WPX Energy Inc. (WPX) Research Coverage Started at FBR & Co
Equities researchers at FBR & Co assumed coverage on shares of WPX Energy Inc. (NYSE:WPX) in a research note issued on Tuesday. The firm set an “outperform” rating and a $16.00 price target on the stock. FBR & Co’s price target would indicate a potential upside of 25.10% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the company. Robert W. Baird upgraded WPX Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $8.00 to $12.00 in a research note on Thursday, July 21st. Imperial Capital boosted their price target on WPX Energy from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, June 23rd. Goldman Sachs Group Inc. upgraded WPX Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.50 to $14.75 in a research note on Wednesday, July 6th. Barclays PLC upped their target price on WPX Energy from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, July 14th. Finally, Zacks Investment Research cut WPX Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $11.53.
Shares of WPX Energy (NYSE:WPX) opened at 12.79 on Tuesday. The company’s market cap is $4.40 billion. WPX Energy has a 12 month low of $2.53 and a 12 month high of $13.92. The firm has a 50 day moving average price of $12.46 and a 200-day moving average price of $10.10.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/wpx-energy-inc-wpx-research-coverage-started-at-fbr-co.html
WPX Energy (NYSE:WPX) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by $0.07. The company earned $138 million during the quarter, compared to the consensus estimate of $252.14 million. WPX Energy had a negative net margin of 142.42% and a negative return on equity of 6.76%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) earnings per share. Analysts anticipate that WPX Energy will post ($0.81) earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of WPX. BlackRock Institutional Trust Company N.A. boosted its position in WPX Energy by 13.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,589,684 shares of the company’s stock worth $53,052,000 after buying an additional 917,948 shares during the period. Wellington Management Group LLP boosted its position in WPX Energy by 28.4% in the first quarter. Wellington Management Group LLP now owns 10,163,567 shares of the company’s stock worth $71,044,000 after buying an additional 2,248,105 shares during the period. BlackRock Group LTD boosted its position in WPX Energy by 60.3% in the first quarter. BlackRock Group LTD now owns 316,752 shares of the company’s stock worth $2,215,000 after buying an additional 119,209 shares during the period. Credit Agricole S A boosted its position in WPX Energy by 87.8% in the first quarter. Credit Agricole S A now owns 70,927 shares of the company’s stock worth $496,000 after buying an additional 33,159 shares during the period. Finally, M&T Bank Corp boosted its position in WPX Energy by 7.4% in the first quarter. M&T Bank Corp now owns 16,040 shares of the company’s stock worth $112,000 after buying an additional 1,105 shares during the period. 93.91% of the stock is currently owned by institutional investors and hedge funds.
About WPX Energy
WPX Energy, Inc is an independent oil and natural gas exploration and production company. The Company is engaged in the exploitation and development of long-life unconventional properties. It is engaged in the domestic development, production and gas management activities of oil, natural gas and natural gas liquids (NGLs) segment.
Receive News & Ratings for WPX Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WPX Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.