Equities research analysts forecast that WPX Energy Inc (NYSE:WPX) will post $527.94 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for WPX Energy’s earnings. The highest sales estimate is $650.00 million and the lowest is $479.00 million. WPX Energy posted sales of $224.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 135.7%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, October 31st.
On average, analysts expect that WPX Energy will report full-year sales of $1.93 billion for the current year, with estimates ranging from $1.71 billion to $2.34 billion. For the next year, analysts expect that the company will post sales of $2.64 billion, with estimates ranging from $2.42 billion to $3.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow WPX Energy.
WPX Energy (NYSE:WPX) last issued its earnings results on Wednesday, August 1st. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $430.00 million for the quarter, compared to the consensus estimate of $432.92 million. WPX Energy had a negative net margin of 30.02% and a negative return on equity of 0.97%. The business’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share.
Several brokerages have recently issued reports on WPX. Zacks Investment Research downgraded shares of WPX Energy from a “buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird reissued a “buy” rating and set a $25.00 price objective on shares of WPX Energy in a report on Wednesday, August 1st. Goldman Sachs Group cut shares of WPX Energy from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a report on Friday, August 3rd. Seaport Global Securities set a $28.00 price objective on shares of WPX Energy and gave the company a “buy” rating in a report on Wednesday, October 3rd. Finally, BMO Capital Markets reissued a “buy” rating and set a $25.00 price objective on shares of WPX Energy in a report on Thursday, October 11th. Two investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $22.88.
A number of hedge funds have recently made changes to their positions in the business. Leavell Investment Management Inc. purchased a new stake in WPX Energy during the third quarter valued at approximately $218,000. SeaBridge Investment Advisors LLC increased its holdings in WPX Energy by 1,797.7% during the third quarter. SeaBridge Investment Advisors LLC now owns 186,353 shares of the oil and gas producer’s stock valued at $3,749,000 after buying an additional 176,533 shares during the last quarter. Mizuho Securities USA LLC purchased a new stake in WPX Energy during the third quarter valued at approximately $605,000. Empowered Funds LLC purchased a new stake in WPX Energy during the third quarter valued at approximately $1,766,000. Finally, Seven Eight Capital LP purchased a new stake in WPX Energy during the third quarter valued at approximately $2,043,000. 93.44% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE WPX traded down $0.17 during midday trading on Wednesday, hitting $17.96. The stock had a trading volume of 3,765,583 shares, compared to its average volume of 6,656,505. The company has a market cap of $7.61 billion, a PE ratio of -42.76 and a beta of 2.33. WPX Energy 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.
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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