Envestnet Asset Management Inc. increased its position in shares of WPX Energy Inc (NYSE:WPX) by 237.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,642 shares of the oil and gas producer’s stock after purchasing an additional 36,318 shares during the period. Envestnet Asset Management Inc.’s holdings in WPX Energy were worth $932,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in WPX. Westwood Holdings Group Inc. purchased a new position in shares of WPX Energy during the 1st quarter worth about $43,669,000. Scout Investments Inc. purchased a new position in shares of WPX Energy during the 2nd quarter worth about $35,397,000. Carillon Tower Advisers Inc. purchased a new position in shares of WPX Energy during the 2nd quarter worth about $22,708,000. PointState Capital LP purchased a new position in shares of WPX Energy during the 1st quarter worth about $14,409,000. Finally, BlackRock Inc. boosted its stake in shares of WPX Energy by 2.5% during the 1st quarter. BlackRock Inc. now owns 33,436,963 shares of the oil and gas producer’s stock worth $494,197,000 after purchasing an additional 815,843 shares during the period. 93.74% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:WPX traded up $0.43 during trading hours on Friday, hitting $18.60. The company’s stock had a trading volume of 7,429,861 shares, compared to its average volume of 6,697,209. WPX Energy Inc has a 52 week low of $9.90 and a 52 week high of $20.80. 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 firm has a market cap of $8.45 billion, a P/E ratio of -44.29 and a beta of 2.33.
WPX Energy (NYSE:WPX) last posted its quarterly 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 net margin of 30.02% and a negative return on equity of 0.97%. The business had revenue of $430.00 million during the quarter, compared to analyst estimates of $432.92 million. During the same quarter in the previous year, the business posted $0.18 EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, research analysts predict that WPX Energy Inc will post 0.2 EPS for the current fiscal year.
A number of equities analysts recently commented on WPX shares. Zacks Investment Research raised shares of WPX Energy from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, October 3rd. Bank of America boosted their price objective on shares of WPX Energy from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price objective on shares of WPX Energy in a research report on Thursday, August 30th. Raymond James raised shares of WPX Energy from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Monday, August 6th. Finally, Jefferies Financial Group assumed coverage on shares of WPX Energy in a research report on Friday, September 28th. They issued a “buy” rating and a $28.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. WPX Energy presently has a consensus rating of “Buy” and an average price target of $22.92.
WPX Energy Company Profile
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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