Principal Financial Group Inc. Has $9,722,000 Position in WPX Energy Inc. (WPX)
Principal Financial Group Inc. raised its position in shares of WPX Energy Inc. (NYSE:WPX) by 33.2% during the second quarter, Holdings Channel reports. The institutional investor owned 1,044,200 shares of the company’s stock after buying an additional 260,128 shares during the period. Principal Financial Group Inc. owned approximately 0.30% of WPX Energy worth $9,722,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cypress Capital Management LLC WY acquired a new position in shares of WPX Energy during the second quarter worth about $104,000. M&T Bank Corp raised its position in WPX Energy by 7.4% in the first quarter. M&T Bank Corp now owns 16,040 shares of the company’s stock worth $112,000 after buying an additional 1,105 shares during the last quarter. Neuberger Berman Group LLC purchased a new position in WPX Energy during the second quarter worth $120,000. World Asset Management Inc raised its position in WPX Energy by 21.4% in the second quarter. World Asset Management Inc now owns 13,664 shares of the company’s stock worth $127,000 after buying an additional 2,406 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in WPX Energy during the second quarter worth $134,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.
WPX Energy Inc. (NYSE:WPX) opened at 12.43 on Friday. The stock’s market cap is $4.28 billion. WPX Energy Inc. has a 1-year low of $2.53 and a 1-year high of $13.92. The firm has a 50-day moving average of $12.54 and a 200-day moving average of $10.19.
WPX Energy (NYSE:WPX) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.07. WPX Energy had a negative return on equity of 6.76% and a negative net margin of 142.42%. The business earned $138 million during the quarter, compared to the consensus estimate of $252.14 million. During the same quarter last year, the company earned ($0.11) EPS. WPX Energy’s revenue for the quarter was down 10.4% on a year-over-year basis. Analysts expect that WPX Energy Inc. will post ($0.81) EPS for the current fiscal year.
A number of research firms recently weighed in on WPX. Evercore ISI raised shares of WPX Energy from a “hold” rating to a “buy” rating and raised their price target for the company from $14.00 to $16.00 in a research report on Friday. FBR & Co began coverage on shares of WPX Energy in a research report on Tuesday, October 11th. They set an “outperform” rating and a $16.00 price target on the stock. Wunderlich raised their price target on shares of WPX Energy from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, October 3rd. Citigroup Inc. raised their price target on shares of WPX Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, September 12th. Finally, Susquehanna raised their price target on shares of WPX Energy from $15.00 to $18.00 and gave the company a “positive” rating in a research report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $11.73.
About WPX Energy
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.
Want to see what other hedge funds are holding WPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WPX Energy Inc. (NYSE:WPX).
Receive News & Ratings for WPX Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WPX Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.