Cowen began coverage on shares of WPX Energy (NYSE:WPX) in a research note issued to investors on Thursday, The Fly reports. The brokerage set an “outperform” rating on the oil and gas producer’s stock.
Other research analysts also recently issued reports about the company. Stifel Nicolaus restated a “buy” rating and issued a $26.00 price target on shares of WPX Energy in a research note on Thursday, August 30th. Bank of America upped their price target on WPX Energy from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Robert W. Baird restated a “buy” rating and issued a $25.00 price target on shares of WPX Energy in a research note on Wednesday, August 1st. Goldman Sachs Group downgraded WPX Energy from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research note on Friday, August 3rd. Finally, ValuEngine downgraded WPX Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $23.04.
WPX stock traded up $0.54 during midday trading on Thursday, hitting $14.18. The company’s stock had a trading volume of 9,318,100 shares, compared to its average volume of 6,712,613. WPX Energy has a 12 month low of $11.91 and a 12 month high of $20.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.51 and a quick ratio of 0.47. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of -33.76 and a beta of 2.34.
WPX Energy (NYSE:WPX) last posted its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.02). WPX Energy had a positive return on equity of 0.76% and a negative net margin of 15.79%. The business had revenue of $484.00 million during the quarter, compared to the consensus estimate of $514.08 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was up 233.8% compared to the same quarter last year. Sell-side analysts anticipate that WPX Energy will post 0.18 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of WPX. Third Point LLC purchased a new stake in WPX Energy during the 3rd quarter valued at $63,094,000. Point72 Asset Management L.P. raised its holdings in WPX Energy by 267.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,070,164 shares of the oil and gas producer’s stock valued at $73,385,000 after buying an additional 2,963,264 shares during the period. Van ECK Associates Corp raised its holdings in WPX Energy by 2,746.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,689,435 shares of the oil and gas producer’s stock valued at $48,491,000 after buying an additional 2,594,946 shares during the period. Vanguard Group Inc. raised its holdings in WPX Energy by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 36,939,299 shares of the oil and gas producer’s stock valued at $743,219,000 after buying an additional 1,847,610 shares during the period. Finally, Selz Capital LLC purchased a new stake in WPX Energy during the 3rd quarter valued at $28,079,000. 94.57% of the stock is currently owned by institutional investors and hedge funds.
About WPX Energy
WPX Energy, Inc, an independent oil and natural gas exploration and production company, engages in the exploitation and development of unconventional properties in the United States. The company's principal areas of operation include the Delaware Basin in Texas and New Mexico; the Williston Basin in North Dakota; and the San Juan Basin in New Mexico and Colorado.
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