Analysts Expect WPX Energy, Inc. (WPX) Will Announce Quarterly Sales of $329.22 Million
Equities analysts forecast that WPX Energy, Inc. (NYSE:WPX) will post $329.22 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for WPX Energy’s earnings, with estimates ranging from $312.80 million to $344.30 million. WPX Energy posted sales of $251.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 31.2%. The business is scheduled to issue its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that WPX Energy will report full-year sales of $329.22 million for the current year, with estimates ranging from $1.23 billion to $1.60 billion. For the next year, analysts forecast that the company will report sales of $1.87 billion per share, with estimates ranging from $1.62 billion to $2.43 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow WPX Energy.
WPX Energy (NYSE:WPX) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. The company had revenue of $413.00 million during the quarter, compared to the consensus estimate of $301.78 million. WPX Energy had a negative net margin of 18.38% and a negative return on equity of 5.99%. The firm’s quarterly revenue was up 199.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.28) earnings per share.
Several equities research analysts have recently weighed in on WPX shares. BidaskClub cut shares of WPX Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Scotiabank reissued a “buy” rating and set a $20.00 target price on shares of WPX Energy in a research report on Tuesday, June 13th. Northland Securities set a $20.00 target price on shares of WPX Energy and gave the company a “buy” rating in a research report on Monday, August 21st. J P Morgan Chase & Co reissued an “overweight” rating and set a $17.00 target price (up previously from $16.00) on shares of WPX Energy in a research report on Thursday, August 24th. Finally, Stifel Nicolaus set a $18.00 target price on shares of WPX Energy and gave the company a “buy” rating in a research report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $15.62.
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Shares of WPX Energy (WPX) opened at 11.20 on Friday. WPX Energy has a 12 month low of $8.39 and a 12 month high of $16.17. The company’s 50 day moving average is $10.07 and its 200 day moving average is $11.03. The company’s market cap is $4.46 billion.
In other WPX Energy news, insider Clay M. Gaspar sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $10.48, for a total transaction of $366,800.00. Following the transaction, the insider now owns 506,326 shares in the company, valued at approximately $5,306,296.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WPX. Capital Advisors Inc. OK increased its stake in shares of WPX Energy by 2.0% in the second quarter. Capital Advisors Inc. OK now owns 10,337 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 200 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of WPX Energy in the second quarter worth $113,000. Financial Counselors Inc. increased its stake in shares of WPX Energy by 9.0% in the second quarter. Financial Counselors Inc. now owns 12,111 shares of the oil and gas producer’s stock worth $117,000 after acquiring an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of WPX Energy by 12.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,857 shares of the oil and gas producer’s stock worth $134,000 after acquiring an additional 1,540 shares during the period. Finally, BlueMountain Capital Management LLC increased its stake in shares of WPX Energy by 39.3% in the second quarter. BlueMountain Capital Management LLC now owns 14,532 shares of the oil and gas producer’s stock worth $140,000 after acquiring an additional 4,097 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.
WPX Energy Company Profile
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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