Evercore ISI upgraded shares of WPX Energy Inc. (NYSE:WPX) from a hold rating to a buy rating in a research note published on Friday morning. The firm currently has $16.00 price target on the stock, up from their previous price target of $14.00.
WPX has been the subject of several other reports. BMO Capital Markets reissued a hold rating and issued a $13.00 target price on shares of WPX Energy in a research note on Wednesday, September 7th. Citigroup Inc. raised their target price on shares of WPX Energy from $14.00 to $15.00 and gave the company a neutral rating in a research note on Monday, September 12th. Wunderlich raised their target price on shares of WPX Energy from $14.00 to $17.00 and gave the company a buy rating in a research note on Monday, October 3rd. Robert W. Baird raised shares of WPX Energy from a neutral rating to an outperform rating and lifted their price objective for the stock from $8.00 to $12.00 in a research report on Thursday, July 21st. Finally, Zacks Investment Research raised shares of WPX Energy from a hold rating to a buy rating and set a $11.00 price objective for the company in a research report on Thursday, June 30th. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $11.90.
Shares of WPX Energy (NYSE:WPX) traded down 0.121% during trading on Friday, hitting $12.415. 2,073,170 shares of the stock were exchanged. The firm’s 50-day moving average is $12.54 and its 200 day moving average is $10.19. WPX Energy has a 1-year low of $2.53 and a 1-year high of $13.92. The company’s market cap is $4.27 billion.
WPX Energy (NYSE:WPX) last released its earnings results on Thursday, August 4th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.07. WPX Energy had a negative net margin of 142.42% and a negative return on equity of 6.76%. The firm earned $138 million during the quarter, compared to the consensus estimate of $252.14 million. During the same period in the prior year, the business posted ($0.11) earnings per share. WPX Energy’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities analysts forecast that WPX Energy will post ($0.81) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board purchased a new position in WPX Energy during the second quarter valued at about $100,000. Veritable L.P. increased its position in 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 in the last quarter. Cypress Capital Management LLC WY purchased a new position in WPX Energy during the second quarter valued at about $104,000. M&T Bank Corp increased its position in WPX Energy by 7.4% in the first quarter. M&T Bank Corp now owns 16,040 shares of the company’s stock valued at $112,000 after buying an additional 1,105 shares in the last quarter. Finally, Raymond James & Associates increased its position in 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 in the last quarter. 93.91% 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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