Published On: Wed, Sep 7th, 2016

BMO Capital Markets Reiterates Hold Rating for WPX Energy Inc. (WPX)

WPX Energy Inc. (NYSE:WPX)‘s stock had its “hold” rating reissued by equities researchers at BMO Capital Markets in a note issued to investors on Wednesday. They presently have a $13.00 price objective on the stock. BMO Capital Markets’ price objective points to a potential downside of 3.13% from the company’s previous close.
Shares of WPX Energy (NYSE:WPX) opened at 13.42 on Wednesday. The firm’s market cap is $4.62 billion. WPX Energy has a 12-month low of $2.53 and a 12-month high of $13.47. The firm’s 50-day moving average price is $10.82 and its 200 day moving average price is $8.85.
WPX Energy (NYSE:WPX) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by $0.07. The business earned $138 million during the quarter, compared to analysts’ expectations of $252.14 million. During the same period in the prior year, the company earned ($0.11) EPS. WPX Energy’s quarterly revenue was down 10.4% on a year-over-year basis. On average, equities analysts expect that WPX Energy will post ($0.80) earnings per share for the current fiscal year.

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In other news, VP Stephen L. Faulkner, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $9.88, for a total transaction of $49,400.00. Following the sale, the vice president now owns 35,754 shares of the company’s stock, valued at $353,249.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Other large investors have added to or reduced their stakes in the company. Norges Bank acquired a new stake in WPX Energy during the fourth quarter worth approximately $15,215,000. Wellington Management Group LLP raised its stake in WPX Energy by 28.4% in the first quarter. Wellington Management Group LLP now owns 10,163,567 shares of the company’s stock worth $71,044,000 after buying an additional 2,248,105 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in WPX Energy by 13.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,589,684 shares of the company’s stock worth $53,052,000 after buying an additional 917,948 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new stake in WPX Energy during the second quarter worth approximately $6,209,000. Finally, Dalton Greiner Hartman Maher & Co. raised its stake in WPX Energy by 64.3% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 1,314,593 shares of the company’s stock worth $12,239,000 after buying an additional 514,593 shares in the last quarter.
Several other research analysts have also issued reports on the company. Imperial Capital increased their price objective on WPX Energy from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, June 23rd. Robert W. Baird upgraded WPX Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $8.00 to $12.00 in a research note on Thursday, July 21st. Goldman Sachs Group upgraded WPX Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $10.50 to $14.75 in a report on Wednesday, July 6th. Barclays PLC increased their target price on WPX Energy from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Thursday, July 14th. Finally, Zacks Investment Research cut WPX Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. WPX Energy presently has a consensus rating of “Buy” and a consensus price target of $10.51.
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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