Analysts Set Expectations for WPX Energy, Inc.’s FY2017 Earnings (WPX)
WPX Energy, Inc. (NYSE:WPX) – Equities researchers at Capital One Financial Corporation raised their FY2017 EPS estimates for shares of WPX Energy in a research report issued on Wednesday. Capital One Financial Corporation analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of ($0.65) for the year, up from their prior forecast of ($0.70).
WPX Energy (NYSE:WPX) last issued its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. WPX Energy had a negative return on equity of 5.99% and a negative net margin of 18.38%. The business had revenue of $413.00 million during the quarter, compared to analyst estimates of $301.78 million. During the same period in the previous year, the company posted ($0.28) EPS. The firm’s revenue was up 199.3% compared to the same quarter last year.
Several other brokerages have also commented on WPX. ValuEngine lowered shares of WPX Energy from a “hold” rating to a “sell” rating in a report on Monday, August 14th. BidaskClub lowered shares of WPX Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Wolfe Research started coverage on shares of WPX Energy in a report on Thursday, June 15th. They issued an “outperform” rating and a $13.50 price objective for the company. Scotiabank restated a “buy” rating and issued a $20.00 price objective on shares of WPX Energy in a report on Tuesday, June 13th. Finally, Cowen and Company upgraded shares of WPX Energy from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $15.00 to $14.00 in a report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $15.80.
Shares of WPX Energy (WPX) opened at 10.51 on Friday. The company has a 50-day moving average price of $10.09 and a 200-day moving average price of $11.10. The company’s market capitalization is $4.18 billion. WPX Energy has a 12 month low of $8.39 and a 12 month high of $16.17.
Several institutional investors and hedge funds have recently made changes to their positions in WPX. Capital Advisors Inc. OK increased its position in shares of WPX Energy by 2.0% during the second quarter. Capital Advisors Inc. OK now owns 10,337 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 200 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of WPX Energy during the second quarter valued at approximately $113,000. Financial Counselors Inc. increased its position in shares of WPX Energy by 9.0% during the second quarter. Financial Counselors Inc. now owns 12,111 shares of the oil and gas producer’s stock valued at $117,000 after acquiring an additional 1,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of WPX Energy by 12.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,857 shares of the oil and gas producer’s stock valued at $134,000 after acquiring an additional 1,540 shares in the last quarter. Finally, BlueMountain Capital Management LLC increased its position in shares of WPX Energy by 39.3% during the second quarter. BlueMountain Capital Management LLC now owns 14,532 shares of the oil and gas producer’s stock valued at $140,000 after acquiring an additional 4,097 shares in the last quarter. 97.61% of the stock is owned by institutional investors.
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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