WPX Energy Inc. (WPX) Upgraded to Buy at Evercore ISI
WPX Energy Inc. (NYSE:WPX) was upgraded by equities researchers at Evercore ISI from a “hold” rating to a “buy” rating in a report released on Friday, The Fly reports.
Other research analysts have also recently issued research reports about the stock. Susquehanna lifted their price objective on shares of WPX Energy from $15.00 to $18.00 and gave the company a “positive” rating in a report on Friday, September 9th. Imperial Capital lifted their price objective on shares of WPX Energy from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, June 23rd. FBR & Co started coverage on shares of WPX Energy in a report on Tuesday. They issued an “outperform” rating and a $16.00 price objective for the company. Zacks Investment Research cut shares of WPX Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Barclays PLC lifted their price objective on shares of WPX Energy from $6.00 to $7.50 and gave the company an “underweight” rating in a report on Monday, August 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $11.53.
WPX Energy (NYSE:WPX) opened at 12.53 on Friday. The stock’s market cap is $4.31 billion. The firm has a 50 day moving average of $12.52 and a 200-day moving average of $10.15. WPX Energy has a 12-month low of $2.53 and a 12-month high of $13.92.
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WPX Energy (NYSE:WPX) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.07. The company earned $138 million during the quarter, compared to analysts’ expectations of $252.14 million. WPX Energy had a negative net margin of 142.42% and a negative return on equity of 6.76%. WPX Energy’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the firm posted ($0.11) earnings per share. On average, analysts expect that WPX Energy will post ($0.81) earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of WPX Energy by 136.1% in the second quarter. Dimensional Fund Advisors LP now owns 15,146,617 shares of the company’s stock worth $141,018,000 after buying an additional 8,732,353 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of WPX Energy by 375.8% in the second quarter. Thrivent Financial for Lutherans now owns 6,241,970 shares of the company’s stock worth $58,113,000 after buying an additional 4,930,200 shares during the last quarter. Vanguard Group Inc. increased its position in shares of WPX Energy by 21.2% in the second quarter. Vanguard Group Inc. now owns 24,336,722 shares of the company’s stock worth $226,575,000 after buying an additional 4,257,789 shares during the last quarter. FMR LLC increased its position in shares of WPX Energy by 264.7% in the second quarter. FMR LLC now owns 3,523,700 shares of the company’s stock worth $32,806,000 after buying an additional 2,557,400 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of 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 last quarter. Institutional investors own 93.91% of the company’s stock.
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.
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