State Street Corp lifted its position in shares of Wildhorse Resource Development Corp (NYSE:WRD) by 97.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,656 shares of the oil and natural gas company’s stock after acquiring an additional 176,082 shares during the quarter. State Street Corp owned approximately 0.35% of Wildhorse Resource Development worth $4,411,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC acquired a new position in Wildhorse Resource Development during the 1st quarter worth about $409,000. Vanguard Group Inc. acquired a new position in Wildhorse Resource Development during the 1st quarter worth about $18,245,000. Geode Capital Management LLC acquired a new position in Wildhorse Resource Development during the 1st quarter worth about $2,427,000. Schwab Charles Investment Management Inc. bought a new position in shares of Wildhorse Resource Development in the 1st quarter worth about $649,000. Finally, Bank of America Corp DE raised its position in shares of Wildhorse Resource Development by 42.4% in the 1st quarter. Bank of America Corp DE now owns 136,958 shares of the oil and natural gas company’s stock worth $1,704,000 after acquiring an additional 40,749 shares in the last quarter. 95.73% of the stock is currently owned by institutional investors.
Shares of Wildhorse Resource Development Corp (NYSE WRD) traded down $0.19 on Thursday, reaching $16.56. The company’s stock had a trading volume of 355,300 shares, compared to its average volume of 538,737. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $1,694.62 and a price-to-earnings ratio of 119.64. Wildhorse Resource Development Corp has a 1 year low of $10.36 and a 1 year high of $17.76.
WRD has been the subject of several research analyst reports. Piper Jaffray Companies reissued a “buy” rating and issued a $23.00 price objective on shares of Wildhorse Resource Development in a research report on Wednesday, November 22nd. BMO Capital Markets set a $17.00 price objective on Wildhorse Resource Development and gave the stock a “buy” rating in a research report on Saturday, August 12th. Iberia Capital initiated coverage on Wildhorse Resource Development in a research report on Wednesday, September 27th. They issued an “outperform” rating and a $18.00 price objective for the company. ValuEngine lowered Wildhorse Resource Development from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research lowered Wildhorse Resource Development from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.42.
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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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