Wall Street brokerages forecast that Wildhorse Resource Development Corp (NYSE:WRD) will post earnings per share of $0.51 for the current quarter, Zacks reports. Six analysts have issued estimates for Wildhorse Resource Development’s earnings, with estimates ranging from $0.43 to $0.62. Wildhorse Resource Development posted earnings of $0.12 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 325%. The firm is expected to report its next quarterly earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that Wildhorse Resource Development will report full year earnings of $1.92 per share for the current fiscal year, with EPS estimates ranging from $1.62 to $2.12. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.47 per share, with EPS estimates ranging from $2.06 to $2.80. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Wildhorse Resource Development.
Wildhorse Resource Development (NYSE:WRD) last issued its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.11). The firm had revenue of $225.41 million during the quarter, compared to analyst estimates of $204.16 million. Wildhorse Resource Development had a positive return on equity of 11.18% and a negative net margin of 16.95%.
A number of research firms recently issued reports on WRD. Zacks Investment Research upgraded Wildhorse Resource Development from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Friday, July 27th. Seaport Global Securities began coverage on Wildhorse Resource Development in a research report on Wednesday, June 20th. They set a “buy” rating and a $37.00 price objective for the company. Finally, SunTrust Banks upgraded Wildhorse Resource Development from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $25.27.
Shares of Wildhorse Resource Development traded up $0.24, hitting $19.71, during mid-day trading on Tuesday, according to MarketBeat. The stock had a trading volume of 1,570,629 shares, compared to its average volume of 1,524,059. Wildhorse Resource Development has a fifty-two week low of $10.36 and a fifty-two week high of $29.67. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 45.84 and a beta of -1.00. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.77.
In other Wildhorse Resource Development news, insider Terence W. Lynch sold 10,800 shares of Wildhorse Resource Development stock in a transaction on Friday, June 1st. The stock was sold at an average price of $27.39, for a total transaction of $295,812.00. Following the sale, the insider now owns 105,404 shares of the company’s stock, valued at approximately $2,887,015.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steve Saad Habachy sold 20,000 shares of Wildhorse Resource Development stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $27.30, for a total value of $546,000.00. Following the sale, the insider now directly owns 301,481 shares in the company, valued at approximately $8,230,431.30. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers raised its stake in Wildhorse Resource Development by 7.4% during the 1st quarter. Rhumbline Advisers now owns 48,647 shares of the oil and natural gas company’s stock valued at $929,000 after acquiring an additional 3,340 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Wildhorse Resource Development by 2.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 151,822 shares of the oil and natural gas company’s stock valued at $2,899,000 after acquiring an additional 3,671 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Wildhorse Resource Development by 36.6% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 16,198 shares of the oil and natural gas company’s stock valued at $309,000 after acquiring an additional 4,336 shares in the last quarter. NumerixS Investment Technologies Inc raised its stake in Wildhorse Resource Development by 71.3% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 11,306 shares of the oil and natural gas company’s stock valued at $281,000 after acquiring an additional 4,706 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Wildhorse Resource Development by 1.3% during the 1st quarter. Northern Trust Corp now owns 475,121 shares of the oil and natural gas company’s stock valued at $9,070,000 after acquiring an additional 5,975 shares in the last quarter.
About Wildhorse Resource Development
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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