WPX Energy (NYSE:WPX) – Stock analysts at Seaport Global Securities lifted their Q2 2018 earnings per share estimates for shares of WPX Energy in a research report issued on Wednesday, May 23rd. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will post earnings per share of ($0.02) for the quarter, up from their prior forecast of ($0.04). Seaport Global Securities currently has a “Buy” rating and a $25.00 price objective on the stock. Seaport Global Securities also issued estimates for WPX Energy’s Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.05 EPS, FY2018 earnings at $0.00 EPS, Q1 2019 earnings at $0.15 EPS, Q2 2019 earnings at $0.15 EPS, Q3 2019 earnings at $0.14 EPS, Q4 2019 earnings at $0.14 EPS and FY2019 earnings at $0.58 EPS.
WPX has been the subject of a number of other reports. 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 research note on Wednesday, April 11th. Robert W. Baird boosted their target price on shares of WPX Energy from $17.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Deutsche Bank began coverage on WPX Energy in a report on Thursday, February 1st. They issued a “buy” rating and a $19.00 price objective for the company. Stifel Nicolaus set a $29.00 price objective on WPX Energy and gave the company a “buy” rating in a report on Wednesday, March 28th. Finally, National Alliance Securities upgraded WPX Energy from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Monday, April 9th. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.75.
Shares of WPX opened at $17.46 on Friday. The firm has a market cap of $7.27 billion, a PE ratio of -41.57 and a beta of 2.28. WPX Energy has a 12-month low of $8.39 and a 12-month high of $19.23. 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 issued its earnings results on Wednesday, May 2nd. The oil and gas producer reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.04). The company had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $367.86 million. WPX Energy had a negative net margin of 17.85% and a negative return on equity of 2.99%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) earnings per share.
In other WPX Energy news, VP Stephen L. Faulkner, Jr. sold 8,100 shares of the business’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $18.87, for a total value of $152,847.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Clay M. Gaspar sold 55,000 shares of the business’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $18.03, for a total transaction of $991,650.00. Following the completion of the transaction, the insider now owns 519,590 shares of the company’s stock, valued at $9,368,207.70. The disclosure for this sale can be found here. Insiders sold 138,100 shares of company stock valued at $2,518,797 over the last quarter. 1.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. bought a new position in WPX Energy in the fourth quarter worth about $114,000. Cerebellum GP LLC bought a new position in WPX Energy in the fourth quarter worth about $130,000. Avestar Capital LLC bought a new position in WPX Energy in the fourth quarter worth about $131,000. Bayesian Capital Management LP bought a new position in WPX Energy in the first quarter worth about $171,000. Finally, Capital Fund Management S.A. bought a new position in WPX Energy in the fourth quarter worth about $173,000. Institutional investors and hedge funds own 97.44% 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.
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