WPX Energy Inc (NYSE:WPX) – Equities researchers at B. Riley lowered their Q4 2018 EPS estimates for WPX Energy in a report issued on Wednesday, November 21st. B. Riley analyst R. Rashid now anticipates that the oil and gas producer will post earnings per share of $0.04 for the quarter, down from their prior estimate of $0.06. B. Riley also issued estimates for WPX Energy’s Q1 2019 earnings at $0.07 EPS, Q2 2019 earnings at $0.07 EPS, Q3 2019 earnings at $0.08 EPS and Q4 2019 earnings at $0.10 EPS.
Several other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of WPX Energy from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Wednesday, October 3rd. Wells Fargo & Co started coverage on shares of WPX Energy in a report on Tuesday, October 23rd. They issued an “outperform” rating and a $27.00 target price on the stock. Jefferies Financial Group started coverage on shares of WPX Energy in a report on Friday, September 28th. They issued a “buy” rating and a $28.00 target price on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $25.00 target price on shares of WPX Energy in a report on Thursday, October 11th. Finally, Bank of America upped their target price on shares of WPX Energy from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $22.93.
WPX Energy (NYSE:WPX) last posted its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.02). WPX Energy had a positive return on equity of 0.76% and a negative net margin of 15.79%. The firm had revenue of $484.00 million during the quarter, compared to the consensus estimate of $514.08 million. During the same period in the previous year, the company posted ($0.10) EPS. The firm’s revenue for the quarter was up 233.8% compared to the same quarter last year.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of WPX Energy by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 36,939,299 shares of the oil and gas producer’s stock valued at $743,219,000 after purchasing an additional 1,847,610 shares during the last quarter. BlackRock Inc. boosted its stake in shares of WPX Energy by 1.2% in the 3rd quarter. BlackRock Inc. now owns 34,053,879 shares of the oil and gas producer’s stock valued at $685,165,000 after purchasing an additional 391,742 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of WPX Energy by 2.5% in the 2nd quarter. Jennison Associates LLC now owns 11,440,094 shares of the oil and gas producer’s stock valued at $206,265,000 after purchasing an additional 281,476 shares during the last quarter. FMR LLC boosted its stake in shares of WPX Energy by 3.8% in the 3rd quarter. FMR LLC now owns 8,621,856 shares of the oil and gas producer’s stock valued at $173,472,000 after purchasing an additional 316,801 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of WPX Energy by 4.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,910,933 shares of the oil and gas producer’s stock valued at $139,034,000 after purchasing an additional 304,783 shares during the last quarter. 94.57% of the stock is currently owned by hedge funds and other 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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