Raffles Associates LP reduced its stake in Wildhorse Resource Development Corporation (NYSE:WRD) by 33.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the oil and natural gas company’s stock after selling 5,000 shares during the period. Raffles Associates LP’s holdings in Wildhorse Resource Development Corporation were worth $124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its holdings in Wildhorse Resource Development Corporation by 136.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 29,597 shares of the oil and natural gas company’s stock valued at $366,000 after buying an additional 17,088 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Wildhorse Resource Development Corporation in the 2nd quarter valued at about $197,000. State Street Corp raised its holdings in Wildhorse Resource Development Corporation 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 buying an additional 176,082 shares during the period. Voya Investment Management LLC purchased a new stake in Wildhorse Resource Development Corporation in the 2nd quarter valued at about $124,000. Finally, B. Riley Financial Inc. purchased a new stake in Wildhorse Resource Development Corporation in the 2nd quarter valued at about $622,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Shares of Wildhorse Resource Development Corporation (NYSE WRD) traded down 0.86% during mid-day trading on Friday, reaching $12.67. 405,759 shares of the company’s stock were exchanged. The stock has a market cap of $1.26 billion and a price-to-earnings ratio of 35.19. The stock has a 50 day moving average price of $12.38 and a 200 day moving average price of $12.38. Wildhorse Resource Development Corporation has a 52 week low of $11.03 and a 52 week high of $16.48.

Wildhorse Resource Development Corporation (NYSE:WRD) last released its quarterly earnings data on Wednesday, August 9th. The oil and natural gas company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $70.20 million during the quarter, compared to the consensus estimate of $68.03 million. The company’s quarterly revenue was up 136.4% compared to the same quarter last year. Equities research analysts predict that Wildhorse Resource Development Corporation will post $0.32 EPS for the current year.

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Several brokerages recently issued reports on WRD. Imperial Capital began coverage on shares of Wildhorse Resource Development Corporation in a report on Tuesday, August 1st. They issued an “outperform” rating and a $22.00 price objective on the stock. BMO Capital Markets set a $17.00 price objective on shares of Wildhorse Resource Development Corporation and gave the company a “buy” rating in a report on Tuesday. Iberia Capital began coverage on shares of Wildhorse Resource Development Corporation in a report on Wednesday, September 27th. They issued an “outperform” rating and a $18.00 price objective on the stock. Zacks Investment Research upgraded shares of Wildhorse Resource Development Corporation from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Scotiabank set a $19.00 price objective on shares of Wildhorse Resource Development Corporation and gave the company a “buy” rating in a report on Saturday, July 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $20.00.

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.

Institutional Ownership by Quarter for Wildhorse Resource Development Corporation (NYSE:WRD)

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