin of 16.95%. As a group, research analysts expect that Wildhorse Resource Development Corp will post 1.8 EPS for the current fiscal year.

Wildhorse Resource Development Profile

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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Institutional Ownership by Quarter for Wildhorse Resource Development (NYSE:WRD)

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