Bank of America Increases WPX Energy (WPX) Price Target to $17.00

WPX Energy (NYSE:WPX) had its price objective raised by stock analysts at Bank of America from $16.00 to $17.00 in a research note issued to investors on Tuesday, November 14th. The firm currently has a “buy” rating on the oil and gas producer’s stock. Bank of America’s target price would indicate a potential upside of 29.97% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Northland Securities set a $20.00 price objective on shares of WPX Energy and gave the stock a “buy” rating in a research report on Monday, July 17th. Stifel Nicolaus set a $17.00 target price on shares of WPX Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. BMO Capital Markets set a $13.00 target price on shares of WPX Energy and gave the stock a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research raised shares of WPX Energy from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, October 12th. Finally, SunTrust Banks set a $14.00 price objective on shares of WPX Energy and gave the company a “buy” rating in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the stock. WPX Energy has a consensus rating of “Buy” and a consensus price target of $15.92.

WPX Energy (NYSE:WPX) traded up $0.41 during trading on Tuesday, hitting $13.08. 8,772,452 shares of the stock traded hands, compared to its average volume of 6,245,228. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 0.95. WPX Energy has a 12-month low of $8.39 and a 12-month high of $15.91.

WPX Energy (NYSE:WPX) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. WPX Energy had a negative net margin of 12.65% and a negative return on equity of 5.20%. The firm had revenue of $224.00 million during the quarter, compared to analyst estimates of $334.38 million. During the same quarter last year, the business earned ($0.17) EPS. The business’s revenue was down 10.8% on a year-over-year basis. research analysts forecast that WPX Energy will post -0.46 EPS for the current year.

In other news, insider Clay M. Gaspar sold 35,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $10.48, for a total transaction of $366,800.00. Following the sale, the insider now owns 506,326 shares of the company’s stock, valued at $5,306,296.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in WPX. Capital Advisors Inc. OK raised its stake in shares of WPX Energy by 2.0% during the 2nd quarter. Capital Advisors Inc. OK now owns 10,337 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 200 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of WPX Energy during the 2nd quarter worth $113,000. Financial Counselors Inc. raised its stake in shares of WPX Energy by 9.0% during the 2nd quarter. Financial Counselors Inc. now owns 12,111 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in WPX Energy by 12.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,857 shares of the oil and gas producer’s stock valued at $134,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Commonwealth Equity Services Inc acquired a new position in WPX Energy in the 3rd quarter valued at about $137,000. 99.79% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for WPX Energy (NYSE:WPX)

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