Shares of Wildhorse Resource Development Corporation (NYSE:WRD) have earned an average recommendation of “Buy” from the twelve analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $20.57.

WRD has been the topic of several recent research reports. Scotiabank set a $19.00 price objective on shares of Wildhorse Resource Development Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets reiterated a “buy” rating and issued a $15.00 price objective on shares of Wildhorse Resource Development Corporation in a research report on Tuesday, June 27th. Citigroup Inc. cut their price objective on shares of Wildhorse Resource Development Corporation from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Zacks Investment Research downgraded shares of Wildhorse Resource Development Corporation from a “hold” rating to a “sell” rating in a research report on Saturday.

Shares of Wildhorse Resource Development Corporation (NYSE:WRD) traded up 0.97% during midday trading on Monday, hitting $12.53. 51,849 shares of the stock were exchanged. The company has a market cap of $1.27 billion and a PE ratio of 119.33. The firm has a 50-day moving average price of $12.47 and a 200-day moving average price of $12.79. Wildhorse Resource Development Corporation has a 12-month low of $10.36 and a 12-month high of $16.48.

Wildhorse Resource Development Corporation (NYSE:WRD) last posted its quarterly earnings results on Thursday, May 11th. The oil and natural gas company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.05. The firm had revenue of $54.29 million for the quarter, compared to the consensus estimate of $54.45 million. The business’s quarterly revenue was up 116.0% compared to the same quarter last year. On average, equities analysts predict that Wildhorse Resource Development Corporation will post $0.60 EPS for the current year.

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In related news, CEO Jay Carlton Graham purchased 40,000 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were bought at an average cost of $12.42 per share, for a total transaction of $496,800.00. Following the transaction, the chief executive officer now owns 540,000 shares of the company’s stock, valued at $6,706,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan M. Clarkson purchased 6,000 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were bought at an average price of $12.51 per share, for a total transaction of $75,060.00. Following the completion of the transaction, the director now directly owns 16,000 shares in the company, valued at approximately $200,160. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 322,217 shares of company stock worth $4,019,583. 2.60% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in Wildhorse Resource Development Corporation by 37.3% in the first quarter. Goldman Sachs Group Inc. now owns 199,829 shares of the oil and natural gas company’s stock worth $2,486,000 after buying an additional 54,326 shares during the period. Ranger Investment Management L.P. bought a new stake in Wildhorse Resource Development Corporation during the first quarter worth approximately $20,619,000. Bank of America Corp DE increased its stake in Wildhorse Resource Development Corporation by 42.4% in the first quarter. Bank of America Corp DE now owns 136,958 shares of the oil and natural gas company’s stock worth $1,704,000 after buying an additional 40,749 shares during the period. Omega Advisors Inc. increased its stake in Wildhorse Resource Development Corporation by 11.1% in the first quarter. Omega Advisors Inc. now owns 500,000 shares of the oil and natural gas company’s stock worth $6,220,000 after buying an additional 50,000 shares during the period. Finally, Schwab Charles Investment Management Inc. bought a new stake in Wildhorse Resource Development Corporation during the first quarter worth approximately $649,000. Institutional investors own 98.24% of the company’s stock.

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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