Piper Jaffray Companies reaffirmed their buy rating on shares of Wildhorse Resource Development (NYSE:WRD) in a research note issued to investors on Wednesday, November 22nd. Piper Jaffray Companies currently has a $23.00 price objective on the oil and natural gas company’s stock.
Other equities research analysts have also issued research reports about the company. BMO Capital Markets set a $17.00 price objective on Wildhorse Resource Development and gave the company a buy rating in a research note on Saturday, August 12th. Zacks Investment Research raised Wildhorse Resource Development from a sell rating to a hold rating in a research note on Thursday, October 12th. Barclays lifted their price target on Wildhorse Resource Development from $19.00 to $21.00 and gave the stock an overweight rating in a research note on Monday, November 20th. Imperial Capital initiated coverage on Wildhorse Resource Development in a research note on Tuesday, August 1st. They set an outperform rating and a $22.00 price target for the company. Finally, Scotiabank set a $19.00 price target on Wildhorse Resource Development 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 issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $20.42.
Wildhorse Resource Development (NYSE:WRD) traded up $0.62 during trading hours on Wednesday, reaching $17.12. The company’s stock had a trading volume of 472,032 shares, compared to its average volume of 523,868. Wildhorse Resource Development has a twelve month low of $10.36 and a twelve month high of $17.25. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1,669.32 and a P/E ratio of 117.86.
Wildhorse Resource Development (NYSE:WRD) last posted its quarterly earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. The firm had revenue of $122.50 million during the quarter, compared to analyst estimates of $117.89 million. Wildhorse Resource Development had a return on equity of 1.24% and a net margin of 8.88%. Wildhorse Resource Development’s revenue was up 269.0% compared to the same quarter last year. analysts forecast that Wildhorse Resource Development will post 0.34 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in WRD. Voya Investment Management LLC purchased a new position in Wildhorse Resource Development during the 2nd quarter valued at about $124,000. Dynamic Technology Lab Private Ltd purchased a new position in Wildhorse Resource Development during the 3rd quarter valued at about $186,000. The Manufacturers Life Insurance Company purchased a new position in Wildhorse Resource Development during the 2nd quarter valued at about $197,000. New York State Common Retirement Fund purchased a new position in Wildhorse Resource Development during the 2nd quarter valued at about $212,000. Finally, Wells Fargo & Company MN increased its holdings in Wildhorse Resource Development by 559.2% during the 2nd 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 during the period. Hedge funds and other institutional investors own 95.70% of the company’s stock.
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.