WPX Energy (NYSE:WPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Sunday. The firm currently has a $16.00 price target on the oil and gas producer’s stock. Zacks Investment Research‘s target price suggests a potential upside of 7.45% from the company’s previous close.
According to Zacks, “Shares of WPX Energy have gained higher than the industry in last six months. The company continues to work on its strategy of increasing oil production, which is evident from the rising liquid mix in total production. Liquids accounted for 69.7% of total production in the third quarter. Production from the Delaware Basin increased substantially during the quarter with the help of assets the company acquired during the first quarter. We believe WPX Energy's exposure in the Delaware, Williston and San Juan basins will enable it achieve its new goal of higher oil generation in 2018. However, the competitive energy space, volatility in crude oil prices, stringent regulations and dependence on third parties to market their products are the headwinds. “
WPX has been the subject of a number of other reports. Seaport Global Securities raised WPX Energy from a “sell” rating to a “neutral” rating in a research note on Tuesday, December 19th. SunTrust Banks set a $20.00 price target on WPX Energy and gave the company a “buy” rating in a research note on Friday. Cowen set a $18.00 price target on WPX Energy and gave the company a “buy” rating in a research note on Thursday. Piper Jaffray Companies reissued a “hold” rating and set a $14.00 price target on shares of WPX Energy in a research note on Wednesday, November 22nd. Finally, Stifel Nicolaus set a $17.00 price target on WPX Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $16.55.
WPX Energy (WPX) opened at $14.89 on Friday. The firm has a market capitalization of $5,930.00, a PE ratio of -30.39, a PEG ratio of 9.26 and a beta of 2.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 0.95. WPX Energy has a one year low of $8.39 and a one year high of $15.17.
WPX Energy (NYSE:WPX) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. WPX Energy had a negative return on equity of 5.20% and a negative net margin of 12.65%. The company had revenue of $224.00 million during the quarter, compared to analyst estimates of $334.38 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The firm’s revenue was down 10.8% on a year-over-year basis. research analysts forecast that WPX Energy will post -0.46 EPS for the current year.
Large investors have recently bought and sold shares of the company. Schroder Investment Management Group lifted its stake in shares of WPX Energy by 31.1% in the 3rd quarter. Schroder Investment Management Group now owns 1,927,805 shares of the oil and gas producer’s stock valued at $22,131,000 after purchasing an additional 457,260 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of WPX Energy in the 3rd quarter valued at approximately $544,000. Gagnon Securities LLC lifted its stake in shares of WPX Energy by 23.8% in the 3rd quarter. Gagnon Securities LLC now owns 801,028 shares of the oil and gas producer’s stock valued at $9,212,000 after purchasing an additional 153,913 shares during the last quarter. Commonwealth Equity Services Inc bought a new stake in shares of WPX Energy in the 3rd quarter valued at approximately $137,000. Finally, Ninepoint Partners LP bought a new stake in shares of WPX Energy in the 3rd quarter valued at approximately $13,512,000. 99.78% of the stock is owned by institutional investors and hedge funds.
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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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