SeaBridge Investment Advisors LLC Grows Holdings in WPX Energy Inc (WPX)

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SeaBridge Investment Advisors LLC boosted its holdings in WPX Energy Inc (NYSE:WPX) by 1,797.7% in the third quarter, HoldingsChannel.com reports. The firm owned 186,353 shares of the oil and gas producer’s stock after acquiring an additional 176,533 shares during the period. SeaBridge Investment Advisors LLC’s holdings in WPX Energy were worth $3,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Cornerstone Wealth Management LLC acquired a new position in shares of WPX Energy during the second quarter valued at $206,000. Qube Research & Technologies Ltd acquired a new position in shares of WPX Energy during the second quarter valued at $108,000. Hartford Financial Management Inc. acquired a new position in shares of WPX Energy during the second quarter valued at $108,000. Usca Ria LLC acquired a new position in shares of WPX Energy during the second quarter valued at $186,000. Finally, Bayesian Capital Management LP acquired a new position in shares of WPX Energy during the first quarter valued at $171,000. 93.71% of the stock is owned by hedge funds and other institutional investors.

WPX stock traded down $0.13 during trading on Friday, hitting $18.12. The company had a trading volume of 286,637 shares, compared to its average volume of 6,586,443. The company has a market capitalization of $7.79 billion, a P/E ratio of -44.13 and a beta of 2.33. WPX Energy Inc has a fifty-two week low of $9.90 and a fifty-two week high of $20.80. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.58.

WPX Energy (NYSE:WPX) last issued its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. WPX Energy had a negative net margin of 30.02% and a negative return on equity of 0.97%. The firm had revenue of $430.00 million for the quarter, compared to analysts’ expectations of $432.92 million. During the same period in the previous year, the business earned $0.18 earnings per share. WPX Energy’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities analysts anticipate that WPX Energy Inc will post 0.21 EPS for the current year.

WPX has been the subject of several analyst reports. Northland Securities set a $26.00 price target on shares of WPX Energy and gave the company a “buy” rating in a report on Friday, August 3rd. Bank of America boosted their price target on shares of WPX Energy from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Robert W. Baird reissued a “buy” rating and set a $25.00 price target on shares of WPX Energy in a report on Wednesday, August 1st. Zacks Investment Research raised shares of WPX Energy from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, July 26th. Finally, TD Securities initiated coverage on shares of WPX Energy in a report on Thursday, July 5th. They set a “buy” rating and a $25.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. WPX Energy has a consensus rating of “Buy” and an average target price of $22.88.

About WPX Energy

WPX Energy, Inc, an independent oil and natural gas exploration and production company, engages in the exploitation and development of unconventional properties in the United States. The company's principal areas of operation include the Delaware Basin in Texas and New Mexico; the Williston Basin in North Dakota; and the San Juan Basin in New Mexico and Colorado.

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Institutional Ownership by Quarter for WPX Energy (NYSE:WPX)

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