Wildhorse Resource Development (WRD) Sees Strong Trading Volume

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Wildhorse Resource Development Corp (NYSE:WRD) saw an uptick in trading volume on Tuesday . 12,283,100 shares were traded during trading, an increase of 925% from the previous session’s volume of 1,197,973 shares.The stock last traded at $19.60 and had previously closed at $18.42.

A number of brokerages recently issued reports on WRD. SunTrust Banks upgraded Wildhorse Resource Development from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Wednesday, August 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded Wildhorse Resource Development from a “hold” rating to a “strong sell” rating in a report on Thursday, September 27th. Finally, Piper Jaffray Companies set a $41.00 price target on Wildhorse Resource Development and gave the company a “buy” rating in a report on Saturday, August 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Wildhorse Resource Development currently has an average rating of “Buy” and a consensus target price of $27.00.

The firm has a market cap of $2.00 billion, a PE ratio of 45.58 and a beta of -1.10. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.92.

Wildhorse Resource Development (NYSE:WRD) last announced its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.11). Wildhorse Resource Development had a negative net margin of 16.95% and a positive return on equity of 11.39%. The business had revenue of $225.41 million for the quarter, compared to analysts’ expectations of $204.16 million. On average, analysts forecast that Wildhorse Resource Development Corp will post 1.8 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Wildhorse Resource Development by 290.5% during the 2nd quarter. FMR LLC now owns 2,329,124 shares of the oil and natural gas company’s stock worth $59,067,000 after acquiring an additional 1,732,750 shares during the period. Caymus Capital Partners L.P. grew its holdings in shares of Wildhorse Resource Development by 18.3% during the 2nd quarter. Caymus Capital Partners L.P. now owns 924,204 shares of the oil and natural gas company’s stock worth $23,438,000 after acquiring an additional 143,100 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Wildhorse Resource Development by 1,682.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 902,319 shares of the oil and natural gas company’s stock worth $22,882,000 after acquiring an additional 851,709 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of Wildhorse Resource Development during the 1st quarter worth approximately $12,672,000. Finally, Millennium Management LLC grew its holdings in shares of Wildhorse Resource Development by 76.3% during the 2nd quarter. Millennium Management LLC now owns 654,938 shares of the oil and natural gas company’s stock worth $16,609,000 after acquiring an additional 283,542 shares during the period. Hedge funds and other institutional investors own 95.87% of the company’s stock.

About Wildhorse Resource Development (NYSE:WRD)

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.

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