Wildhorse Resource Development Corp (WRD) Expected to Announce Quarterly Sales of $118.43 Million

Equities analysts predict that Wildhorse Resource Development Corp (NYSE:WRD) will report $118.43 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Wildhorse Resource Development Corp’s earnings, with estimates ranging from $113.43 million to $121.90 million. The company is expected to issue its next earnings report on Wednesday, November 8th.

According to Zacks, analysts expect that Wildhorse Resource Development Corp will report full-year sales of $118.43 million for the current year, with estimates ranging from $389.63 million to $419.94 million. For the next financial year, analysts forecast that the company will report sales of $781.70 million per share, with estimates ranging from $703.18 million to $915.63 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Wildhorse Resource Development Corp.

Wildhorse Resource Development Corp (NYSE:WRD) last released its quarterly earnings results on Wednesday, August 9th. The oil and natural gas company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by $0.01. The business had revenue of $70.20 million during the quarter, compared to analyst estimates of $68.03 million. Wildhorse Resource Development Corp had a net margin of 37.57% and a return on equity of 9.40%. The company’s revenue was up 136.4% compared to the same quarter last year.

Several research firms have recently commented on WRD. Zacks Investment Research upgraded shares of Wildhorse Resource Development Corp from a “sell” rating to a “hold” rating in a research report on Saturday. ValuEngine lowered shares of Wildhorse Resource Development Corp from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. BMO Capital Markets set a $17.00 price target on shares of Wildhorse Resource Development Corp and gave the company a “buy” rating in a research report on Saturday, August 12th. Scotiabank set a $19.00 price target on shares of Wildhorse Resource Development Corp and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Imperial Capital began coverage on shares of Wildhorse Resource Development Corp in a research report on Tuesday, August 1st. They issued an “outperform” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Wildhorse Resource Development Corp presently has an average rating of “Buy” and an average price target of $20.22.

Wildhorse Resource Development Corp (NYSE:WRD) traded up 1.88% during mid-day trading on Friday, hitting $11.38. 382,204 shares of the stock traded hands. The firm has a market cap of $1.13 billion and a PE ratio of 31.61. The stock has a 50 day moving average price of $11.82 and a 200 day moving average price of $11.99. Wildhorse Resource Development Corp has a 12-month low of $10.36 and a 12-month high of $16.48.

ILLEGAL ACTIVITY NOTICE: This piece of content was first posted by Transcript Daily and is the property of of Transcript Daily. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of international trademark & copyright legislation. The legal version of this piece of content can be accessed at https://transcriptdaily.com/2017/09/12/wildhorse-resource-development-corp-wrd-expected-to-announce-quarterly-sales-of-118-43-million.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its position in Wildhorse Resource Development Corp by 136.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 29,597 shares of the oil and natural gas company’s stock worth $366,000 after acquiring an additional 17,088 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Wildhorse Resource Development Corp during the second quarter worth approximately $197,000. State Street Corp boosted its position in Wildhorse Resource Development Corp by 97.5% during the second quarter. State Street Corp now owns 356,656 shares of the oil and natural gas company’s stock worth $4,411,000 after acquiring an additional 176,082 shares during the last quarter. Voya Investment Management LLC acquired a new stake in Wildhorse Resource Development Corp during the second quarter worth approximately $124,000. Finally, B. Riley Financial Inc. acquired a new stake in Wildhorse Resource Development Corp during the second quarter worth approximately $622,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wildhorse Resource Development Corp 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.

Get a free copy of the Zacks research report on Wildhorse Resource Development Corp (WRD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Wildhorse Resource Development Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wildhorse Resource Development Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply