WPX Energy Inc (NYSE:WPX) – Stock analysts at Seaport Global Securities upped their Q2 2018 earnings estimates for shares of WPX Energy in a research report issued on Friday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas producer will earn $0.01 per share for the quarter, up from their previous forecast of ($0.01). Seaport Global Securities currently has a “Neutral” rating on the stock.
Several other equities analysts also recently issued reports on the company. Citigroup upgraded WPX Energy from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, November 16th. Bank of America boosted their price objective on WPX Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Robert W. Baird boosted their price objective on WPX Energy from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, December 18th. Stifel Nicolaus set a $19.00 price objective on WPX Energy and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Barclays upgraded WPX Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $10.00 to $14.00 in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. WPX Energy has a consensus rating of “Buy” and an average price target of $16.55.
WPX Energy (NYSE:WPX) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The company had revenue of $224.00 million during the quarter, compared to analyst estimates of $334.38 million. WPX Energy had a negative return on equity of 5.20% and a negative net margin of 12.65%. The business’s revenue was down 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) earnings per share.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in WPX Energy by 1.2% in the second quarter. Vanguard Group Inc. now owns 33,553,898 shares of the oil and gas producer’s stock worth $324,132,000 after purchasing an additional 412,663 shares during the period. BlackRock Inc. lifted its position in WPX Energy by 0.6% in the second quarter. BlackRock Inc. now owns 32,391,197 shares of the oil and gas producer’s stock worth $312,901,000 after purchasing an additional 188,749 shares during the period. State Street Corp lifted its position in WPX Energy by 9.5% in the second quarter. State Street Corp now owns 14,691,763 shares of the oil and gas producer’s stock worth $141,921,000 after purchasing an additional 1,272,719 shares during the period. FMR LLC lifted its position in WPX Energy by 22.1% in the second quarter. FMR LLC now owns 12,390,649 shares of the oil and gas producer’s stock worth $119,693,000 after purchasing an additional 2,244,508 shares during the period. Finally, Jennison Associates LLC lifted its position in WPX Energy by 6.7% in the third quarter. Jennison Associates LLC now owns 11,736,196 shares of the oil and gas producer’s stock worth $134,966,000 after purchasing an additional 741,194 shares during the period. Hedge funds and other institutional investors own 99.78% of the company’s stock.
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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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