Wildhorse Resource Development Corporation (WRD) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Wildhorse Resource Development Corporation (NYSE:WRD) from a buy rating to a hold rating in a report released on Saturday morning.

According to Zacks, “WildHorse Resource Development Corporation is an oil and natural gas company. It focused on the acquisition, exploration, development and production of oil, natural gas and NGL. The company properties primarily consist of Eagle Ford Shale in East Texas and the Over-Pressured Cotton Valley in North Louisiana. WildHorse Resource Development Corporation is based in Houston, Texas. “

Several other analysts have also recently commented on WRD. Scotiabank set a $19.00 price objective on shares of Wildhorse Resource Development Corporation and gave the company a buy rating in a research note on Wednesday, August 9th. BMO Capital Markets set a $17.00 target price on shares of Wildhorse Resource Development Corporation and gave the company a buy rating in a research note on Saturday, August 12th. Imperial Capital reiterated an outperform rating on shares of Wildhorse Resource Development Corporation in a research note on Friday, November 10th. Piper Jaffray Companies reiterated a buy rating and issued a $18.00 target price on shares of Wildhorse Resource Development Corporation in a research note on Sunday, October 22nd. Finally, Barclays PLC reiterated an overweight rating and issued a $19.00 target price on shares of Wildhorse Resource Development Corporation in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Wildhorse Resource Development Corporation presently has an average rating of Buy and a consensus target price of $19.75.

Shares of Wildhorse Resource Development Corporation (WRD) opened at $14.82 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.42 and a current ratio of 0.42. Wildhorse Resource Development Corporation has a 12 month low of $10.36 and a 12 month high of $16.48. The company has a market cap of $1,615.70 and a P/E ratio of 114.07.

Wildhorse Resource Development Corporation (NYSE:WRD) last announced its quarterly earnings data on Wednesday, November 8th. The oil and natural gas company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. Wildhorse Resource Development Corporation 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. The firm’s revenue was up 269.0% on a year-over-year basis. equities research analysts predict that Wildhorse Resource Development Corporation will post 0.33 earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers purchased a new stake in Wildhorse Resource Development Corporation in the 2nd quarter worth $317,000. JPMorgan Chase & Co. grew its holdings in shares of Wildhorse Resource Development Corporation by 264.4% during the first quarter. JPMorgan Chase & Co. now owns 18,218 shares of the oil and natural gas company’s stock worth $227,000 after buying an additional 13,218 shares in the last quarter. B. Riley Financial Inc. purchased a new stake in shares of Wildhorse Resource Development Corporation during the second quarter worth $622,000. Tealwood Asset Management Inc. purchased a new stake in shares of Wildhorse Resource Development Corporation during the second quarter worth $2,393,000. Finally, UBS Group AG purchased a new stake in shares of Wildhorse Resource Development Corporation during the first quarter worth $797,000. 93.12% of the stock is owned by institutional investors.

About Wildhorse Resource Development Corporation

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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