Citigroup Inc. Increases WPX Energy, Inc. (WPX) Price Target to $13.00
WPX Energy, Inc. (NYSE:WPX) had its target price hoisted by equities researchers at Citigroup Inc. from $12.00 to $13.00 in a research report issued on Friday. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 18.94% from the stock’s previous close.
WPX has been the subject of a number of other reports. BMO Capital Markets lifted their price objective on shares of WPX Energy from $12.00 to $13.00 and gave the stock a “no rating at time” rating in a report on Friday, July 14th. ValuEngine raised shares of WPX Energy from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Seaport Global Securities downgraded shares of WPX Energy from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $17.00 to $6.50 in a report on Wednesday, June 21st. Cowen and Company raised shares of WPX Energy from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $15.00 to $14.00 in a report on Thursday, June 22nd. Finally, Scotiabank reaffirmed a “buy” rating and set a $19.00 price objective on shares of WPX Energy in a report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $15.53.
Shares of WPX Energy (WPX) traded up 0.18% on Friday, reaching $10.95. 1,611,422 shares of the company’s stock traded hands. WPX Energy has a one year low of $8.39 and a one year high of $16.17. The firm’s market cap is $4.36 billion. The company’s 50-day moving average price is $10.67 and its 200 day moving average price is $10.91.
WPX Energy (NYSE:WPX) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. WPX Energy had a negative net margin of 18.38% and a negative return on equity of 5.99%. The company had revenue of $413.00 million during the quarter, compared to the consensus estimate of $301.78 million. During the same period in the previous year, the firm posted ($0.28) EPS. The firm’s revenue was up 199.3% compared to the same quarter last year. On average, equities analysts forecast that WPX Energy will post ($0.50) EPS for the current fiscal year.
In other WPX Energy news, insider Clay M. Gaspar sold 35,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $10.48, for a total value of $366,800.00. Following the transaction, the insider now owns 506,326 shares in the company, valued at $5,306,296.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Capital Advisors Inc. OK increased its position 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 valued at $100,000 after acquiring an additional 200 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of WPX Energy in the second quarter valued at about $113,000. Financial Counselors Inc. increased its position 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 valued at $117,000 after acquiring an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 valued at $134,000 after acquiring an additional 1,540 shares during the period. Finally, BlueMountain Capital Management LLC increased its position 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 valued at $140,000 after acquiring an additional 4,097 shares during the period. Hedge funds and other institutional investors own 97.73% of the company’s stock.
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.
Receive News & Ratings for WPX Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WPX Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.