State Board of Administration of Florida Retirement System raised its stake in WPX Energy Inc (NYSE:WPX) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 669,705 shares of the oil and gas producer’s stock after acquiring an additional 86,577 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.16% of WPX Energy worth $7,708,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in WPX Energy by 166.0% during the 1st quarter. Quadrant Capital Group LLC now owns 7,820 shares of the oil and gas producer’s stock worth $98,000 after acquiring an additional 4,880 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in WPX Energy by 64.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,237 shares of the oil and gas producer’s stock worth $158,000 after acquiring an additional 3,237 shares during the period. Spectrum Management Group Inc. bought a new stake in WPX Energy during the 2nd quarter worth approximately $115,000. Capital Investment Advisors LLC bought a new stake in WPX Energy during the 2nd quarter worth approximately $116,000. Finally, Cleararc Capital Inc. bought a new stake in WPX Energy during the 1st quarter worth approximately $133,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.
Shares of WPX traded up $0.41 on Wednesday, reaching $10.66. The company’s stock had a trading volume of 46,785 shares, compared to its average volume of 10,669,069. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.75 and a quick ratio of 0.71. The stock has a market capitalization of $4.29 billion, a P/E ratio of 118.56, a PEG ratio of 0.95 and a beta of 2.26. The stock’s 50 day simple moving average is $10.27 and its two-hundred day simple moving average is $11.86. WPX Energy Inc has a 12-month low of $8.79 and a 12-month high of $20.80.
A number of brokerages have recently commented on WPX. Cowen set a $14.00 price target on shares of WPX Energy and gave the stock a “buy” rating in a report on Wednesday, August 21st. Piper Jaffray Companies set a $14.00 price target on shares of WPX Energy and gave the company a “buy” rating in a research report on Friday, August 16th. MKM Partners started coverage on shares of WPX Energy in a research report on Thursday, June 13th. They set a “buy” rating and a $15.00 price target for the company. Guggenheim set a $18.00 price target on shares of WPX Energy and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Imperial Capital increased their price target on shares of WPX Energy from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. One equities research 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. WPX Energy currently has a consensus rating of “Buy” and an average target price of $18.76.
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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