Wildhorse Resource Development Corporation (WRD) Given a $17.00 Price Target at BMO Capital Markets

BMO Capital Markets set a $17.00 target price on Wildhorse Resource Development Corporation (NYSE:WRD) in a research report released on Tuesday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Several other equities analysts have also commented on WRD. Scotiabank set a $19.00 target price on shares of Wildhorse Resource Development Corporation and gave the company a buy rating in a report on Wednesday, August 9th. Citigroup Inc. decreased their price target on shares of Wildhorse Resource Development Corporation from $16.00 to $15.00 and set a neutral rating on the stock in a report on Thursday, July 13th. Zacks Investment Research raised shares of Wildhorse Resource Development Corporation from a sell rating to a hold rating in a report on Friday, August 25th. Imperial Capital began coverage on shares of Wildhorse Resource Development Corporation in a report on Tuesday, August 1st. They set an outperform rating and a $22.00 price target on the stock. Finally, Barclays PLC reaffirmed an overweight rating and set a $19.00 price target on shares of Wildhorse Resource Development Corporation in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $20.00.

Shares of Wildhorse Resource Development Corporation (WRD) opened at 12.75 on Tuesday. The company has a market capitalization of $1.26 billion and a PE ratio of 35.42. The firm’s 50-day moving average is $12.34 and its 200 day moving average is $12.34. Wildhorse Resource Development Corporation has a 52 week low of $11.03 and a 52 week high of $16.48.

Wildhorse Resource Development Corporation (NYSE:WRD) last released its earnings results on Wednesday, August 9th. The oil and natural gas company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $70.20 million for the quarter, compared to analysts’ expectations of $68.03 million. The business’s revenue for the quarter was up 136.4% compared to the same quarter last year. On average, analysts anticipate that Wildhorse Resource Development Corporation will post $0.30 earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC bought a new stake in shares of Wildhorse Resource Development Corporation during the 2nd quarter valued at approximately $124,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Wildhorse Resource Development Corporation during the 1st quarter worth approximately $156,000. The Manufacturers Life Insurance Company acquired a new stake in Wildhorse Resource Development Corporation during the 2nd quarter worth approximately $197,000. New York State Common Retirement Fund acquired a new stake in Wildhorse Resource Development Corporation during the 2nd quarter worth approximately $212,000. Finally, Wells Fargo & Company MN boosted its position in Wildhorse Resource Development Corporation 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 buying an additional 14,835 shares during the period. 93.95% of the stock is currently owned by institutional investors.

Wildhorse Resource Development Corporation 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.

Analyst Recommendations for Wildhorse Resource Development Corporation (NYSE:WRD)

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