Wildhorse Resource Development (NYSE:WRD) Downgraded by Zacks Investment Research to Hold

Wildhorse Resource Development (NYSE:WRD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday, November 11th.

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 have also recently issued reports on WRD. Imperial Capital initiated coverage on shares of Wildhorse Resource Development in a research report on Tuesday, August 1st. They issued an “outperform” rating and a $22.00 target price for the company. BMO Capital Markets set a $17.00 price objective on shares of Wildhorse Resource Development and gave the stock a “buy” rating in a research report on Saturday, August 12th. Iberia Capital started coverage on shares of Wildhorse Resource Development in a research report on Wednesday, September 27th. They set an “outperform” rating and a $18.00 price objective for the company. Barclays reaffirmed an “overweight” rating and set a $19.00 price objective on shares of Wildhorse Resource Development in a research report on Monday, July 24th. Finally, ValuEngine cut shares of Wildhorse Resource Development from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Wildhorse Resource Development has an average rating of “Buy” and a consensus target price of $20.42.

Wildhorse Resource Development (NYSE:WRD) traded up $0.10 during mid-day trading on Friday, reaching $16.50. 432,275 shares of the company’s stock were exchanged, compared to its average volume of 540,636. The company has a market capitalization of $1,670.34 and a PE ratio of 117.93. Wildhorse Resource Development has a 1 year low of $10.36 and a 1 year high of $17.10. 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 (NYSE:WRD) last announced its earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. The company had revenue of $122.50 million during the quarter, compared to analysts’ expectations 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. research analysts expect that Wildhorse Resource Development will post 0.34 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC acquired a new position in Wildhorse Resource Development during the second quarter worth about $124,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Wildhorse Resource Development in the third quarter valued at approximately $186,000. The Manufacturers Life Insurance Company acquired a new position in shares of Wildhorse Resource Development in the second quarter valued at approximately $197,000. New York State Common Retirement Fund acquired a new position in shares of Wildhorse Resource Development in the second quarter valued at approximately $212,000. Finally, Wells Fargo & Company MN increased its stake in shares of Wildhorse Resource Development by 559.2% in 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. 95.70% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by BBNS and is the sole property of of BBNS. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://baseballnewssource.com/markets/wildhorse-resource-development-corporation-wrd-lowered-to-hold-at-zacks-investment-research/1777474.html.

About Wildhorse Resource Development

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.

Get a free copy of the Zacks research report on Wildhorse Resource Development (WRD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Wildhorse Resource Development (NYSE:WRD)

Receive News & Ratings for Wildhorse Resource Development Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wildhorse Resource Development Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot
Angels Sign Former Prospect with Braves Kevin Maitan
Angels Sign Former Prospect with Braves Kevin Maitan
Shohei Ohtani Has Turned Down Red Sox and Yankees
Shohei Ohtani Has Turned Down Red Sox and Yankees


Leave a Reply

 
© 2006-2017 BBNS.