WPX Energy, Inc. (WPX) Receives “Hold” Rating from Piper Jaffray Companies
WPX Energy, Inc. (NYSE:WPX)‘s stock had its “hold” rating reissued by stock analysts at Piper Jaffray Companies in a note issued to investors on Wednesday. They presently have a $14.00 target price on the oil and gas producer’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 14.19% from the stock’s current price.
Several other brokerages also recently commented on WPX. BMO Capital Markets reaffirmed a “buy” rating and set a $16.00 target price on shares of WPX Energy in a report on Monday, November 6th. Barclays PLC raised WPX Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $14.00 in a research report on Tuesday, November 7th. Bank of America Corporation boosted their target price on WPX Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Citigroup Inc. raised WPX Energy from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Thursday, November 16th. Finally, Stifel Nicolaus set a $17.00 price objective on WPX Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. WPX Energy currently has a consensus rating of “Buy” and an average price target of $15.98.
Shares of WPX Energy (NYSE:WPX) opened at $12.26 on Wednesday. WPX Energy has a twelve month low of $8.39 and a twelve month high of $16.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.02.
WPX Energy (NYSE:WPX) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. WPX Energy had a negative return on equity of 5.20% and a negative net margin of 12.65%. 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 business posted ($0.17) EPS. WPX Energy’s revenue for the quarter was down 10.8% on a year-over-year basis. research analysts predict that WPX Energy will post -0.47 EPS for the current year.
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In other news, insider Clay M. Gaspar sold 35,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $10.48, for a total value of $366,800.00. Following the transaction, the insider now owns 506,326 shares of the company’s stock, valued at $5,306,296.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPX. Capital Advisors Inc. OK increased its stake in WPX Energy by 2.0% in the second quarter. Capital Advisors Inc. OK now owns 10,337 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 200 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in WPX Energy during the second quarter valued at about $113,000. Financial Counselors Inc. boosted its position in WPX Energy by 9.0% during the second quarter. Financial Counselors Inc. now owns 12,111 shares of the oil and gas producer’s stock valued at $117,000 after buying an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in WPX Energy by 12.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,857 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 1,540 shares during the period. Finally, Commonwealth Equity Services Inc purchased a new stake in WPX Energy during the third quarter valued at about $137,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.
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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