Northland Securities Reiterates “$20.00” Price Target for WPX Energy, Inc. (WPX)
WPX Energy, Inc. (NYSE:WPX) has been assigned a $20.00 price objective by analysts at Northland Securities in a research report issued on Monday. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Northland Securities’ price target would suggest a potential upside of 100.80% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus assumed coverage on shares of WPX Energy in a research report on Wednesday, April 12th. They set a “buy” rating and a $21.00 target price for the company. Credit Suisse Group assumed coverage on shares of WPX Energy in a research report on Thursday, June 1st. They set an “outperform” rating and a $18.00 target price for the company. Scotiabank reiterated a “buy” rating and set a $20.00 target price on shares of WPX Energy in a research report on Monday, March 27th. ValuEngine lowered shares of WPX Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, FBR & Co reiterated a “buy” rating and set a $19.00 target price on shares of WPX Energy in a research report on Monday, April 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $15.75.
WPX Energy (WPX) traded up 0.61% during mid-day trading on Monday, hitting $9.96. 5,405,154 shares of the stock were exchanged. The stock’s 50-day moving average is $10.69 and its 200 day moving average is $12.63. WPX Energy has a 52 week low of $8.39 and a 52 week high of $16.17. The company’s market capitalization is $3.96 billion.
WPX Energy (NYSE:WPX) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The company had revenue of $461 million during the quarter, compared to analyst estimates of $254.24 million. WPX Energy had a negative net margin of 52.99% and a negative return on equity of 7.13%. On average, analysts anticipate that WPX Energy will post ($0.57) EPS for the current year.
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A number of large investors have recently made changes to their positions in WPX. Bronfman E.L. Rothschild L.P. increased its stake in shares of WPX Energy by 32.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 11,890 shares of the oil and gas producer’s stock worth $159,000 after buying an additional 2,915 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of WPX Energy by 14.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 180,480 shares of the oil and gas producer’s stock worth $2,417,000 after buying an additional 22,290 shares in the last quarter. Norges Bank bought a new stake in shares of WPX Energy during the fourth quarter worth $50,329,000. Hudson Bay Capital Management LP bought a new stake in shares of WPX Energy during the fourth quarter worth $1,457,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of WPX Energy during the first quarter worth $199,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.
About WPX Energy
WPX Energy, Inc is an oil and natural gas exploration and production company. The Company is engaged in the exploitation and development of unconventional properties. It operates in the exploration and production segment of the oil and gas industry and its operations are conducted in the United States.
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