Piper Jaffray Companies Weighs in on WildHorse Resource Development Co.’s FY2018 Earnings (WRD)

WildHorse Resource Development Co. (NYSE:WRD) – Equities researchers at Piper Jaffray Companies upped their FY2018 earnings estimates for shares of WildHorse Resource Development in a research report issued to clients and investors on Sunday, May 20th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and natural gas company will post earnings per share of $2.12 for the year, up from their prior forecast of $1.72. Piper Jaffray Companies has a “Buy” rating and a $31.00 price target on the stock. Piper Jaffray Companies also issued estimates for WildHorse Resource Development’s Q4 2018 earnings at $0.63 EPS, Q4 2019 earnings at $0.80 EPS and FY2019 earnings at $2.80 EPS.

WildHorse Resource Development (NYSE:WRD) last released its quarterly earnings data on Wednesday, May 9th. The oil and natural gas company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.11. The company had revenue of $218.80 million during the quarter, compared to analyst estimates of $183.24 million. WildHorse Resource Development had a negative net margin of 14.56% and a positive return on equity of 8.35%. WildHorse Resource Development’s revenue for the quarter was up 303.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS.

WRD has been the subject of several other research reports. BMO Capital Markets lowered shares of WildHorse Resource Development from an “outperform” rating to a “market perform” rating and set a $20.00 price objective for the company. in a research note on Tuesday, March 13th. Citigroup lowered their price objective on shares of WildHorse Resource Development from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, February 13th. Zacks Investment Research raised shares of WildHorse Resource Development from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research report on Saturday, April 28th. Johnson Rice started coverage on shares of WildHorse Resource Development in a research report on Wednesday, March 21st. They issued a “buy” rating and a $27.00 price target for the company. Finally, Bank of America lifted their price target on shares of WildHorse Resource Development from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. WildHorse Resource Development has a consensus rating of “Buy” and an average target price of $23.80.

NYSE:WRD opened at $26.24 on Wednesday. The firm has a market capitalization of $2.73 billion, a PE ratio of 61.02, a P/E/G ratio of 0.32 and a beta of -0.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.38 and a quick ratio of 0.38. WildHorse Resource Development has a twelve month low of $10.36 and a twelve month high of $29.67.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd purchased a new position in WildHorse Resource Development during the 1st quarter worth $566,000. Legal & General Group Plc boosted its holdings in WildHorse Resource Development by 53.7% during the 1st quarter. Legal & General Group Plc now owns 18,599 shares of the oil and natural gas company’s stock worth $355,000 after acquiring an additional 6,496 shares during the last quarter. Millennium Management LLC purchased a new position in WildHorse Resource Development during the 1st quarter worth $7,090,000. Point72 Asia Hong Kong Ltd purchased a new position in WildHorse Resource Development during the 1st quarter worth $184,000. Finally, Point72 Asset Management L.P. purchased a new position in WildHorse Resource Development during the 1st quarter worth $6,502,000.

WildHorse Resource Development Company Profile

WildHorse Resource Development Corporation, an independent oil and natural gas company, focuses on the acquisition, exploitation, development, and production of oil, natural gas, and natural gas liquid resources. The company primarily holds interests in the Eagle Ford Shale in East Texas and the overpressured Cotton Valley formation in North Louisiana.

Earnings History and Estimates for WildHorse Resource Development (NYSE:WRD)

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