WPX Energy Inc. (WPX) Lifted to Buy at Deutsche Bank AG
WPX Energy Inc. (NYSE:WPX) was upgraded by analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.
WPX has been the topic of a number of other research reports. BMO Capital Markets reissued a “hold” rating and set a $13.00 price objective on shares of WPX Energy in a report on Wednesday, September 7th. Evercore ISI raised shares of WPX Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $14.00 to $16.00 in a report on Friday, October 14th. Citigroup Inc. upped their price target on shares of WPX Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, September 12th. 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. Finally, Robert W. Baird upped their price target on shares of WPX Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, November 22nd. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $12.44.
Shares of WPX Energy (NYSE:WPX) opened at 13.28 on Monday. WPX Energy has a 12-month low of $2.53 and a 12-month high of $13.92. The company has a 50-day moving average of $12.23 and a 200 day moving average of $11.09. The firm’s market cap is $4.57 billion.
WPX Energy (NYSE:WPX) last released its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $251 million for the quarter, compared to the consensus estimate of $257.60 million. WPX Energy had a negative net margin of 178.46% and a negative return on equity of 7.94%. The firm’s revenue was down 38.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Equities research analysts anticipate that WPX Energy will post ($0.81) earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in WPX. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of WPX Energy by 15.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,590 shares of the company’s stock valued at $126,000 after buying an additional 1,298 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of WPX Energy during the second quarter valued at $100,000. Veritable L.P. increased its position in shares of WPX Energy by 1.6% in the second quarter. Veritable L.P. now owns 10,755 shares of the company’s stock valued at $100,000 after buying an additional 168 shares during the period. Cypress Capital Management LLC WY purchased a new position in shares of WPX Energy during the second quarter valued at $104,000. Finally, Raymond James & Associates increased its position in shares of WPX Energy by 22.9% in the second quarter. Raymond James & Associates now owns 12,440 shares of the company’s stock valued at $116,000 after buying an additional 2,320 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.
About WPX Energy
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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