KLR Group Reiterates Buy Rating for WPX Energy (WPX)

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WPX Energy (NYSE:WPX)‘s stock had its “buy” rating reiterated by research analysts at KLR Group in a note issued to investors on Monday. They currently have a $27.00 price objective on the oil and gas producer’s stock. KLR Group’s price objective suggests a potential upside of 50.00% from the company’s previous close.

Several other research firms have also weighed in on WPX. Stifel Nicolaus raised their price objective on WPX Energy from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, June 20th. US Capital Advisors started coverage on WPX Energy in a research note on Monday, July 2nd. They set a “buy” rating for the company. ValuEngine raised WPX Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Northland Securities set a $26.00 price objective on WPX Energy and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, JPMorgan Chase & Co. raised their price objective on WPX Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 23rd. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.96.

WPX opened at $18.00 on Monday. WPX Energy has a 12 month low of $9.38 and a 12 month high of $19.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.55 and a current ratio of 0.58. The company has a market capitalization of $7.40 billion, a P/E ratio of -42.86 and a beta of 2.30.

WPX Energy (NYSE:WPX) last posted its earnings results on Wednesday, August 1st. The oil and gas producer reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. WPX Energy had a negative return on equity of 0.97% and a negative net margin of 30.02%. The firm had revenue of $430.00 million for the quarter, compared to analysts’ expectations of $432.92 million. During the same period last year, the firm earned $0.18 EPS. The firm’s revenue was up 22.9% compared to the same quarter last year. research analysts expect that WPX Energy will post 0.21 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in WPX Energy by 0.7% during the second quarter. BlackRock Inc. now owns 33,662,137 shares of the oil and gas producer’s stock valued at $606,928,000 after buying an additional 225,174 shares in the last quarter. Jennison Associates LLC raised its holdings in WPX Energy by 2.5% during the second quarter. Jennison Associates LLC now owns 11,440,094 shares of the oil and gas producer’s stock valued at $206,265,000 after buying an additional 281,476 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in WPX Energy by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,606,150 shares of the oil and gas producer’s stock valued at $119,115,000 after buying an additional 98,950 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in WPX Energy by 51.5% during the first quarter. Thrivent Financial for Lutherans now owns 5,833,177 shares of the oil and gas producer’s stock valued at $86,214,000 after buying an additional 1,982,615 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in WPX Energy by 267.7% during the second quarter. Point72 Asset Management L.P. now owns 4,070,164 shares of the oil and gas producer’s stock valued at $73,385,000 after buying an additional 2,963,264 shares in the last quarter. Institutional investors own 98.27% of the company’s stock.

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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