WPX Energy (NYSE:WPX) Shares Gap Down to $9.36

WPX Energy Inc (NYSE:WPX)’s share price gapped down prior to trading on Friday . The stock had previously closed at $8.62, but opened at $9.36. WPX Energy shares last traded at $9.35, with a volume of 109,849 shares changing hands.

Several equities research analysts have issued reports on the stock. SunTrust Banks set a $21.00 price target on shares of WPX Energy and gave the company a “buy” rating in a report on Tuesday, April 23rd. Williams Capital reissued a “buy” rating and issued a $18.00 price target on shares of WPX Energy in a report on Monday, July 22nd. MKM Partners assumed coverage on shares of WPX Energy in a report on Thursday, June 13th. They issued a “buy” rating and a $15.00 price target on the stock. TheStreet lowered shares of WPX Energy from a “b-” rating to a “c” rating in a report on Thursday, May 2nd. Finally, TD Securities lowered their price target on shares of WPX Energy from $19.00 to $18.50 and set a “buy” rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.76.

The business has a 50-day moving average price of $10.72. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 104.89, a price-to-earnings-growth ratio of 0.97 and a beta of 2.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.64 and a current ratio of 0.70.

WPX Energy (NYSE:WPX) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The business had revenue of $359.00 million for the quarter, compared to the consensus estimate of $547.79 million. WPX Energy had a net margin of 9.50% and a return on equity of 2.15%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. Research analysts predict that WPX Energy Inc will post 0.35 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of WPX. Norges Bank acquired a new position in WPX Energy during the 4th quarter worth about $32,726,000. Benefit Street Partners LLC lifted its position in WPX Energy by 556.8% during the 1st quarter. Benefit Street Partners LLC now owns 1,110,000 shares of the oil and gas producer’s stock worth $14,552,000 after buying an additional 1,353,000 shares in the last quarter. Neuberger Berman Group LLC lifted its position in WPX Energy by 10.4% during the 1st quarter. Neuberger Berman Group LLC now owns 11,825,874 shares of the oil and gas producer’s stock worth $155,038,000 after buying an additional 1,116,833 shares in the last quarter. Marshall Wace North America L.P. lifted its position in WPX Energy by 288.5% during the 1st quarter. Marshall Wace North America L.P. now owns 1,235,285 shares of the oil and gas producer’s stock worth $16,193,000 after buying an additional 917,319 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in WPX Energy by 19.4% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,130,236 shares of the oil and gas producer’s stock worth $41,037,000 after buying an additional 507,596 shares in the last quarter. Institutional investors and hedge funds own 98.23% of the company’s stock.

About WPX Energy (NYSE:WPX)

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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