WPX Energy (NYSE:WPX)‘s stock had its “buy” rating restated by stock analysts at Scotiabank in a research note issued on Thursday. They presently have a $26.00 price objective on the oil and gas producer’s stock. Scotiabank’s price target would suggest a potential upside of 32.52% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Bank of America increased their target price on WPX Energy from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Stifel Nicolaus restated a “buy” rating and set a $26.00 price target on shares of WPX Energy in a research note on Thursday, August 30th. Raymond James upgraded WPX Energy from an “outperform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Monday, August 6th. Northland Securities set a $26.00 price target on WPX Energy and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, KLR Group restated a “buy” rating and set a $27.00 price target on shares of WPX Energy in a research note on Monday, August 20th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. WPX Energy has a consensus rating of “Buy” and an average price target of $22.20.

NYSE WPX traded up $0.42 during trading hours on Thursday, hitting $19.62. 168,498 shares of the company’s stock were exchanged, compared to its average volume of 4,929,719. WPX Energy has a 12-month low of $9.90 and a 12-month high of $19.78. The company has a market capitalization of $8.14 billion, a PE ratio of -46.71 and a beta of 2.33. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.58.

WPX Energy (NYSE:WPX) last released its earnings results on Wednesday, August 1st. The oil and gas producer reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. WPX Energy had a negative return on equity of 0.97% and a negative net margin of 30.02%. The firm had revenue of $430.00 million for the quarter, compared to the consensus estimate of $432.92 million. During the same period in the prior year, the business posted $0.18 earnings per share. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. equities analysts predict that WPX Energy will post 0.2 EPS for the current year.

Several hedge funds have recently bought and sold shares of WPX. Point72 Asset Management L.P. grew its stake in shares of WPX Energy by 267.7% in the second 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 in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of WPX Energy in the first quarter valued at about $43,669,000. Van ECK Associates Corp grew its stake in shares of WPX Energy by 2,746.3% in the second 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 in the last quarter. Scout Investments Inc. acquired a new stake in shares of WPX Energy in the second quarter valued at about $35,397,000. Finally, Carillon Tower Advisers Inc. acquired a new stake in shares of WPX Energy in the second quarter valued at about $22,708,000. Institutional investors and hedge funds own 93.74% of the company’s stock.

WPX Energy Company Profile

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.

Further Reading: Hedge Funds

Analyst Recommendations for WPX Energy (NYSE:WPX)

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