CIBC Asset Management Inc reduced its holdings in shares of WPX Energy Inc (NYSE:WPX) by 13.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,302 shares of the oil and gas producer’s stock after selling 8,255 shares during the period. CIBC Asset Management Inc’s holdings in WPX Energy were worth $543,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Phocas Financial Corp. bought a new position in WPX Energy during the second quarter valued at approximately $31,000. Spectrum Management Group Inc. bought a new position in WPX Energy during the second quarter valued at approximately $115,000. Capital Investment Advisors LLC bought a new position in WPX Energy during the second quarter valued at approximately $116,000. Commonwealth Equity Services LLC bought a new position in WPX Energy during the second quarter valued at approximately $123,000. Finally, BB&T Securities LLC grew its position in WPX Energy by 20.2% during the third quarter. BB&T Securities LLC now owns 12,045 shares of the oil and gas producer’s stock valued at $127,000 after acquiring an additional 2,024 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.
WPX has been the topic of a number of recent research reports. Cowen set a $14.00 price target on shares of WPX Energy and gave the company a “buy” rating in a research report on Wednesday, August 21st. Barclays set a $14.00 price target on shares of WPX Energy and gave the company a “buy” rating in a research report on Friday, August 30th. Cfra reiterated a “buy” rating and set a $11.00 price target on shares of WPX Energy in a research report on Wednesday, September 25th. Imperial Capital increased their price target on shares of WPX Energy from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Citigroup reduced their price target on shares of WPX Energy from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Two analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $16.69.
WPX Energy (NYSE:WPX) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The company had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $623.75 million. WPX Energy had a net margin of 25.50% and a return on equity of 2.39%. The business’s revenue for the quarter was up 64.3% compared to the same quarter last year. During the same period last year, the company posted $0.07 EPS. Research analysts predict that WPX Energy Inc will post 0.34 EPS for the current year.
WPX Energy Company Profile
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 operates 657 wells and owns interests in 808 wells covering an area of approximately 130,000 net acres located in Delaware Basin, Texas and New Mexico; and operates 323 wells and owns interests in 87 wells that covers an area of approximately 85,087 net acres situated in the Williston Basin, North Dakota.
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