Zacks Investment Research upgraded shares of Wildhorse Resource Development (NYSE:WRD) from a hold rating to a buy rating in a research note published on Friday, November 10th. The brokerage currently has $15.00 price objective on the oil and natural gas company’s stock.
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 equities research analysts have also weighed in on the stock. Imperial Capital reaffirmed an outperform rating on shares of Wildhorse Resource Development in a report on Friday, November 10th. Piper Jaffray Companies reaffirmed a buy rating and issued a $18.00 target price on shares of Wildhorse Resource Development in a research note on Sunday, October 22nd. BMO Capital Markets set a $17.00 target price on shares of Wildhorse Resource Development and gave the company a buy rating in a research note on Tuesday, October 10th. Iberia Capital initiated coverage on shares of Wildhorse Resource Development in a research report on Wednesday, September 27th. They issued an outperform rating and a $18.00 price target on the stock. Finally, Scotiabank set a $19.00 target price on shares of Wildhorse Resource Development and gave the stock a buy rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $20.42.
Wildhorse Resource Development (NYSE:WRD) last released its earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. Wildhorse Resource Development had a net margin of 8.88% and a return on equity of 1.24%. The firm had revenue of $122.50 million during the quarter, compared to analysts’ expectations of $117.89 million. The firm’s revenue was up 269.0% on a year-over-year basis. research analysts forecast that Wildhorse Resource Development will post 0.34 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in WRD. Voya Investment Management LLC bought a new position in Wildhorse Resource Development during the second quarter worth $124,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Wildhorse Resource Development during the third quarter worth $186,000. The Manufacturers Life Insurance Company acquired a new position in Wildhorse Resource Development in the second quarter valued at about $197,000. New York State Common Retirement Fund acquired a new position in Wildhorse Resource Development in the second quarter valued at about $212,000. Finally, Wells Fargo & Company MN raised its stake in 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 purchasing an additional 14,835 shares in the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.
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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.
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