$384.23 Million in Sales Expected for WPX Energy, Inc. (WPX) This Quarter
Wall Street analysts expect WPX Energy, Inc. (NYSE:WPX) to post $384.23 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for WPX Energy’s earnings, with the lowest sales estimate coming in at $367.00 million and the highest estimate coming in at $433.73 million. WPX Energy reported sales of $236.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 62.8%. The firm is expected to report its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that WPX Energy will report full year sales of $384.23 million for the current year, with estimates ranging from $1.26 billion to $1.62 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.92 billion per share, with estimates ranging from $1.68 billion to $2.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for WPX Energy.
WPX Energy (NYSE:WPX) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. 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 the consensus estimate of $334.38 million. During the same quarter last year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year.
Several research analysts have weighed in on WPX shares. ValuEngine raised WPX Energy from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $17.00 price target (up previously from $16.00) on shares of WPX Energy in a research report on Thursday, August 24th. BidaskClub raised WPX Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Stifel Nicolaus set a $19.00 price target on WPX Energy and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Barclays PLC set a $10.00 price target on WPX Energy and gave the stock a “hold” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. WPX Energy presently has an average rating of “Buy” and a consensus price target of $15.29.
In other WPX Energy news, insider Clay M. Gaspar sold 35,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $10.48, for a total value of $366,800.00. Following the transaction, the insider now directly owns 506,326 shares of the company’s stock, valued at approximately $5,306,296.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings 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 buying an additional 412,663 shares in the last quarter. BlackRock Inc. grew its holdings 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 buying an additional 188,749 shares in the last quarter. State Street Corp grew its holdings 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 buying an additional 1,272,719 shares in the last quarter. FMR LLC grew its holdings 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 buying an additional 2,244,508 shares in the last quarter. Finally, Shapiro Capital Management LLC grew its holdings 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 buying an additional 177,625 shares in the last quarter. 97.89% of the stock is currently owned by hedge funds and other institutional investors.
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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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