WPX Energy Inc. (WPX) Shares Up 4%
WPX Energy Inc. (NYSE:WPX) shot up 4% on Thursday . The stock traded as high as $9.69 and last traded at $9.60, with a volume of 5,115,227 shares trading hands. The stock had previously closed at $9.23.
WPX has been the subject of several research reports. Citigroup Inc. reduced their target price on WPX Energy from $11.00 to $7.50 and set a “neutral” rating for the company in a research report on Monday, May 16th. Seaport Global Securities cut WPX Energy from a “reduce” rating to a “sell” rating and set a $5.00 target price for the company. in a research report on Thursday, March 31st. Zacks Investment Research raised WPX Energy from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Thursday, June 30th. Imperial Capital raised their target price on WPX Energy from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, June 23rd. Finally, Barclays PLC raised their target price on WPX Energy from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $10.28.
The company’s market cap is $2.64 billion. The stock has a 50-day moving average price of $9.67 and a 200 day moving average price of $7.51.
WPX Energy (NYSE:WPX) last released its earnings results on Thursday, May 5th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company had revenue of $216 million for the quarter, compared to the consensus estimate of $307.41 million. The business’s revenue was down 48.6% compared to the same quarter last year. On average, equities analysts expect that WPX Energy Inc. will post ($0.70) EPS for the current year.
In other news, VP Stephen L. Faulkner, Jr. sold 5,000 shares of the business’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $9.88, for a total transaction of $49,400.00. Following the completion of the transaction, the vice president now owns 35,754 shares of the company’s stock, valued at approximately $353,249.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard E. Muncrief purchased 20,400 shares of the stock in a transaction dated Monday, June 6th. The shares were acquired at an average cost of $9.80 per share, with a total value of $199,920.00. Following the acquisition, the chief executive officer now directly owns 732,481 shares in the company, valued at approximately $7,178,313.80. The disclosure for this purchase can be found here.
Several institutional investors have bought and sold shares of the company. Jennison Associates LLC acquired a new position in WPX Energy during the fourth quarter worth approximately $16,759,000. OppenheimerFunds Inc. boosted its position in WPX Energy by 338.7% in the fourth quarter. OppenheimerFunds Inc. now owns 2,676,074 shares of the company’s stock worth $15,361,000 after buying an additional 2,066,061 shares during the period. Victory Capital Management Inc. boosted its position in WPX Energy by 31.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,730,649 shares of the company’s stock worth $27,154,000 after buying an additional 1,142,759 shares during the period. Systematic Financial Management LP boosted its position in WPX Energy by 9.6% in the fourth quarter. Systematic Financial Management LP now owns 7,889,070 shares of the company’s stock worth $45,283,000 after buying an additional 690,534 shares during the period. Finally, Poplar Forest Capital LLC boosted its position in WPX Energy by 11.6% in the fourth quarter. Poplar Forest Capital LLC now owns 2,503,130 shares of the company’s stock worth $14,368,000 after buying an additional 260,593 shares during the period.
WPX Energy, Inc is an independent oil and natural gas exploration and production company. The Company is engaged in the exploitation and development of long-life unconventional properties. It is engaged in the domestic development, production and gas management activities of oil, natural gas and natural gas liquids (NGLs) segment.
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