WPX Energy Inc. (WPX) Shares Gap Up After Analyst Upgrade
WPX Energy Inc. (NYSE:WPX)’s share price gapped up prior to trading on Tuesday after Robert W. Baird raised their price target on the stock from $14.00 to $15.00. The stock had previously closed at $13.57, but opened at $13.31. Robert W. Baird currently has an outperform rating on the stock. WPX Energy shares last traded at $12.82, with a volume of 6,209,181 shares changing hands.
A number of other brokerages have also issued reports on WPX. Susquehanna increased their target price on shares of WPX Energy from $15.00 to $18.00 and gave the company a “positive” rating in a research report on Friday, September 9th. BMO Capital Markets reissued a “hold” rating and issued a $13.00 price target on shares of WPX Energy in a report on Wednesday, September 7th. Wunderlich upped their price target on shares of WPX Energy from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, October 3rd. Citigroup Inc. upped their price target on shares of WPX Energy from $12.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, September 6th. Finally, FBR & Co initiated coverage on shares of WPX Energy in a report on Tuesday, October 11th. They issued an “outperform” rating and a $16.00 price target for the company. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.44.
A number of hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. purchased a new stake in shares of WPX Energy during the second quarter worth approximately $1,164,000. Meeder Asset Management Inc. purchased a new stake in shares of WPX Energy during the second quarter worth approximately $462,000. Parkwood LLC purchased a new stake in shares of WPX Energy during the second quarter worth approximately $1,206,000. Oakbrook Investments LLC raised its stake in shares of WPX Energy by 31.0% in the second quarter. Oakbrook Investments LLC now owns 25,381 shares of the company’s stock worth $236,000 after buying an additional 6,000 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of WPX Energy by 106.4% in the second quarter. LS Investment Advisors LLC now owns 16,714 shares of the company’s stock worth $156,000 after buying an additional 8,616 shares during the last quarter. Hedge funds and other institutional investors own 98.56% of the company’s stock.
The stock has a 50-day moving average price of $12.26 and a 200 day moving average price of $11.01. The company’s market cap is $4.52 billion.
WPX Energy (NYSE:WPX) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.01. WPX Energy had a negative return on equity of 7.94% and a negative net margin of 178.46%. The company had revenue of $251 million for the quarter, compared to analyst estimates of $257.60 million. During the same quarter last year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was down 38.3% on a year-over-year basis. On average, equities analysts expect that WPX Energy Inc. will post ($0.81) EPS for the current year.
WPX Energy Company Profile
WPX Energy, Inc is an independent oil and natural gas exploration and production company. The Company is engaged in the exploitation and development of long-life unconventional properties. It is engaged in the domestic development, production and gas management activities of oil, natural gas and natural gas liquids (NGLs) segment.
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