WPX Energy Inc (NYSE:WPX) – Equities researchers at Jefferies Financial Group increased their Q2 2019 earnings estimates for WPX Energy in a note issued to investors on Monday, April 22nd. Jefferies Financial Group analyst T. Hughes now anticipates that the oil and gas producer will post earnings per share of $0.06 for the quarter, up from their prior estimate of $0.05. Jefferies Financial Group has a “Buy” rating and a $23.00 price objective on the stock.
Several other brokerages also recently commented on WPX. SunTrust Banks set a $21.00 price objective on shares of WPX Energy and gave the company a “buy” rating in a research report on Tuesday. KeyCorp raised their price objective on shares of WPX Energy from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday. Piper Jaffray Companies set a $16.00 price objective on shares of WPX Energy and gave the company a “buy” rating in a research report on Friday, April 5th. Williams Capital restated a “buy” rating and set a $21.00 price objective on shares of WPX Energy in a research report on Thursday, February 21st. Finally, Northland Securities restated a “buy” rating and set a $20.00 price objective on shares of WPX Energy in a research report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.73.
WPX Energy (NYSE:WPX) last announced its quarterly earnings data on Wednesday, February 20th. The oil and gas producer reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.03). The firm had revenue of $554.00 million for the quarter, compared to the consensus estimate of $550.84 million. WPX Energy had a net margin of 6.54% and a return on equity of 1.09%. The firm’s revenue for the quarter was up 55.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of WPX. Massachusetts Financial Services Co. MA purchased a new position in WPX Energy during the fourth quarter valued at $52,591,000. Norges Bank purchased a new position in shares of WPX Energy in the 4th quarter worth $32,726,000. Diamond Hill Capital Management Inc. purchased a new position in shares of WPX Energy in the 4th quarter worth $29,767,000. LSP Investment Advisors LLC purchased a new position in shares of WPX Energy in the 4th quarter worth $27,027,000. Finally, Perella Weinberg Partners Capital Management LP grew its stake in shares of WPX Energy by 98.3% in the 4th quarter. Perella Weinberg Partners Capital Management LP now owns 4,077,125 shares of the oil and gas producer’s stock worth $64,308,000 after buying an additional 2,020,989 shares in the last quarter. 96.83% 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 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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