Traders Buy WPX Energy (WPX) on Weakness

Investors purchased shares of WPX Energy (NYSE:WPX) on weakness during trading hours on Monday. $17.05 million flowed into the stock on the tick-up and $12.85 million flowed out of the stock on the tick-down, for a money net flow of $4.20 million into the stock. Of all equities tracked, WPX Energy had the 24th highest net in-flow for the day. WPX Energy traded down ($0.12) for the day and closed at $14.34

Several research firms have commented on WPX. Johnson Rice began coverage on shares of WPX Energy in a research note on Wednesday, March 21st. They issued a “buy” rating and a $23.00 target price for the company. Bank of America lifted their target price on shares of WPX Energy from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, March 8th. Citigroup set a $20.00 target price on shares of WPX Energy and gave the stock a “buy” rating in a research note on Friday, March 9th. Robert W. Baird lifted their target price on shares of WPX Energy from $17.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $24.00 target price (up from $20.00) on shares of WPX Energy in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $18.40.

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The stock has a market capitalization of $5,758.03, a price-to-earnings ratio of -174.29 and a beta of 2.41. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 0.66.

WPX Energy (NYSE:WPX) last announced its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.06. The company had revenue of $238.00 million for the quarter, compared to analyst estimates of $410.78 million. WPX Energy had a negative net margin of 1.20% and a negative return on equity of 3.83%. WPX Energy’s revenue for the quarter was up 170.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.16) EPS. research analysts expect that WPX Energy will post 0.03 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its holdings in shares of WPX Energy by 83.1% during the 4th quarter. Millennium Management LLC now owns 14,867,732 shares of the oil and gas producer’s stock valued at $209,189,000 after acquiring an additional 6,748,268 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of WPX Energy by 57.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,773,877 shares of the oil and gas producer’s stock valued at $100,865,000 after acquiring an additional 3,200,766 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its holdings in shares of WPX Energy by 93.6% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 2,606,321 shares of the oil and gas producer’s stock valued at $36,671,000 after acquiring an additional 1,259,799 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of WPX Energy during the 4th quarter valued at $13,974,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of WPX Energy by 440.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 883,291 shares of the oil and gas producer’s stock valued at $10,158,000 after acquiring an additional 719,924 shares in the last quarter. Institutional investors own 99.51% of the company’s stock.

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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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