WPX Energy Inc (NYSE:WPX) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 35,260,000 shares, a growth of 12.3% from the September 30th total of 31,390,000 shares. Currently, 8.5% of the company’s stock are sold short. Based on an average daily volume of 9,020,000 shares, the days-to-cover ratio is presently 3.9 days.
Shares of NYSE WPX traded down $0.18 during midday trading on Wednesday, reaching $10.34. 127,796 shares of the company’s stock were exchanged, compared to its average volume of 7,944,892. WPX Energy has a 52-week low of $8.79 and a 52-week high of $15.32. The stock has a market capitalization of $4.33 billion, a PE ratio of 115.17, a price-to-earnings-growth ratio of 1.13 and a beta of 2.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.83 and a current ratio of 0.88. The business’s fifty day moving average price is $10.19 and its two-hundred day moving average price is $10.89.
WPX Energy (NYSE:WPX) last announced its earnings results on Wednesday, October 30th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The business had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $623.75 million. WPX Energy had a return on equity of 2.39% and a net margin of 25.50%. The firm’s revenue was up 64.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. Analysts predict that WPX Energy will post 0.34 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Scout Investments Inc. purchased a new position in WPX Energy during the second quarter worth $4,377,000. Nisa Investment Advisors LLC increased its position in WPX Energy by 64.4% during the second quarter. Nisa Investment Advisors LLC now owns 61,800 shares of the oil and gas producer’s stock worth $711,000 after buying an additional 24,200 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in WPX Energy by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 160,359 shares of the oil and gas producer’s stock worth $1,846,000 after buying an additional 2,259 shares in the last quarter. Clear Street Markets LLC purchased a new position in WPX Energy during the second quarter worth $186,000. Finally, Fox Run Management L.L.C. purchased a new position in WPX Energy during the second quarter worth $377,000. 99.15% of the stock is owned by hedge funds and other institutional investors.
WPX has been the topic of several research reports. Guggenheim set a $18.00 price objective on WPX Energy and gave the company a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. cut their price objective on WPX Energy from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. KeyCorp cut their price objective on WPX Energy from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Imperial Capital raised their price objective on WPX Energy from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Cowen set a $14.00 price objective on WPX Energy and gave the company a “buy” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. WPX Energy currently has a consensus rating of “Buy” and an average target price of $16.69.
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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