Raymond James Financial Services Advisors Inc. raised its holdings in shares of Wildhorse Resource Development Corp (NYSE:WRD) by 20.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,547 shares of the oil and natural gas company’s stock after purchasing an additional 5,950 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Wildhorse Resource Development were worth $473,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Voya Investment Management LLC bought a new stake in shares of Wildhorse Resource Development during the second quarter valued at approximately $124,000. The Manufacturers Life Insurance Company bought a new stake in shares of Wildhorse Resource Development during the second quarter valued at approximately $197,000. New York State Common Retirement Fund bought a new stake in shares of Wildhorse Resource Development during the second quarter valued at approximately $212,000. Wells Fargo & Company MN increased its position in shares of Wildhorse Resource Development by 559.2% during the second quarter. Wells Fargo & Company MN now owns 17,488 shares of the oil and natural gas company’s stock valued at $216,000 after acquiring an additional 14,835 shares in the last quarter. Finally, Parametric Portfolio Associates LLC bought a new stake in Wildhorse Resource Development in the 2nd quarter worth approximately $228,000. 95.73% of the stock is owned by institutional investors and hedge funds.
Wildhorse Resource Development Corp (NYSE:WRD) traded down $0.19 on Thursday, hitting $16.56. 355,300 shares of the company were exchanged, compared to its average volume of 538,737. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.42 and a current ratio of 0.42. Wildhorse Resource Development Corp has a 52 week low of $10.36 and a 52 week high of $17.76. The stock has a market cap of $1,694.62 and a PE ratio of 119.64.
A number of research firms have commented on WRD. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $23.00 target price on shares of Wildhorse Resource Development in a research report on Wednesday, November 22nd. Barclays lifted their target price on shares of Wildhorse Resource Development from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Zacks Investment Research raised shares of Wildhorse Resource Development from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Saturday, November 18th. BMO Capital Markets set a $21.00 target price on shares of Wildhorse Resource Development and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Finally, Imperial Capital reiterated an “outperform” rating on shares of Wildhorse Resource Development in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.42.
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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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