Seaport Global Securities Comments on WPX Energy Inc’s FY2018 Earnings (WPX)

WPX Energy Inc (NYSE:WPX) – Seaport Global Securities lifted their FY2018 EPS estimates for shares of WPX Energy in a report released on Thursday, November 1st. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will earn $0.14 per share for the year, up from their previous forecast of $0.11. Seaport Global Securities currently has a “Buy” rating and a $28.00 price objective on the stock. Seaport Global Securities also issued estimates for WPX Energy’s Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.19 EPS and FY2019 earnings at $0.72 EPS.

WPX Energy (NYSE:WPX) last announced its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $484.00 million for the quarter, compared to analyst estimates of $514.08 million. WPX Energy had a positive return on equity of 0.76% and a negative net margin of 15.79%. The business’s revenue was up 233.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.10) EPS.

A number of other brokerages have also recently issued reports on WPX. Zacks Investment Research upgraded shares of WPX Energy from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, October 3rd. Jefferies Financial Group assumed coverage on shares of WPX Energy in a research report on Friday, September 28th. They set a “buy” rating and a $28.00 target price for the company. Scotiabank restated a “buy” rating and set a $26.00 target price on shares of WPX Energy in a research report on Thursday, September 27th. Goldman Sachs Group cut shares of WPX Energy from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research report on Friday, August 3rd. Finally, Northland Securities set a $26.00 target price on shares of WPX Energy and gave the stock a “buy” rating in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. WPX Energy currently has a consensus rating of “Buy” and a consensus price target of $22.78.

Shares of WPX opened at $15.88 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of -37.81 and a beta of 2.34. WPX Energy has a 12-month low of $11.58 and a 12-month high of $20.80.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of WPX Energy by 0.7% during the second quarter. BlackRock Inc. now owns 33,662,137 shares of the oil and gas producer’s stock worth $606,928,000 after buying an additional 225,174 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of WPX Energy by 2.5% during the second quarter. Jennison Associates LLC now owns 11,440,094 shares of the oil and gas producer’s stock worth $206,265,000 after buying an additional 281,476 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of WPX Energy by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,606,150 shares of the oil and gas producer’s stock worth $119,115,000 after buying an additional 98,950 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of WPX Energy by 30.0% during the third quarter. Wells Fargo & Company MN now owns 5,470,953 shares of the oil and gas producer’s stock worth $110,076,000 after buying an additional 1,262,875 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of WPX Energy by 267.7% during the second quarter. Point72 Asset Management L.P. now owns 4,070,164 shares of the oil and gas producer’s stock worth $73,385,000 after buying an additional 2,963,264 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

WPX Energy Company Profile

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.

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

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