Wildhorse Resource Development’s (NYSE:WRD) Buy Rating Reaffirmed at Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of Wildhorse Resource Development (NYSE:WRD) in a report released on Wednesday, November 22nd. They currently have a $23.00 price objective on the oil and natural gas company’s stock.

A number of other brokerages have also recently weighed in on WRD. Imperial Capital started coverage on shares of Wildhorse Resource Development in a research note on Tuesday, August 1st. They issued an outperform rating and a $22.00 price objective for the company. 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 Saturday, August 12th. Iberia Capital began coverage on shares of Wildhorse Resource Development in a research note on Wednesday, September 27th. They set an outperform rating and a $18.00 target price for the company. ValuEngine cut shares of Wildhorse Resource Development from a hold rating to a sell rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of Wildhorse Resource Development from a buy rating to a hold rating in a research note 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 stock. The stock has a consensus rating of Buy and a consensus target price of $20.42.

Shares of Wildhorse Resource Development (NYSE WRD) traded up $0.38 during trading on Wednesday, hitting $16.94. 517,553 shares of the stock were exchanged, compared to its average volume of 538,630. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.42 and a quick ratio of 0.42. Wildhorse Resource Development has a twelve month low of $10.36 and a twelve month high of $17.76. The firm has a market capitalization of $1,694.62 and a PE ratio of 119.64.

Wildhorse Resource Development (NYSE:WRD) last issued its quarterly earnings data on Wednesday, November 8th. The oil and natural gas company reported $0.16 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $122.50 million during the quarter, compared to analysts’ expectations of $117.89 million. Wildhorse Resource Development’s revenue was up 269.0% compared to the same quarter last year. equities research analysts anticipate that Wildhorse Resource Development will post 0.34 EPS for the current year.

A number of institutional investors have recently made changes to their positions in WRD. Bank of New York Mellon Corp bought a new stake in Wildhorse Resource Development in the 1st quarter valued at $845,000. TIAA CREF Investment Management LLC bought a new stake in Wildhorse Resource Development in the 1st quarter valued at $409,000. Vanguard Group Inc. bought a new stake in Wildhorse Resource Development in the 1st quarter valued at $18,245,000. Geode Capital Management LLC bought a new stake in Wildhorse Resource Development in the 1st quarter valued at $2,427,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in Wildhorse Resource Development in the 1st quarter valued at $649,000. 95.73% of the stock is currently owned by hedge funds and other institutional investors.

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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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