WPX Energy (WPX) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of WPX Energy (NYSE:WPX) from a buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Shares of WPX Energy have outperformed its industry in the past 12 months.  We believe WPX Energy’s exposure in the Delaware and Williston basins will enable it to achieve the goal of higher oil generation in 2018. WPX Energy has transformed itself from a natural gas-focused company to an oil-focused one. The company has been able to do so through nearly $8 billion of transactions. WPX Energy is building up a strong portfolio of assets which will continue to boost its oil production and allow it to gain from improving commodity prices. However, the competitive energy space, stringent regulations and dependence on third parties to market their products are the headwinds.”

Several other equities research analysts have also weighed in on the stock. Stifel Nicolaus increased their target price on shares of WPX Energy from $27.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, June 20th. US Capital Advisors started coverage on shares of WPX Energy in a report on Monday, July 2nd. They issued a buy rating on the stock. TD Securities started coverage on shares of WPX Energy in a report on Thursday, July 5th. They issued a buy rating and a $25.00 target price on the stock. Robert W. Baird reiterated a buy rating and issued a $25.00 target price on shares of WPX Energy in a report on Wednesday, August 1st. Finally, Bank of America increased their target price on shares of WPX Energy from $27.00 to $28.00 and gave the stock a buy rating in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $22.88.

Shares of NYSE WPX opened at $18.13 on Tuesday. WPX Energy has a fifty-two week low of $9.90 and a fifty-two week high of $20.80. The company has a market capitalization of $7.79 billion, a P/E ratio of -44.13 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 announced its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. WPX Energy had a negative net margin of 30.02% and a negative return on equity of 0.97%. The business had revenue of $430.00 million for the quarter, compared to analyst estimates of $432.92 million. During the same period in the prior year, the business posted $0.18 earnings per share. WPX Energy’s revenue was up 22.9% compared to the same quarter last year. Research analysts predict that WPX Energy will post 0.21 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Carillon Tower Advisers Inc. acquired a new stake in shares of WPX Energy during the second quarter worth $22,708,000. Renaissance Technologies LLC raised its holdings in shares of WPX Energy by 321.1% during the second quarter. Renaissance Technologies LLC now owns 1,310,600 shares of the oil and gas producer’s stock worth $23,630,000 after acquiring an additional 999,400 shares during the period. Stevens Capital Management LP grew its position in WPX Energy by 58.2% in the second quarter. Stevens Capital Management LP now owns 139,955 shares of the oil and gas producer’s stock valued at $2,523,000 after purchasing an additional 51,484 shares in the last quarter. Private Advisor Group LLC bought a new position in WPX Energy in the second quarter valued at $239,000. Finally, Cubist Systematic Strategies LLC grew its position in WPX Energy by 132.5% in the first quarter. Cubist Systematic Strategies LLC now owns 13,219 shares of the oil and gas producer’s stock valued at $195,000 after purchasing an additional 7,534 shares in the last quarter. Institutional investors and hedge funds own 93.71% 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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