WPX Energy (NYSE:WPX) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, November 16th, Marketbeat Ratings reports. The brokerage currently has a $17.00 price objective on the oil and gas producer’s stock. Citigroup’s price target suggests a potential upside of 29.97% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of WPX Energy from a “hold” rating to a “sell” rating in a report on Monday, August 14th. BidaskClub downgraded shares of WPX Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Piper Jaffray Companies reduced their price objective on shares of WPX Energy from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, September 18th. BMO Capital Markets set a $13.00 price objective on shares of WPX Energy and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, Bank of America initiated coverage on shares of WPX Energy in a research report on Monday, October 16th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $15.92.
WPX Energy (NYSE WPX) remained flat at $$13.08 on Thursday. 6,099,739 shares of the stock traded hands, compared to its average volume of 7,400,038. WPX Energy has a one year low of $8.39 and a one year high of $15.91. The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73.
WPX Energy (NYSE:WPX) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. WPX Energy had a negative net margin of 12.65% and a negative return on equity of 5.20%. The business had revenue of $224.00 million during the quarter, compared to the consensus estimate of $334.38 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue was down 10.8% on a year-over-year basis. equities research analysts forecast that WPX Energy will post -0.46 earnings per share for the current fiscal year.
In other news, insider Clay M. Gaspar sold 35,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $10.48, for a total transaction of $366,800.00. Following the transaction, the insider now directly owns 506,326 shares in the company, valued at $5,306,296.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Advisors Inc. OK boosted its stake in WPX Energy by 2.0% in the second quarter. Capital Advisors Inc. OK now owns 10,337 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 200 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in WPX Energy in the second quarter valued at approximately $113,000. Financial Counselors Inc. boosted its stake in WPX Energy by 9.0% in the second quarter. Financial Counselors Inc. now owns 12,111 shares of the oil and gas producer’s stock valued at $117,000 after acquiring an additional 1,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in WPX Energy by 12.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,857 shares of the oil and gas producer’s stock valued at $134,000 after acquiring an additional 1,540 shares in the last quarter. Finally, Commonwealth Equity Services Inc acquired a new stake in WPX Energy in the third quarter valued at approximately $137,000. Institutional investors own 99.81% 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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