Wall Street brokerages forecast that WPX Energy Inc (NYSE:WPX) will post earnings of $0.05 per share for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for WPX Energy’s earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at $0.15. WPX Energy reported earnings of $0.09 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 44.4%. The firm is expected to report its next earnings results on Monday, August 3rd.
On average, analysts expect that WPX Energy will report full-year earnings of $0.21 per share for the current year, with EPS estimates ranging from $0.08 to $0.32. For the next year, analysts anticipate that the company will post earnings of ($0.38) per share, with EPS estimates ranging from ($0.94) to $0.32. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover WPX Energy.
WPX Energy (NYSE:WPX) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. WPX Energy had a positive return on equity of 3.13% and a negative net margin of 2.52%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $625.59 million. During the same quarter last year, the company posted $0.05 earnings per share. The business’s revenue was up 289.4% on a year-over-year basis.
WPX has been the subject of several research reports. Credit Suisse Group restated an “outperform” rating and set a $8.00 price objective on shares of WPX Energy in a research report on Thursday, March 19th. SunTrust Banks cut their price target on WPX Energy from $7.00 to $5.00 and set a “hold” rating for the company in a report on Thursday, April 9th. KeyCorp upped their price objective on WPX Energy from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, March 26th. Stifel Nicolaus upped their price objective on WPX Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Imperial Capital upped their price objective on WPX Energy from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, June 12th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $12.59.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in WPX Energy by 10.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 63,963 shares of the oil and gas producer’s stock valued at $878,000 after buying an additional 6,102 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of WPX Energy by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,785,627 shares of the oil and gas producer’s stock worth $38,275,000 after purchasing an additional 58,205 shares during the last quarter. Aviva PLC lifted its position in shares of WPX Energy by 14.5% during the fourth quarter. Aviva PLC now owns 156,175 shares of the oil and gas producer’s stock worth $2,146,000 after purchasing an additional 19,732 shares during the last quarter. GW&K Investment Management LLC raised its stake in WPX Energy by 18.4% during the fourth quarter. GW&K Investment Management LLC now owns 1,220,249 shares of the oil and gas producer’s stock worth $16,766,000 after acquiring an additional 190,012 shares during the period. Finally, Bank of Montreal Can raised its stake in WPX Energy by 32.0% during the fourth quarter. Bank of Montreal Can now owns 148,378 shares of the oil and gas producer’s stock worth $2,038,000 after acquiring an additional 35,995 shares during the period. Hedge funds and other institutional investors own 98.00% of the company’s stock.
Shares of WPX stock traded up $0.07 during midday trading on Thursday, reaching $6.37. 236,601 shares of the company traded hands, compared to its average volume of 10,711,934. The firm’s 50 day simple moving average is $6.31 and its two-hundred day simple moving average is $8.21. WPX Energy has a 1-year low of $1.94 and a 1-year high of $14.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.68 and a quick ratio of 1.64. The firm has a market cap of $3.43 billion, a PE ratio of -48.46, a price-to-earnings-growth ratio of 1.42 and a beta of 3.59.
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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