Wildhorse Resource Development Corp (NYSE:WRD)’s share price fell 9.7% during mid-day trading on Thursday . The company traded as low as $16.02 and last traded at $16.09. 1,231,104 shares were traded during mid-day trading, an increase of 89% from the average session volume of 651,198 shares. The stock had previously closed at $17.82.
A number of brokerages recently issued reports on WRD. Citigroup decreased their target price on Wildhorse Resource Development from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, February 13th. Zacks Investment Research cut Wildhorse Resource Development from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. Imperial Capital restated an “outperform” rating on shares of Wildhorse Resource Development in a report on Friday, November 10th. Piper Jaffray Companies set a $31.00 target price on Wildhorse Resource Development and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Bank of America lifted their target price on Wildhorse Resource Development from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Two investment 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 stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.78.
The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1,627.84, a price-to-earnings ratio of 39.24, a price-to-earnings-growth ratio of 0.29 and a beta of 0.39.
Hedge funds have recently modified their holdings of the company. Voya Investment Management LLC purchased a new position in shares of Wildhorse Resource Development during the second quarter valued at $124,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Wildhorse Resource Development during the third quarter valued at $186,000. The Manufacturers Life Insurance Company purchased a new position in shares of Wildhorse Resource Development during the second quarter valued at $197,000. New York State Common Retirement Fund acquired a new stake in Wildhorse Resource Development during the second quarter valued at $212,000. Finally, Paloma Partners Management Co acquired a new stake in Wildhorse Resource Development during the fourth quarter valued at $215,000.
Wildhorse Resource Development 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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