WPX Energy Inc (WPX) Expected to Announce Quarterly Sales of $586.75 Million

Wall Street analysts expect that WPX Energy Inc (NYSE:WPX) will announce sales of $586.75 million for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have made estimates for WPX Energy’s earnings, with estimates ranging from $535.00 million to $667.00 million. WPX Energy posted sales of $439.00 million in the same quarter last year, which suggests a positive year over year growth rate of 33.7%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that WPX Energy will report full year sales of $1.92 billion for the current financial year, with estimates ranging from $1.71 billion to $2.32 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.66 billion, with estimates ranging from $2.41 billion to $3.43 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for WPX Energy.

WPX Energy (NYSE:WPX) last announced its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $484.00 million during the quarter, compared to analysts’ expectations of $514.08 million. WPX Energy had a negative net margin of 15.79% and a positive return on equity of 0.76%. The company’s revenue for the quarter was up 233.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) EPS.

Several research firms have recently commented on WPX. Stifel Nicolaus reiterated a “buy” rating and set a $26.00 price target on shares of WPX Energy in a report on Thursday, August 30th. Stephens began coverage on WPX Energy in a report on Thursday. They set an “overweight” rating and a $22.00 price target on the stock. ValuEngine lowered WPX Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded WPX Energy from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Monday, October 15th. Finally, Seaport Global Securities set a $28.00 price target on WPX Energy and gave the stock a “buy” rating in a report on Wednesday, October 3rd. Two investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $23.04.

WPX stock traded down $0.73 during midday trading on Monday, reaching $13.22. The stock had a trading volume of 615,482 shares, compared to its average volume of 6,257,732. WPX Energy has a 52-week low of $12.22 and a 52-week high of $20.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.47 and a current ratio of 0.51. The firm has a market capitalization of $5.86 billion, a P/E ratio of -31.48 and a beta of 2.40.

Large investors have recently modified their holdings of the stock. Hartford Financial Management Inc. acquired a new stake in shares of WPX Energy during the 2nd quarter worth about $108,000. Qube Research & Technologies Ltd acquired a new stake in shares of WPX Energy during the 2nd quarter worth about $108,000. Advisors Asset Management Inc. acquired a new stake in shares of WPX Energy during the 3rd quarter worth about $124,000. DekaBank Deutsche Girozentrale grew its position in WPX Energy by 321.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,237 shares of the oil and gas producer’s stock valued at $158,000 after acquiring an additional 6,281 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in WPX Energy in the 3rd quarter valued at about $159,000. 94.82% of the stock is 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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