Wildhorse Resource Development (WRD) Issues Earnings Results, Misses Expectations By $0.11 EPS
Wildhorse Resource Development (NYSE:WRD) announced its quarterly earnings data on Tuesday. The oil and natural gas company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.11), Fidelity Earnings reports. The firm had revenue of $225.41 million during the quarter, compared to the consensus estimate of $204.16 million. Wildhorse Resource Development had a negative net margin of 14.56% and a positive return on equity of 8.35%.
Wildhorse Resource Development traded down $3.09, reaching $20.08, during mid-day trading on Wednesday, Marketbeat reports. 42,645 shares of the company traded hands, compared to its average volume of 1,235,515. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $2.32 billion, a PE ratio of 50.68 and a beta of -1.00. Wildhorse Resource Development has a 52-week low of $10.36 and a 52-week high of $29.67.
A number of research firms have weighed in on WRD. Seaport Global Securities began coverage on Wildhorse Resource Development in a report on Wednesday, June 20th. They set a “buy” rating and a $37.00 target price for the company. Zacks Investment Research raised Wildhorse Resource Development from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a report on Saturday, April 28th. Finally, SunTrust Banks began coverage on Wildhorse Resource Development in a report on Thursday, July 19th. They set a “hold” rating and a $26.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $24.75.
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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