Wildhorse Resource Development Corporation (NYSE:WRD) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Wildhorse Resource Development Corporation (NYSE:WRD) released its earnings results on Wednesday. The oil and natural gas company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by $0.01, Briefing.com reports. The company had revenue of $70.20 million during the quarter, compared to analyst estimates of $68.03 million. The firm’s revenue was up 136.4% on a year-over-year basis.

Shares of Wildhorse Resource Development Corporation (WRD) traded down 0.64% on Wednesday, reaching $12.34. The company’s stock had a trading volume of 559,708 shares. The company’s 50 day moving average price is $12.43 and its 200 day moving average price is $12.47. The company has a market cap of $1.16 billion and a P/E ratio of 117.52. Wildhorse Resource Development Corporation has a 12-month low of $10.36 and a 12-month high of $16.48.

Several equities research analysts recently commented on the company. Imperial Capital assumed coverage on Wildhorse Resource Development Corporation in a research note on Tuesday, August 1st. They set an “outperform” rating and a $22.00 target price for the company. Barclays PLC reaffirmed an “overweight” rating and set a $19.00 target price on shares of Wildhorse Resource Development Corporation in a research note on Monday, July 24th. Bank of America Corporation assumed coverage on Wildhorse Resource Development Corporation in a research note on Wednesday, July 19th. They set a “buy” rating and a $16.00 target price for the company. Zacks Investment Research cut Wildhorse Resource Development Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. Finally, Citigroup Inc. decreased their target price on Wildhorse Resource Development Corporation from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Wildhorse Resource Development Corporation presently has a consensus rating of “Buy” and a consensus price target of $20.00.

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In other news, insider Steve Saad Habachy bought 80,691 shares of Wildhorse Resource Development Corporation stock in a transaction on Friday, May 19th. The shares were purchased at an average price of $12.40 per share, for a total transaction of $1,000,568.40. Following the acquisition, the insider now owns 69,191 shares of the company’s stock, valued at $857,968.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Anthony Franklin Bahr bought 143,526 shares of Wildhorse Resource Development Corporation stock in a transaction on 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 acquisition, the president now directly owns 603,289 shares in the company, valued at approximately $7,643,671.63. The disclosure for this purchase can be found here. Insiders have acquired a total of 322,217 shares of company stock worth $4,019,583 in the last quarter. Company insiders own 2.60% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. increased its position in 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 worth $291,000 after buying an additional 2,358 shares during the period. Nationwide Fund Advisors increased its stake in Wildhorse Resource Development Corporation by 17.5% in the first quarter. Nationwide Fund Advisors now owns 30,311 shares of the oil and natural gas company’s stock valued at $377,000 after buying an additional 4,511 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Wildhorse Resource Development Corporation during the first quarter valued at $156,000. JPMorgan Chase & Co. increased its stake in 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 during the last quarter. Finally, Rhumbline Advisers bought a new stake in Wildhorse Resource Development Corporation during the second quarter valued at $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.

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