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Wildhorse Resource Development Corp (WRD) Gets a Buy Rating from Piper Jaffray


In a report issued on August 10, Kashy Harrison from Piper Jaffray reiterated a Buy rating on Wildhorse Resource Development Corp (NYSE: WRD), with a price target of $41. The company’s shares closed on Friday at $19.71.

According to TipRanks.com, Harrison is a 3-star analyst with an average return of 3.5% and a 48.9% success rate. Harrison covers the Basic Materials sector, focusing on stocks such as Laredo Petroleum, Parsley Energy, and QEP Resources.

Wildhorse Resource Development Corp has an analyst consensus of Strong Buy, with a price target consensus of $33.57, a 70.3% upside from current levels. In a report issued on August 8, SunTrust Robinson also upgraded the stock to Buy.

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Based on Wildhorse Resource Development Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.09 million. In comparison, last year the company had a net profit of $25.98 million.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

WildHorse Resource Development Corp. engages in the acquisition, exploitation, development, and production of oil and natural gas. Its properties include Eagle Ford Shale and Austin Chalk in East Texas. The company was founded on August 4, 2016 and is headquartered in Houston, TX.