WPX Energy Inc. (WPX) Trading Up 11.1%
WPX Energy Inc. (NYSE:WPX) was up 11.1% during trading on Tuesday . The company traded as high as $10.68 and last traded at $10.62, with a volume of 5,091,182 shares changing hands. The stock had previously closed at $9.56.
A number of equities research analysts have commented on WPX shares. Goldman Sachs Group Inc. reissued a “hold” rating and issued a $7.25 target price (up previously from $6.75) on shares of WPX Energy in a report on Tuesday, March 29th. Wunderlich raised their target price on WPX Energy from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, May 6th. Seaport Global Securities downgraded WPX Energy from a “reduce” rating to a “sell” rating and set a $5.00 target price for the company. in a report on Wednesday, March 30th. BMO Capital Markets reissued a “hold” rating on shares of WPX Energy in a report on Monday, June 13th. Finally, Simmons raised their target price on WPX Energy from $6.00 to $7.00 in a report on Wednesday, March 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $9.88.
The stock has a 50 day moving average price of $9.82 and a 200 day moving average price of $7.16. The stock’s market capitalization is $2.89 billion.
WPX Energy (NYSE:WPX) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.05. The firm earned $216 million during the quarter, compared to analysts’ expectations of $307.41 million. The company’s revenue for the quarter was down 48.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 EPS. On average, equities analysts expect that WPX Energy Inc. will post ($0.70) earnings per share for the current fiscal year.
In related news, CEO Richard E. Muncrief bought 20,400 shares of the stock in a transaction on Monday, June 6th. The stock was bought at an average price of $9.80 per share, with a total value of $199,920.00. Following the completion of the purchase, the chief executive officer now directly owns 732,481 shares in the company, valued at approximately $7,178,313.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William G. Lowrie bought 10,000 shares of the stock in a transaction on Monday, June 6th. The shares were bought at an average cost of $9.80 per share, with a total value of $98,000.00. Following the purchase, the director now owns 237,076 shares of the company’s stock, valued at $2,323,344.80. The disclosure for this purchase can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in the company. Jennison Associates LLC bought a new position in shares of WPX Energy during the fourth quarter valued at $16,759,000. OppenheimerFunds Inc. raised its position in shares of WPX Energy by 338.7% in the fourth quarter. OppenheimerFunds Inc. now owns 2,676,074 shares of the company’s stock valued at $15,361,000 after buying an additional 2,066,061 shares during the period. Victory Capital Management Inc. raised its position in shares of WPX Energy by 31.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,730,649 shares of the company’s stock valued at $27,154,000 after buying an additional 1,142,759 shares during the period. Sei Investments Co. raised its position in shares of WPX Energy by 17,904.9% in the fourth quarter. Sei Investments Co. now owns 946,519 shares of the company’s stock valued at $5,433,000 after buying an additional 941,262 shares during the period. Finally, Systematic Financial Management LP raised its position in shares of WPX Energy by 9.6% in the fourth quarter. Systematic Financial Management LP now owns 7,889,070 shares of the company’s stock valued at $45,283,000 after buying an additional 690,534 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.