WPX Energy, Inc. (NYSE:WPX) was upgraded by equities research analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a report issued on Thursday, Marketbeat reports. The brokerage presently has a $14.00 target price on the oil and gas producer’s stock, down from their prior target price of $15.00. Cowen and Company’s price target would suggest a potential upside of 49.73% from the stock’s previous close.
Several other analysts have also issued reports on WPX. FBR & Co reissued a “buy” rating on shares of WPX Energy in a research report on Wednesday, February 22nd. Scotiabank reaffirmed a “buy” rating and set a $23.00 target price on shares of WPX Energy in a report on Thursday, February 23rd. Zacks Investment Research lowered shares of WPX Energy from a “buy” rating to a “hold” rating in a report on Monday, February 27th. Seaport Global Securities raised shares of WPX Energy from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Finally, Stifel Nicolaus started coverage on shares of WPX Energy in a report on Wednesday, April 12th. They set a “buy” rating and a $21.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $16.09.
WPX Energy (NYSE:WPX) opened at 9.35 on Thursday. The firm’s 50 day moving average is $11.18 and its 200-day moving average is $12.89. WPX Energy has a 12 month low of $8.23 and a 12 month high of $16.17. The firm’s market cap is $3.72 billion.
WPX Energy (NYSE:WPX) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.02. WPX Energy had a negative net margin of 52.99% and a negative return on equity of 7.13%. The company had revenue of $461 million for the quarter, compared to analyst estimates of $254.24 million. On average, equities analysts forecast that WPX Energy will post ($0.55) EPS for the current year.
ILLEGAL ACTIVITY WARNING: “Cowen and Company Upgrades WPX Energy, Inc. (WPX) to “Outperform”” was originally reported by sleekmoney and is the sole property of of sleekmoney. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://sleekmoney.com/cowen-and-company-upgrades-wpx-energy-inc-wpx-to-outperform/1940580.html.
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in WPX Energy by 20.4% in the first quarter. Vanguard Group Inc. now owns 33,141,235 shares of the oil and gas producer’s stock worth $443,761,000 after buying an additional 5,610,066 shares in the last quarter. BlackRock Inc. boosted its position in WPX Energy by 13,729.5% in the first quarter. BlackRock Inc. now owns 32,202,448 shares of the oil and gas producer’s stock worth $431,192,000 after buying an additional 31,969,595 shares in the last quarter. State Street Corp boosted its position in WPX Energy by 13.4% in the first quarter. State Street Corp now owns 13,419,044 shares of the oil and gas producer’s stock worth $179,682,000 after buying an additional 1,586,531 shares in the last quarter. FMR LLC boosted its position in WPX Energy by 4.9% in the first quarter. FMR LLC now owns 10,146,141 shares of the oil and gas producer’s stock worth $135,857,000 after buying an additional 476,820 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in WPX Energy by 36.8% in the first quarter. Jennison Associates LLC now owns 8,383,200 shares of the oil and gas producer’s stock worth $112,251,000 after buying an additional 2,255,271 shares in the last quarter. 94.98% of the stock is owned by institutional investors and hedge funds.
About WPX Energy
WPX Energy, Inc is an oil and natural gas exploration and production company. The Company is engaged in the exploitation and development of unconventional properties. It operates in the exploration and production segment of the oil and gas industry and its operations are conducted in the United States.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/cowen-and-company-upgrades-wpx-energy-inc-wpx-to-outperform/1940580.html
Receive News & Ratings for WPX Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WPX Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.