WPX Energy Inc. (WPX) Sees Large Decline in Short Interest
WPX Energy Inc. (NYSE:WPX) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 34,217,279 shares, a drop of 11.1% from the September 15th total of 38,505,090 shares. Currently, 10.3% of the company’s shares are sold short. Based on an average daily trading volume, of 10,949,667 shares, the days-to-cover ratio is presently 3.1 days.
Shares of WPX Energy (NYSE:WPX) opened at 12.42 on Tuesday. The firm’s 50-day moving average price is $12.56 and its 200 day moving average price is $10.28. WPX Energy has a 12-month low of $2.53 and a 12-month high of $13.92. The company’s market cap is $4.28 billion.
WPX Energy (NYSE:WPX) last announced its 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 had revenue of $138 million for 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 firm’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business posted ($0.11) EPS. On average, analysts predict that WPX Energy will post ($0.81) earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. boosted its stake in shares of 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 valued at $53,052,000 after buying an additional 917,948 shares during the period. Wellington Management Group LLP boosted its stake 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 last quarter. BlackRock Group LTD boosted its stake 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 last quarter. Credit Agricole S A boosted its stake 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 last quarter. Finally, M&T Bank Corp boosted its stake 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 last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.
WPX has been the topic of a number of recent analyst reports. Wunderlich lifted their price objective on WPX Energy from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, October 3rd. Goldman Sachs Group Inc. upgraded WPX Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $10.50 to $14.75 in a research report on Wednesday, July 6th. Zacks Investment Research upgraded WPX Energy from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, June 30th. Evercore ISI upgraded WPX Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from $14.00 to $16.00 in a research report on Friday. Finally, Barclays PLC upgraded WPX Energy from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $9.00 to $13.00 in a research report on Monday. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. WPX Energy presently has an average rating of “Buy” and an average target price of $11.90.
WPX Energy Company Profile
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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