$148.77 Million in Sales Expected for Wildhorse Resource Development Corp (WRD) This Quarter

Equities research analysts forecast that Wildhorse Resource Development Corp (NYSE:WRD) will post $148.77 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Wildhorse Resource Development’s earnings, with estimates ranging from $139.50 million to $155.41 million. Wildhorse Resource Development reported sales of $39.26 million during the same quarter last year, which indicates a positive year-over-year growth rate of 278.9%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, March 7th.

According to Zacks, analysts expect that Wildhorse Resource Development will report full-year sales of $148.77 million for the current financial year, with estimates ranging from $386.45 million to $411.22 million. For the next financial year, analysts expect that the company will report sales of $741.88 million per share, with estimates ranging from $663.97 million to $838.66 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Wildhorse Resource Development.

Wildhorse Resource Development (NYSE:WRD) last announced its quarterly earnings data on Wednesday, November 8th. The oil and natural gas company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $122.50 million for 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%. The business’s revenue was up 269.0% compared to the same quarter last year.

A number of research analysts have weighed in on the company. Barclays raised their price objective on Wildhorse Resource Development from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Zacks Investment Research upgraded Wildhorse Resource Development from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. BMO Capital Markets set a $17.00 price objective on Wildhorse Resource Development and gave the company a “buy” rating in a report on Tuesday, October 10th. ValuEngine upgraded Wildhorse Resource Development from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $23.00 price objective on shares of Wildhorse Resource Development in a report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $20.33.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC purchased a new position in shares of Wildhorse Resource Development during the 2nd quarter worth $124,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Wildhorse Resource Development during the 3rd quarter worth $186,000. The Manufacturers Life Insurance Company purchased a new position in shares of Wildhorse Resource Development during the 2nd quarter worth $197,000. New York State Common Retirement Fund purchased a new position in shares of Wildhorse Resource Development during the 2nd quarter worth $212,000. Finally, Wells Fargo & Company MN raised its holdings in shares of 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 worth $216,000 after acquiring an additional 14,835 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Wildhorse Resource Development (NYSE:WRD) opened at $17.81 on Thursday. 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 firm has a market capitalization of $1,892.91 and a price-to-earnings ratio of 80.96. Wildhorse Resource Development has a fifty-two week low of $10.36 and a fifty-two week high of $21.43.

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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.

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