Research analysts at Johnson Rice started coverage on shares of Wildhorse Resource Development (NYSE:WRD) in a report released on Wednesday. The brokerage set a “buy” rating on the oil and natural gas company’s stock.
WRD has been the subject of a number of other reports. BMO Capital Markets downgraded Wildhorse Resource Development from an “outperform” rating to a “market perform” rating and set a $20.00 target price for the company. in a research report on Tuesday, March 13th. Citigroup cut their target price on Wildhorse Resource Development from $23.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, February 13th. Piper Jaffray Companies set a $31.00 target price on Wildhorse Resource Development and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Bank of America increased their price objective on Wildhorse Resource Development from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, Zacks Investment Research downgraded Wildhorse Resource Development from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Wildhorse Resource Development currently has a consensus rating of “Buy” and a consensus price target of $22.67.
Shares of WRD stock opened at $17.01 on Wednesday. The firm has a market capitalization of $1,704.73, a P/E ratio of 43.62, a price-to-earnings-growth ratio of 0.26 and a beta of 0.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.29 and a quick ratio of 0.29. Wildhorse Resource Development has a 52-week low of $10.36 and a 52-week high of $21.43.
Wildhorse Resource Development (NYSE:WRD) last released its earnings results on Wednesday, March 7th. The oil and natural gas company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $180.24 million during the quarter, compared to the consensus estimate of $166.94 million. Wildhorse Resource Development had a return on equity of 4.31% and a net margin of 11.68%. The firm’s revenue for the quarter was up 359.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) earnings per share. equities analysts predict that Wildhorse Resource Development will post 1.5 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in Wildhorse Resource Development during the 3rd quarter valued at $454,000. Janus Henderson Group PLC acquired a new stake in Wildhorse Resource Development during the 3rd quarter valued at $5,801,000. Northern Trust Corp raised its stake in Wildhorse Resource Development by 243.7% during the 2nd quarter. Northern Trust Corp now owns 233,593 shares of the oil and natural gas company’s stock valued at $2,890,000 after purchasing an additional 165,626 shares during the period. Cipher Capital LP raised its stake in Wildhorse Resource Development by 104.0% during the 3rd quarter. Cipher Capital LP now owns 132,546 shares of the oil and natural gas company’s stock valued at $1,765,000 after purchasing an additional 67,582 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Wildhorse Resource Development by 4.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 457,756 shares of the oil and natural gas company’s stock valued at $6,099,000 after purchasing an additional 18,811 shares during the period.
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Wildhorse Resource Development Company Profile
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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