WPX Energy, Inc. (WPX) Announces Earnings Results
WPX Energy, Inc. (NYSE:WPX) posted its quarterly earnings results on Wednesday. The oil and gas producer reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02, Bloomberg Earnings reports. WPX Energy had a negative return on equity of 5.99% and a negative net margin of 18.38%. The company had revenue of $224.00 million for the quarter, compared to analysts’ expectations of $334.38 million. During the same period last year, the firm earned ($0.17) earnings per share. WPX Energy’s quarterly revenue was down 10.8% on a year-over-year basis.
In related news, insider Clay M. Gaspar sold 35,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $10.48, for a total transaction of $366,800.00. Following the sale, the insider now owns 506,326 shares in the company, valued at $5,306,296.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.
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WPX has been the topic of a number of research analyst reports. ValuEngine upgraded WPX Energy from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. BidaskClub upgraded WPX Energy from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Barclays PLC reiterated a “hold” rating and set a $8.00 target price on shares of WPX Energy in a research report on Friday, July 7th. Citigroup Inc. cut their target price on WPX Energy from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, July 13th. Finally, BMO Capital Markets lifted their target price on WPX Energy from $12.00 to $13.00 and gave the stock a “no rating at time” rating in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.29.
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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