Jennison Associates LLC Buys 70,810 Shares of WPX Energy Inc (NYSE:WPX)

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Jennison Associates LLC raised its stake in WPX Energy Inc (NYSE:WPX) by 0.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,610,832 shares of the oil and gas producer’s stock after purchasing an additional 70,810 shares during the quarter. Jennison Associates LLC owned 2.51% of WPX Energy worth $122,131,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in WPX Energy by 166.0% in the first quarter. Quadrant Capital Group LLC now owns 7,820 shares of the oil and gas producer’s stock valued at $98,000 after purchasing an additional 4,880 shares during the last quarter. Spectrum Management Group Inc. bought a new stake in WPX Energy in the second quarter valued at approximately $115,000. Capital Investment Advisors LLC bought a new stake in WPX Energy in the second quarter valued at approximately $116,000. Commonwealth Equity Services LLC bought a new stake in WPX Energy in the second quarter valued at approximately $123,000. Finally, Machina Capital S.A.S. bought a new stake in WPX Energy in the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.

Several analysts have weighed in on the company. Zacks Investment Research upgraded WPX Energy from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Saturday, May 11th. Guggenheim set a $18.00 price objective on WPX Energy and gave the company a “buy” rating in a research report on Wednesday. TheStreet cut WPX Energy from a “b-” rating to a “c” rating in a research note on Thursday, May 2nd. Piper Jaffray Companies set a $14.00 target price on WPX Energy and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, TD Securities reduced their target price on WPX Energy from $19.00 to $18.50 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $18.76.

WPX stock traded down $0.41 during midday trading on Friday, hitting $10.16. The stock had a trading volume of 7,246,998 shares, compared to its average volume of 10,642,982. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 112.89, a price-to-earnings-growth ratio of 0.99 and a beta of 2.26. The business has a 50-day moving average of $10.32 and a two-hundred day moving average of $11.91. WPX Energy Inc has a 52-week low of $8.79 and a 52-week high of $20.80. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.75 and a quick ratio of 0.71.

WPX Energy (NYSE:WPX) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $695.00 million for the quarter, compared to analysts’ expectations of $566.34 million. WPX Energy had a return on equity of 2.28% and a net margin of 23.59%. The firm’s revenue for the quarter was up 61.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. Research analysts predict that WPX Energy Inc will post 0.38 earnings per share for the current year.

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 operates 657 wells and owns interests in 808 wells covering an area of approximately 130,000 net acres located in Delaware Basin, Texas and New Mexico; and operates 323 wells and owns interests in 87 wells that covers an area of approximately 85,087 net acres situated in the Williston Basin, North Dakota.

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

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