The WPX Energy Inc. (WPX) Rating Increased to Buy at Evercore ISI

The WPX Energy Inc. (WPX) Rating Increased to Buy at Evercore ISI

WPX Energy Inc. (NYSE:WPX) was upgraded by equities researchers at Evercore ISI from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $16.00 price objective on the stock, up from their previous price objective of $14.00. Evercore ISI’s price target indicates a potential upside of 28.82% from the company’s previous close.

A number of other equities research analysts have also issued reports on WPX. BMO Capital Markets reaffirmed a “hold” rating and set a $13.00 target price on shares of WPX Energy in a research report on Wednesday, September 7th. FBR & Co started coverage on WPX Energy in a research report on Tuesday, October 11th. They set an “outperform” rating and a $16.00 price target on the stock. Barclays PLC upped their price target on WPX Energy from $6.00 to $7.50 and gave the company an “underweight” rating in a research report on Monday, August 8th. Zacks Investment Research raised WPX Energy from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, June 30th. Finally, Susquehanna upped their price target on WPX Energy from $15.00 to $18.00 and gave the company a “positive” rating in a research report on Friday, September 9th. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. WPX Energy presently has a consensus rating of “Buy” and an average target price of $11.90.

Shares of WPX Energy (NYSE:WPX) opened at 12.42 on Friday. The company’s 50 day moving average price is $12.56 and its 200 day moving average price is $10.28. The stock’s market capitalization is $4.28 billion. WPX Energy has a one year low of $2.53 and a one year high of $13.92.

WPX Energy (NYSE:WPX) last announced its earnings results on Thursday, August 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.07. The company had revenue of $138 million for the quarter, compared to analyst estimates of $252.14 million. WPX Energy had a negative return on equity of 6.76% and a negative net margin of 142.42%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share. On average, equities analysts expect that WPX Energy will post ($0.81) earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in WPX. BlackRock Institutional Trust Company N.A. increased its stake in shares of WPX Energy by 13.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,589,684 shares of the company’s stock valued at $53,052,000 after buying an additional 917,948 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of WPX Energy by 28.4% in the first quarter. Wellington Management Group LLP now owns 10,163,567 shares of the company’s stock valued at $71,044,000 after buying an additional 2,248,105 shares during the last quarter. BlackRock Group LTD increased its stake in shares of WPX Energy by 60.3% in the first quarter. BlackRock Group LTD now owns 316,752 shares of the company’s stock valued at $2,215,000 after buying an additional 119,209 shares during the last quarter. Credit Agricole S A increased its stake in shares of WPX Energy by 87.8% in the first quarter. Credit Agricole S A now owns 70,927 shares of the company’s stock valued at $496,000 after buying an additional 33,159 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of WPX Energy by 7.4% in the first quarter. M&T Bank Corp now owns 16,040 shares of the company’s stock valued at $112,000 after buying an additional 1,105 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

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