Paloma Partners Management Co reduced its stake in shares of WPX Energy Inc (NYSE:WPX) by 60.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 123,850 shares of the oil and gas producer’s stock after selling 192,943 shares during the period. Paloma Partners Management Co’s holdings in WPX Energy were worth $2,233,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Hartford Financial Management Inc. acquired a new stake in shares of WPX Energy during the 2nd quarter valued at about $108,000. Bayesian Capital Management LP acquired a new stake in shares of WPX Energy during the 1st quarter valued at about $171,000. SeaBridge Investment Advisors LLC acquired a new stake in shares of WPX Energy during the 2nd quarter valued at about $177,000. Usca Ria LLC acquired a new stake in shares of WPX Energy during the 2nd quarter valued at about $186,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of WPX Energy by 132.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 13,219 shares of the oil and gas producer’s stock valued at $195,000 after acquiring an additional 7,534 shares during the period. 93.76% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on WPX shares. Seaport Global Securities upgraded WPX Energy from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, May 23rd. JPMorgan Chase & Co. raised their target price on WPX Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, May 23rd. Stifel Nicolaus raised their target price on WPX Energy from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, June 20th. US Capital Advisors started coverage on WPX Energy in a research report on Monday, July 2nd. They set a “buy” rating on the stock. Finally, TD Securities started coverage on WPX Energy in a research report on Thursday, July 5th. They set a “buy” rating and a $25.00 target price on the stock. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $22.04.
WPX Energy (NYSE:WPX) last issued its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. The firm had revenue of $430.00 million for the quarter, compared to analyst estimates of $432.92 million. WPX Energy had a negative net margin of 30.02% and a negative return on equity of 0.97%. WPX Energy’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. research analysts predict that WPX Energy Inc will post 0.2 earnings per share for the current fiscal year.
WPX Energy 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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