Gagnon Securities LLC cut its stake in shares of WPX Energy (NYSE:WPX) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 732,632 shares of the oil and gas producer’s stock after selling 55,313 shares during the period. WPX Energy comprises approximately 3.9% of Gagnon Securities LLC’s holdings, making the stock its 7th largest position. Gagnon Securities LLC owned approximately 0.18% of WPX Energy worth $10,828,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of WPX Energy in the 4th quarter worth $114,000. Cerebellum GP LLC purchased a new stake in shares of WPX Energy in the 4th quarter worth $130,000. Avestar Capital LLC purchased a new stake in shares of WPX Energy in the 4th quarter worth $131,000. Capital Fund Management S.A. purchased a new stake in shares of WPX Energy in the 4th quarter worth $173,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of WPX Energy by 110.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,324 shares of the oil and gas producer’s stock worth $226,000 after purchasing an additional 8,031 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.
WPX Energy opened at $19.17 on Tuesday, according to MarketBeat. WPX Energy has a 52 week low of $8.39 and a 52 week high of $19.21. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of -45.64 and a beta of 2.28. The company has a quick ratio of 1.22, a current ratio of 1.26 and a debt-to-equity ratio of 0.68.
WPX Energy (NYSE:WPX) last released its quarterly earnings data on Wednesday, May 2nd. The oil and gas producer reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). WPX Energy had a negative net margin of 17.85% and a negative return on equity of 2.99%. The company had revenue of $374.00 million for the quarter, compared to the consensus estimate of $367.86 million. During the same period last year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. sell-side analysts forecast that WPX Energy will post 0.01 EPS for the current fiscal year.
In related news, insider Clay M. Gaspar sold 55,000 shares of the stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $18.03, for a total value of $991,650.00. Following the completion of the transaction, the insider now owns 519,590 shares of the company’s stock, valued at approximately $9,368,207.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Stephen L. Faulkner, Jr. sold 8,100 shares of the stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $18.87, for a total transaction of $152,847.00. The disclosure for this sale can be found here. Insiders have sold a total of 138,100 shares of company stock valued at $2,518,797 in the last three months. Insiders own 1.50% of the company’s stock.
Several research firms have recently commented on WPX. ValuEngine upgraded WPX Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Piper Jaffray Companies raised shares of WPX Energy from a “neutral” rating to an “overweight” rating and set a $17.00 target price for the company in a report on Wednesday, April 11th. SunTrust Banks set a $22.00 target price on shares of WPX Energy and gave the stock a “buy” rating in a report on Monday, April 16th. Imperial Capital reaffirmed an “outperform” rating and issued a $24.00 target price (up previously from $20.00) on shares of WPX Energy in a report on Friday, February 23rd. Finally, Robert W. Baird upped their target price on shares of WPX Energy from $17.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $18.57.
WPX Energy 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.
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