Wildhorse Resource Development Corporation (NYSE:WRD) received a $19.00 price target from equities researchers at Scotiabank in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Scotiabank’s price objective would suggest a potential upside of 53.97% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Imperial Capital began coverage on shares of Wildhorse Resource Development Corporation in a report on Tuesday, August 1st. They issued an “outperform” rating and a $22.00 price target on the stock. Barclays PLC reaffirmed 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. Bank of America Corporation began coverage on shares of Wildhorse Resource Development Corporation in a research note on Wednesday, July 19th. They issued a “buy” rating and a $16.00 target price on the stock. Zacks Investment Research downgraded shares of Wildhorse Resource Development Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. Finally, Citigroup Inc. lowered their target price on shares of Wildhorse Resource Development Corporation from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Wildhorse Resource Development Corporation presently has an average rating of “Buy” and a consensus price target of $20.00.

Shares of Wildhorse Resource Development Corporation (WRD) traded up 3.606% during trading on Wednesday, hitting $12.785. 632,395 shares of the stock traded hands. The company has a market cap of $1.20 billion and a P/E ratio of 121.762. The stock has a 50-day moving average of $12.31 and a 200 day moving average of $12.41. Wildhorse Resource Development Corporation has a 1-year low of $10.36 and a 1-year high of $16.48.

Wildhorse Resource Development Corporation (NYSE:WRD) last announced its quarterly earnings results on Wednesday, August 9th. The oil and natural gas company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $70.20 million for the quarter, compared to analysts’ expectations of $68.03 million. The company’s quarterly revenue was up 136.4% compared to the same quarter last year. On average, equities research analysts predict that Wildhorse Resource Development Corporation will post $0.41 EPS for the current fiscal year.

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In other news, President Anthony Franklin Bahr bought 143,526 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were purchased at an average price of $12.67 per share, for a total transaction of $1,818,474.42. Following the completion of the acquisition, the president now owns 603,289 shares of the company’s stock, valued at $7,643,671.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jay Carlton Graham bought 52,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was purchased at an average price of $12.09 per share, for a total transaction of $628,680.00. Following the acquisition, the chief executive officer now directly owns 841,076 shares of the company’s stock, valued at approximately $10,168,608.84. The disclosure for this purchase can be found here. Insiders have acquired 322,217 shares of company stock worth $4,019,583 over the last three months. Insiders own 2.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of WRD. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Wildhorse Resource Development Corporation during the first quarter valued at about $156,000. Wells Fargo & Company MN boosted its position in shares of Wildhorse Resource Development Corporation by 559.2% in the second quarter. Wells Fargo & Company MN now owns 17,488 shares of the oil and natural gas company’s stock valued at $216,000 after buying an additional 14,835 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Wildhorse Resource Development Corporation by 264.4% in the first quarter. JPMorgan Chase & Co. now owns 18,218 shares of the oil and natural gas company’s stock valued at $227,000 after buying an additional 13,218 shares in the last quarter. Sei Investments Co. boosted its position in shares of Wildhorse Resource Development Corporation by 11.2% in the first quarter. Sei Investments Co. now owns 23,375 shares of the oil and natural gas company’s stock valued at $291,000 after buying an additional 2,358 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of Wildhorse Resource Development Corporation during the second quarter valued at about $317,000. Hedge funds and other institutional investors own 91.43% 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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