What’s Propelling WildHorse Resource Development Corporation (WRD) to Reach All-Time High?

April 16, 2018 - By Vivian Park

The stock of WildHorse Resource Development Corporation (NYSE:WRD) reached all time high today, Apr, 16 and still has $24.62 target or 7.00 % above today’s $23.01 share price. This indicates more upside for the $2.29 billion company. This technical setup was reported by Barchart.com. If the $24.62 PT is reached, the company will be worth $160.09 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 4.07% or $0.9 during the last trading session, reaching $23.01. About 715,095 shares traded or 9.39% up from the average. WildHorse Resource Development Corporation (NYSE:WRD) has risen 59.91% since April 16, 2017 and is uptrending. It has outperformed by 48.36% the S&P500.

Analysts await WildHorse Resource Development Corporation (NYSE:WRD) to report earnings on May, 10. WRD’s profit will be $30.81 million for 18.56 P/E if the $0.31 EPS becomes a reality. After $0.23 actual EPS reported by WildHorse Resource Development Corporation for the previous quarter, Wall Street now forecasts 34.78 % EPS growth.

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 has market cap of $2.29 billion. The firm primarily holds interests in the Eagle Ford Shale in Southeast Texas and the overpressured Cotton Valley formation in North Louisiana. It has a 71.91 P/E ratio. As of December 31, 2016, it had a total leasehold position of approximately 262,742 net acres in the Eagle Ford Shale and 108,456 net acres in overpressured Cotton Valley formation, as well as 152.5 million barrels of oil equivalent of total proved reserves.

WildHorse Resource Development Corporation (NYSE:WRD) Ratings Chart

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