WPX Energy Inc. (WPX) Bond Prices Rise 1.3%
An issue of WPX Energy Inc. (NYSE:WPX) debt rose 1.3% as a percentage of its face value during trading on Monday. The high-yield debt issue has a 6% coupon and will mature on January 15, 2022. The debt is now trading at $101.54 and was trading at $99.50 last week. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
A number of research analysts have recently issued reports on WPX shares. BMO Capital Markets reiterated a “hold” rating and issued a $13.00 target price on shares of WPX Energy in a research note on Wednesday, September 7th. Robert W. Baird boosted their price objective on shares of WPX Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 22nd. Barclays PLC boosted their price objective on shares of WPX Energy from $6.00 to $7.50 and gave the stock an “underweight” rating in a research report on Monday, August 8th. Deutsche Bank AG upgraded shares of WPX Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $15.00 to $17.00 in a research report on Monday. Finally, Zacks Investment Research cut shares of WPX Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $12.67.
Shares of WPX Energy Inc. (NYSE:WPX) traded down 3.99% during trading on Monday, reaching $12.75. 10,573,420 shares of the company were exchanged. The firm’s market cap is $4.39 billion. The stock’s 50-day moving average is $12.23 and its 200-day moving average is $11.09. WPX Energy Inc. has a 52-week low of $2.53 and a 52-week high of $13.92.
WPX Energy (NYSE:WPX) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. The company earned $251 million during the quarter, compared to analysts’ expectations of $257.60 million. WPX Energy had a negative net margin of 178.46% and a negative return on equity of 7.94%. WPX Energy’s revenue for the quarter was down 38.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. Equities research analysts predict that WPX Energy Inc. will post ($0.81) earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of WPX Energy by 102.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,892,472 shares of the company’s stock valued at $64,532,000 after buying an additional 2,470,323 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in WPX Energy by 74.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 300,403 shares of the company’s stock worth $3,961,000 after buying an additional 128,297 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in WPX Energy by 135.7% in the third quarter. Ameritas Investment Partners Inc. now owns 104,112 shares of the company’s stock worth $1,373,000 after buying an additional 59,933 shares in the last quarter. Penn Capital Management Co. Inc. boosted its position in WPX Energy by 3.7% in the third quarter. Penn Capital Management Co. Inc. now owns 1,242,081 shares of the company’s stock worth $16,446,000 after buying an additional 44,651 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new position in WPX Energy during the third quarter worth approximately $1,451,000. 95.44% of the stock is owned by institutional investors.
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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