Shares of Wildhorse Resource Development Corp (NYSE:WRD) have been assigned an average recommendation of “Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $27.22.
A number of brokerages recently issued reports on WRD. Zacks Investment Research downgraded Wildhorse Resource Development from a “buy” rating to a “hold” rating in a research report on Thursday. ValuEngine downgraded Wildhorse Resource Development from a “hold” rating to a “sell” rating in a research report on Thursday. Raymond James raised Wildhorse Resource Development from a “market perform” rating to an “outperform” rating in a research report on Thursday. SunTrust Banks assumed coverage on Wildhorse Resource Development in a research report on Thursday, July 19th. They issued a “hold” rating and a $26.00 target price for the company. Finally, Piper Jaffray Companies set a $41.00 target price on Wildhorse Resource Development and gave the company a “buy” rating in a research report on Saturday, August 11th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its position in Wildhorse Resource Development by 333.5% in the 3rd quarter. American Century Companies Inc. now owns 519,592 shares of the oil and natural gas company’s stock valued at $12,283,000 after acquiring an additional 399,720 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new position in Wildhorse Resource Development in the 3rd quarter valued at about $3,906,000. US Bancorp DE grew its position in Wildhorse Resource Development by 1,165.1% in the 3rd quarter. US Bancorp DE now owns 17,737 shares of the oil and natural gas company’s stock valued at $420,000 after acquiring an additional 16,335 shares in the last quarter. Perella Weinberg Partners Capital Management LP grew its position in Wildhorse Resource Development by 65.6% in the 3rd quarter. Perella Weinberg Partners Capital Management LP now owns 58,114 shares of the oil and natural gas company’s stock valued at $1,374,000 after acquiring an additional 23,021 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in Wildhorse Resource Development in the 3rd quarter valued at about $14,129,000. 95.87% of the stock is owned by institutional investors.
Wildhorse Resource Development (NYSE:WRD) last issued its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.11). The business had revenue of $225.41 million for the quarter, compared to analyst estimates of $204.16 million. Wildhorse Resource Development had a positive return on equity of 11.39% and a negative net margin of 16.95%. On average, sell-side analysts forecast that Wildhorse Resource Development will post 1.86 EPS for the current year.
Wildhorse Resource Development Company Profile
WildHorse Resource Development Corporation, an independent oil and natural gas company, focuses on the acquisition, exploitation, development, and production of oil, natural gas, and natural gas liquid resources. The company primarily holds interests in the Eagle Ford Shale in East Texas and the overpressured Cotton Valley formation in North Louisiana.
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