Ninepoint Partners LP Purchases New Stake in WPX Energy, Inc. (WPX)
Ninepoint Partners LP purchased a new stake in WPX Energy, Inc. (NYSE:WPX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,175,000 shares of the oil and gas producer’s stock, valued at approximately $13,512,000. WPX Energy accounts for about 0.9% of Ninepoint Partners LP’s investment portfolio, making the stock its 23rd biggest holding. Ninepoint Partners LP owned approximately 0.30% of WPX Energy as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. 361 Capital LLC bought a new position in shares of WPX Energy in the third quarter valued at approximately $1,234,000. Commonwealth Equity Services Inc bought a new position in shares of WPX Energy in the third quarter valued at approximately $137,000. Bank of New York Mellon Corp raised its position in shares of WPX Energy by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 4,642,022 shares of the oil and gas producer’s stock valued at $53,382,000 after purchasing an additional 122,369 shares during the period. Rhumbline Advisers raised its position in shares of WPX Energy by 10.0% in the third quarter. Rhumbline Advisers now owns 773,644 shares of the oil and gas producer’s stock valued at $8,897,000 after purchasing an additional 70,545 shares during the period. Finally, CIBC Asset Management Inc bought a new position in WPX Energy during the third quarter worth $159,000. 98.76% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on the stock. Citigroup Inc. raised shares of WPX Energy from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Thursday. Bank of America Corporation boosted their target price on shares of WPX Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays PLC raised shares of WPX Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $14.00 in a research report on Tuesday, November 7th. BMO Capital Markets reaffirmed a “buy” rating and set a $16.00 target price on shares of WPX Energy in a research report on Monday, November 6th. Finally, SunTrust Banks, Inc. set a $14.00 target price on shares of WPX Energy and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $15.88.
In other news, insider Clay M. Gaspar sold 35,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $10.48, for a total value of $366,800.00. Following the sale, the insider now owns 506,326 shares in the company, valued at approximately $5,306,296.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.
Shares of WPX Energy, Inc. (WPX) traded down $0.17 during trading hours on Thursday, hitting $11.76. 5,070,900 shares of the stock traded hands, compared to its average volume of 7,504,630. WPX Energy, Inc. has a 52 week low of $8.39 and a 52 week high of $16.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.02.
WPX Energy (NYSE:WPX) last issued its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. WPX Energy had a negative net margin of 12.65% and a negative return on equity of 5.20%. The company had revenue of $224.00 million for the quarter, compared to the consensus estimate of $334.38 million. During the same quarter in the previous year, the company earned ($0.17) EPS. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. sell-side analysts forecast that WPX Energy, Inc. will post -0.48 EPS for the current year.
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WPX Energy Profile
WPX Energy, Inc is an oil and natural gas exploration and production company. The Company is engaged in the exploitation and development of unconventional properties. It operates in the exploration and production segment of the oil and gas industry and its operations are conducted in the United States.
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