WPX Energy (WPX) Expected to Post Quarterly Sales of $438.75 Million

Wall Street brokerages predict that WPX Energy (NYSE:WPX) will post $438.75 million in sales for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for WPX Energy’s earnings, with estimates ranging from $393.00 million to $526.00 million. WPX Energy reported sales of $413.00 million in the same quarter last year, which indicates a positive year over year growth rate of 6.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 1st.

On average, analysts expect that WPX Energy will report full-year sales of $1.80 billion for the current year, with estimates ranging from $1.60 billion to $2.16 billion. For the next year, analysts anticipate that the firm will report sales of $2.46 billion per share, with estimates ranging from $2.13 billion to $2.80 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for WPX Energy.

WPX Energy (NYSE:WPX) last issued its quarterly earnings data on Wednesday, May 2nd. The oil and gas producer reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). WPX Energy had a negative return on equity of 2.99% and a negative net margin of 17.85%. The business had revenue of $374.00 million during the quarter, compared to analysts’ expectations of $367.86 million. During the same period in the previous year, the business earned ($0.15) earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis.

WPX has been the subject of a number of recent research reports. SunTrust Banks set a $22.00 price objective on shares of WPX Energy and gave the stock a “buy” rating in a research note on Monday, April 16th. ValuEngine raised shares of WPX Energy from a “sell” rating to a “hold” rating in a research note on Friday, April 13th. Northland Securities reissued a “buy” rating and issued a $20.00 price objective on shares of WPX Energy in a research note on Tuesday, February 27th. Piper Jaffray Companies raised shares of WPX Energy from a “neutral” rating to an “overweight” rating and set a $17.00 price objective for the company in a research note on Wednesday, April 11th. Finally, TheStreet raised shares of WPX Energy from a “d+” rating to a “c-” rating in a research note on Thursday, March 1st. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. WPX Energy currently has an average rating of “Buy” and a consensus price target of $19.75.

Shares of WPX Energy opened at $18.21 on Friday, MarketBeat Ratings reports. WPX Energy has a 52 week low of $8.39 and a 52 week high of $19.23. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of -43.36 and a beta of 2.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.26 and a quick ratio of 1.22.

In other WPX Energy news, insider Clay M. Gaspar sold 55,000 shares of the business’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $18.03, for a total value of $991,650.00. Following the completion of the sale, the insider now directly owns 519,590 shares of the company’s stock, valued at approximately $9,368,207.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO J Kevin Vann sold 15,000 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $18.06, for a total transaction of $270,900.00. Following the completion of the sale, the chief financial officer now directly owns 355,519 shares of the company’s stock, valued at $6,420,673.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,100 shares of company stock valued at $2,518,797. 1.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH purchased a new stake in WPX Energy in the 1st quarter valued at about $5,648,000. Principal Financial Group Inc. boosted its position in WPX Energy by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,741,448 shares of the oil and gas producer’s stock valued at $25,738,000 after buying an additional 50,278 shares during the period. CIBC World Markets Inc. purchased a new stake in WPX Energy in the 1st quarter valued at about $719,000. Tortoise Capital Advisors L.L.C. boosted its position in WPX Energy by 9.0% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 703,711 shares of the oil and gas producer’s stock valued at $10,401,000 after buying an additional 57,818 shares during the period. Finally, PointState Capital LP purchased a new stake in WPX Energy in the 1st quarter valued at about $14,409,000. 97.44% of the stock is owned by institutional investors.

About WPX Energy

WPX Energy, Inc, an independent oil and natural gas exploration and production company, engages in the exploitation and development of unconventional properties in the United States. The company's principal areas of operation include the Delaware Basin in Texas and New Mexico; the Williston Basin in North Dakota; and the San Juan Basin in New Mexico and Colorado.

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Earnings History and Estimates for WPX Energy (NYSE:WPX)

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