Citigroup Cuts Wildhorse Resource Development (WRD) Price Target to $19.00

Wildhorse Resource Development (NYSE:WRD) had its price target reduced by Citigroup from $23.00 to $19.00 in a research report issued on Tuesday. The brokerage currently has a “neutral” rating on the oil and natural gas company’s stock. Citigroup’s target price points to a potential upside of 11.96% from the company’s previous close.

A number of other analysts also recently commented on WRD. Piper Jaffray Companies reiterated a “buy” rating and issued a $18.00 price objective on shares of Wildhorse Resource Development in a research report on Sunday, October 22nd. Zacks Investment Research upgraded Wildhorse Resource Development from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, October 24th. Imperial Capital reiterated an “outperform” rating on shares of Wildhorse Resource Development in a research report on Friday, November 10th. BMO Capital Markets set a $21.00 price objective on Wildhorse Resource Development and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Finally, Barclays raised their price objective on Wildhorse Resource Development from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Wildhorse Resource Development currently has a consensus rating of “Buy” and a consensus price target of $22.78.

Shares of Wildhorse Resource Development (WRD) opened at $16.97 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.57. Wildhorse Resource Development has a 52-week low of $10.36 and a 52-week high of $21.43. The company has a market capitalization of $1,674.38, a P/E ratio of 77.14, a price-to-earnings-growth ratio of 0.32 and a beta of -0.48.

Institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in shares of Wildhorse Resource Development during the 3rd quarter worth approximately $454,000. Janus Henderson Group PLC bought a new position in shares of Wildhorse Resource Development during the 3rd quarter worth approximately $5,801,000. TIAA CREF Investment Management LLC lifted its position in shares of Wildhorse Resource Development by 62.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 53,375 shares of the oil and natural gas company’s stock worth $660,000 after buying an additional 20,471 shares during the period. Vanguard Group Inc. lifted its position in shares of Wildhorse Resource Development by 13.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,670,558 shares of the oil and natural gas company’s stock worth $20,665,000 after buying an additional 203,933 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Wildhorse Resource Development by 70.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 88,619 shares of the oil and natural gas company’s stock worth $1,097,000 after buying an additional 36,489 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

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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.

Analyst Recommendations for Wildhorse Resource Development (NYSE:WRD)

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