WPX Energy’s (WPX) Buy Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reiterated their buy rating on shares of WPX Energy, Inc. (NYSE:WPX) in a research note issued to investors on Monday. BMO Capital Markets currently has a $16.00 price target on the oil and gas producer’s stock.
A number of other research analysts have also recently commented on the company. SunTrust Banks, Inc. set a $14.00 target price on WPX Energy and gave the company a buy rating in a research note on Wednesday, November 1st. Stifel Nicolaus set a $19.00 target price on WPX Energy and gave the company a buy rating in a research note on Thursday, October 26th. Bank of America Corporation began coverage on WPX Energy in a research note on Monday, October 16th. They issued a buy rating for the company. Citigroup Inc. raised their target price on WPX Energy from $12.00 to $13.00 and gave the company a neutral rating in a research note on Friday, October 13th. Finally, Zacks Investment Research upgraded WPX Energy from a hold rating to a buy rating and set a $12.00 target price for the company in a research note on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $15.61.
WPX Energy (NYSE:WPX) traded up $0.03 on Monday, hitting $12.93. The stock had a trading volume of 11,542,370 shares, compared to its average volume of 6,090,000. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 0.95. WPX Energy has a 52 week low of $8.39 and a 52 week high of $16.17.
WPX Energy (NYSE:WPX) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02. The company had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $334.38 million. WPX Energy had a negative return on equity of 5.20% and a negative net margin of 12.65%. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. research analysts expect that WPX Energy will post -0.51 earnings per share for the current fiscal year.
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In other news, insider Clay M. Gaspar sold 35,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $10.48, for a total value of $366,800.00. Following the completion of the transaction, the insider now owns 506,326 shares in the company, valued at $5,306,296.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Advisors Inc. OK grew its holdings in shares of WPX Energy by 2.0% in the second quarter. Capital Advisors Inc. OK now owns 10,337 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 200 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in shares of WPX Energy in the second quarter worth $113,000. Financial Counselors Inc. grew its holdings in shares of WPX Energy by 9.0% in the second quarter. Financial Counselors Inc. now owns 12,111 shares of the oil and gas producer’s stock worth $117,000 after acquiring an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of WPX Energy by 12.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,857 shares of the oil and gas producer’s stock worth $134,000 after acquiring an additional 1,540 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in shares of WPX Energy in the third quarter worth $159,000. 97.86% of the stock is owned by institutional investors.
About WPX Energy
WPX Energy, Inc is an oil and natural gas exploration and production company. The Company is engaged in the exploitation and development of unconventional properties. It operates in the exploration and production segment of the oil and gas industry and its operations are conducted in the United States.
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