$329.22 Million in Sales Expected for WPX Energy, Inc. (WPX) This Quarter
Analysts expect WPX Energy, Inc. (NYSE:WPX) to announce $329.22 million in sales for the current quarter, Zacks reports. Eight analysts have made estimates for WPX Energy’s earnings, with the highest sales estimate coming in at $344.30 million and the lowest estimate coming in at $312.80 million. WPX Energy posted sales of $251.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 31.2%. The business is expected to report its next quarterly 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 fiscal year, with estimates ranging from $1.23 billion to $1.60 billion. For the next year, analysts forecast that the company will post sales of $1.87 billion per share, with estimates ranging from $1.62 billion to $2.43 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for WPX Energy.
WPX Energy (NYSE:WPX) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. The business 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 company’s quarterly revenue was up 199.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.28) earnings per share.
Several research analysts have weighed in on the stock. ValuEngine lowered shares of WPX Energy from a “hold” rating to a “sell” rating in a report on Monday, August 14th. BidaskClub lowered shares of WPX Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Piper Jaffray Companies decreased their price objective on shares of WPX Energy from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, September 18th. Wolfe Research assumed coverage on shares of WPX Energy in a report on Thursday, June 15th. They set an “outperform” rating and a $13.50 price objective for the company. Finally, Scotiabank reissued a “buy” rating and set a $20.00 price objective on shares of WPX Energy in a report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.62.
WPX Energy (WPX) traded up 2.721% during midday trading on Friday, hitting $11.515. 3,146,574 shares of the stock traded hands. The company’s market cap is $4.58 billion. The company’s 50-day moving average is $10.07 and its 200-day moving average is $11.03. WPX Energy has a one year low of $8.39 and a one year high of $16.17.
In related news, insider Clay M. Gaspar sold 35,000 shares of WPX Energy 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 sale, the insider now directly owns 506,326 shares in the company, valued at approximately $5,306,296.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in WPX Energy by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 33,553,898 shares of the oil and gas producer’s stock valued at $324,132,000 after purchasing an additional 412,663 shares during the last quarter. BlackRock Inc. lifted its position in WPX Energy by 0.6% in the 2nd quarter. BlackRock Inc. now owns 32,391,197 shares of the oil and gas producer’s stock valued at $312,901,000 after purchasing an additional 188,749 shares during the last quarter. State Street Corp lifted its position in WPX Energy by 9.5% in the 2nd quarter. State Street Corp now owns 14,691,763 shares of the oil and gas producer’s stock valued at $141,921,000 after purchasing an additional 1,272,719 shares during the last quarter. FMR LLC lifted its position in WPX Energy by 22.1% in the 2nd quarter. FMR LLC now owns 12,390,649 shares of the oil and gas producer’s stock valued at $119,693,000 after purchasing an additional 2,244,508 shares during the last quarter. Finally, Shapiro Capital Management LLC lifted its position in WPX Energy by 1.5% in the 2nd quarter. Shapiro Capital Management LLC now owns 12,297,864 shares of the oil and gas producer’s stock valued at $118,797,000 after purchasing an additional 177,625 shares during the last quarter. Hedge funds and other institutional investors own 97.73% 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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