Piper Jaffray Weighs in on WPX Energy’s Q3 2018 Earnings (WPX)

WPX Energy (NYSE:WPX) – Piper Jaffray lifted their Q3 2018 earnings estimates for WPX Energy in a note issued to investors on Wednesday, April 18th. Piper Jaffray analyst K. Harrison now forecasts that the oil and gas producer will post earnings per share of $0.06 for the quarter, up from their prior estimate of $0.05. Piper Jaffray currently has a “Buy” rating and a $18.00 target price on the stock. Piper Jaffray also issued estimates for WPX Energy’s Q4 2018 earnings at $0.10 EPS, Q1 2019 earnings at $0.18 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.18 EPS and Q4 2019 earnings at $0.23 EPS.

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WPX Energy (NYSE:WPX) last released its earnings results on Wednesday, February 21st. The oil and gas producer reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.06. The firm had revenue of $238.00 million for the quarter, compared to analyst estimates of $410.78 million. WPX Energy had a negative return on equity of 3.83% and a negative net margin of 1.20%. The company’s revenue was up 170.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) EPS.

A number of other analysts have also issued reports on WPX. Cowen set a $18.00 target price on WPX Energy and gave the company a “buy” rating in a report on Thursday, January 18th. SunTrust Banks set a $20.00 target price on WPX Energy and gave the company a “buy” rating in a report on Friday, January 19th. Zacks Investment Research raised WPX Energy from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Sunday, January 21st. Stifel Nicolaus set a $24.00 target price on WPX Energy and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Goldman Sachs raised WPX Energy from a “buy” rating to a “conviction-buy” rating in a report on Thursday, February 1st. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. WPX Energy currently has a consensus rating of “Buy” and an average price target of $18.45.

WPX opened at $16.52 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. WPX Energy has a 12-month low of $8.39 and a 12-month high of $16.95.

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its position in shares of WPX Energy by 83.1% during the 4th quarter. Millennium Management LLC now owns 14,867,732 shares of the oil and gas producer’s stock worth $209,189,000 after buying an additional 6,748,268 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its position in shares of WPX Energy by 93.6% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 2,606,321 shares of the oil and gas producer’s stock worth $36,671,000 after buying an additional 1,259,799 shares during the period. Brandywine Global Investment Management LLC bought a new position in shares of WPX Energy during the 4th quarter worth approximately $13,974,000. Mackenzie Financial Corp lifted its position in shares of WPX Energy by 64.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,831,557 shares of the oil and gas producer’s stock worth $25,770,000 after buying an additional 719,057 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of WPX Energy by 395.9% during the 4th quarter. First Trust Advisors LP now owns 720,633 shares of the oil and gas producer’s stock worth $10,139,000 after buying an additional 575,327 shares during the period. Institutional investors own 99.74% of the company’s stock.

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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.

Earnings History and Estimates for WPX Energy (NYSE:WPX)

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