Municipal Employees Retirement System of Michigan lifted its position in WPX Energy (NYSE:WPX) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 123,720 shares of the oil and gas producer’s stock after buying an additional 3,390 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in WPX Energy were worth $1,829,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. bought a new position in shares of WPX Energy in the fourth quarter worth approximately $114,000. Avestar Capital LLC bought a new position in shares of WPX Energy in the fourth quarter worth approximately $131,000. Capital Fund Management S.A. bought a new position in shares of WPX Energy in the fourth quarter worth approximately $173,000. Envestnet Asset Management Inc. lifted its stake in shares of WPX Energy by 110.1% in the first quarter. Envestnet Asset Management Inc. now owns 15,324 shares of the oil and gas producer’s stock worth $226,000 after buying an additional 8,031 shares in the last quarter. Finally, FDx Advisors Inc. bought a new position in shares of WPX Energy in the fourth quarter worth approximately $227,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.
In other WPX Energy news, insider Clay M. Gaspar sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $18.03, for a total transaction of $991,650.00. Following the completion of the sale, the insider now directly owns 519,590 shares of the company’s stock, valued at $9,368,207.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Stephen L. Faulkner, Jr. sold 8,100 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $18.87, for a total transaction of $152,847.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,100 shares of company stock valued at $2,518,797. 1.50% of the stock is owned by corporate insiders.
WPX has been the topic of several analyst reports. SunTrust Banks set a $22.00 target price on shares of WPX Energy and gave the stock a “buy” rating in a research note on Monday, April 16th. ValuEngine upgraded shares of WPX Energy from a “sell” rating to a “hold” rating in a research note on Friday, April 13th. Northland Securities reiterated a “buy” rating and issued a $20.00 target price on shares of WPX Energy in a research note on Tuesday, February 27th. Piper Jaffray Companies upgraded shares of WPX Energy from a “neutral” rating to an “overweight” rating and set a $17.00 target price on the stock in a research note on Wednesday, April 11th. Finally, TheStreet upgraded shares of WPX Energy from a “d+” rating to a “c-” rating in a research note on Thursday, March 1st. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $19.75.
WPX Energy opened at $17.46 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.26 and a quick ratio of 1.22. WPX Energy has a twelve month low of $8.39 and a twelve month high of $19.23. The company has a market cap of $6.98 billion, a PE ratio of -41.57 and a beta of 2.28.
WPX Energy (NYSE:WPX) last released its quarterly earnings data on Wednesday, May 2nd. The oil and gas producer reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). WPX Energy had a negative net margin of 17.85% and a negative return on equity of 2.99%. The company had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $367.86 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. research analysts predict that WPX Energy will post 0.03 EPS for the current fiscal year.
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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