Wildhorse Resource Development Corporation (NYSE:WRD) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Wildhorse Resource Development Corporation (NYSE:WRD) from a buy rating to a hold rating in a research note released on Saturday, November 4th.

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. “

Several other research analysts have also recently issued reports on WRD. Piper Jaffray Companies restated a buy rating and issued a $18.00 price objective on shares of Wildhorse Resource Development Corporation in a research note on Sunday, October 22nd. BMO Capital Markets set a $17.00 price objective on Wildhorse Resource Development Corporation and gave the stock a buy rating in a research note on Tuesday, October 10th. Iberia Capital started coverage on Wildhorse Resource Development Corporation in a research note on Wednesday, September 27th. They issued an outperform rating and a $18.00 price objective for the company. ValuEngine cut Wildhorse Resource Development Corporation from a hold rating to a sell rating in a research note on Friday, September 1st. Finally, Scotiabank set a $19.00 price objective on Wildhorse Resource Development Corporation and gave the stock a buy rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $20.42.

Wildhorse Resource Development Corporation (WRD) traded up $0.20 during trading on Friday, reaching $16.40. The company’s stock had a trading volume of 364,100 shares, compared to its average volume of 542,522. 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 Corporation has a 52 week low of $10.36 and a 52 week high of $16.77. The stock has a market capitalization of $1,680.00 and a PE ratio of 115.71.

Wildhorse Resource Development Corporation (NYSE:WRD) last released its quarterly 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 company had revenue of $122.50 million during the quarter, compared to analysts’ expectations of $117.89 million. The firm’s revenue for the quarter was up 269.0% on a year-over-year basis. equities research analysts predict that Wildhorse Resource Development Corporation will post 0.34 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in Wildhorse Resource Development Corporation in the third quarter valued at approximately $454,000. Janus Henderson Group PLC acquired a new stake in Wildhorse Resource Development Corporation in the third quarter valued at approximately $5,801,000. Castleton Investment Management LLC acquired a new stake in Wildhorse Resource Development Corporation in the third quarter valued at approximately $799,000. Wells Fargo & Company MN grew its holdings in Wildhorse Resource Development Corporation by 40.7% in the third quarter. Wells Fargo & Company MN now owns 24,598 shares of the oil and natural gas company’s stock valued at $328,000 after purchasing an additional 7,110 shares during the period. Finally, Citadel Advisors LLC grew its holdings in Wildhorse Resource Development Corporation by 22.2% in the third quarter. Citadel Advisors LLC now owns 471,671 shares of the oil and natural gas company’s stock valued at $6,283,000 after purchasing an additional 85,777 shares during the period. 92.69% of the stock is currently owned by institutional investors.

About Wildhorse Resource Development Corporation

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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