Seaport Global Securities lowered shares of WPX Energy, Inc. (NYSE:WPX) from a buy rating to a sell rating in a research note published on Wednesday morning, Marketbeat.com reports. The firm currently has $6.50 price objective on the oil and gas producer’s stock, down from their prior price objective of $17.00.
Several other analysts also recently weighed in on WPX. Robert W. Baird set a $16.00 target price on WPX Energy and gave the stock a buy rating in a research report on Wednesday, June 14th. BidaskClub downgraded WPX Energy from a sell rating to a strong sell rating in a research report on Tuesday, June 20th. Scotiabank reiterated a buy rating and set a $20.00 target price on shares of WPX Energy in a research report on Tuesday, June 13th. Wolfe Research initiated coverage on WPX Energy in a report on Thursday, June 15th. They issued an outperform rating and a $13.50 price objective for the company. Finally, Zacks Investment Research downgraded WPX Energy from a buy rating to a hold rating in a report on Monday, February 27th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $16.09.
Shares of WPX Energy (NYSE WPX) traded up 0.802% on Wednesday, reaching $9.425. 2,152,708 shares of the company’s stock traded hands. The stock has a 50-day moving average of $11.18 and a 200 day moving average of $12.89. The firm’s market cap is $3.75 billion. WPX Energy has a 12-month low of $8.23 and a 12-month high of $16.17.
WPX Energy (NYSE:WPX) last released its earnings results on Wednesday, May 3rd. The oil and gas producer reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.02. WPX Energy had a negative return on equity of 7.13% and a negative net margin of 52.99%. The business had revenue of $461 million during the quarter, compared to the consensus estimate of $254.24 million. On average, equities research analysts expect that WPX Energy will post ($0.55) earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of WPX Energy by 20.4% in the first quarter. Vanguard Group Inc. now owns 33,141,235 shares of the oil and gas producer’s stock worth $443,761,000 after buying an additional 5,610,066 shares in the last quarter. BlackRock Inc. increased its position in shares of WPX Energy by 13,729.5% in the first quarter. BlackRock Inc. now owns 32,202,448 shares of the oil and gas producer’s stock worth $431,192,000 after buying an additional 31,969,595 shares in the last quarter. State Street Corp increased its position in shares of WPX Energy by 13.4% in the first quarter. State Street Corp now owns 13,419,044 shares of the oil and gas producer’s stock worth $179,682,000 after buying an additional 1,586,531 shares in the last quarter. FMR LLC increased its position in shares of WPX Energy by 4.9% in the first quarter. FMR LLC now owns 10,146,141 shares of the oil and gas producer’s stock worth $135,857,000 after buying an additional 476,820 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of WPX Energy by 36.8% in the first quarter. Jennison Associates LLC now owns 8,383,200 shares of the oil and gas producer’s stock worth $112,251,000 after buying an additional 2,255,271 shares in the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.
About WPX Energy
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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