$180.83 Million in Sales Expected for Wildhorse Resource Development Corp (WRD) This Quarter

Wall Street analysts expect Wildhorse Resource Development Corp (NYSE:WRD) to post sales of $180.83 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Wildhorse Resource Development’s earnings, with the lowest sales estimate coming in at $176.14 million and the highest estimate coming in at $185.30 million. Wildhorse Resource Development reported sales of $54.29 million during the same quarter last year, which indicates a positive year over year growth rate of 233.1%. The firm is scheduled to announce its next earnings results on Thursday, May 10th.

On average, analysts expect that Wildhorse Resource Development will report full year sales of $180.83 million for the current year, with estimates ranging from $756.60 million to $826.05 million. For the next fiscal year, analysts anticipate that the firm will report sales of $1.02 billion per share, with estimates ranging from $1.01 billion to $1.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Wildhorse Resource Development.

Wildhorse Resource Development (NYSE:WRD) last announced its earnings results on Wednesday, March 7th. The oil and natural gas company reported $0.23 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.23. Wildhorse Resource Development had a net margin of 11.68% and a return on equity of 4.31%. The business had revenue of $180.24 million for the quarter, compared to analyst estimates of $166.94 million. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Wildhorse Resource Development’s revenue was up 359.1% compared to the same quarter last year.

WRD has been the topic of a number of recent research reports. BMO Capital Markets downgraded shares of Wildhorse Resource Development from an “outperform” rating to a “market perform” rating and set a $20.00 price target on the stock. in a research note on Tuesday, March 13th. Citigroup decreased their price target on shares of Wildhorse Resource Development from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 13th. Piper Jaffray set a $31.00 price target on shares of Wildhorse Resource Development and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Bank of America lifted their price target on shares of Wildhorse Resource Development from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Zacks Investment Research downgraded shares of Wildhorse Resource Development from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $23.10.

Several large investors have recently modified their holdings of WRD. BlackRock Inc. boosted its stake in shares of Wildhorse Resource Development by 69.9% in the 4th quarter. BlackRock Inc. now owns 2,740,676 shares of the oil and natural gas company’s stock valued at $50,455,000 after purchasing an additional 1,127,889 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Wildhorse Resource Development in the 3rd quarter valued at $5,801,000. Nokomis Capital L.L.C. boosted its stake in shares of Wildhorse Resource Development by 135.5% in the 4th quarter. Nokomis Capital L.L.C. now owns 425,591 shares of the oil and natural gas company’s stock valued at $7,835,000 after purchasing an additional 244,855 shares in the last quarter. State Street Corp boosted its stake in shares of Wildhorse Resource Development by 97.5% in the 2nd quarter. State Street Corp now owns 356,656 shares of the oil and natural gas company’s stock valued at $4,411,000 after purchasing an additional 176,082 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Wildhorse Resource Development by 243.7% in the 2nd quarter. Northern Trust Corp now owns 233,593 shares of the oil and natural gas company’s stock valued at $2,890,000 after purchasing an additional 165,626 shares in the last quarter.

Shares of Wildhorse Resource Development (WRD) traded up $0.06 during mid-day trading on Friday, reaching $18.32. 46,482 shares of the company were exchanged, compared to its average volume of 645,100. Wildhorse Resource Development has a fifty-two week low of $10.36 and a fifty-two week high of $21.43. The company has a market capitalization of $1,847.39, a price-to-earnings ratio of 44.54, a P/E/G ratio of 0.28 and a beta of 0.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.29 and a quick ratio of 0.29.

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About Wildhorse Resource Development

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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