Louisiana State Employees Retirement System decreased its stake in shares of WPX Energy Inc (NYSE:WPX) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,500 shares of the oil and gas producer’s stock after selling 4,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in WPX Energy were worth $1,138,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in WPX. Norges Bank bought a new position in WPX Energy during the fourth quarter valued at $32,726,000. Benefit Street Partners LLC lifted its holdings in shares of WPX Energy by 556.8% in the 1st quarter. Benefit Street Partners LLC now owns 1,110,000 shares of the oil and gas producer’s stock worth $14,552,000 after acquiring an additional 1,353,000 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of WPX Energy by 10.4% in the 1st quarter. Neuberger Berman Group LLC now owns 11,825,874 shares of the oil and gas producer’s stock worth $155,038,000 after acquiring an additional 1,116,833 shares during the last quarter. Marshall Wace North America L.P. increased its stake in WPX Energy by 288.5% in the 1st quarter. Marshall Wace North America L.P. now owns 1,235,285 shares of the oil and gas producer’s stock worth $16,193,000 after buying an additional 917,319 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in WPX Energy by 19.4% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,130,236 shares of the oil and gas producer’s stock worth $41,037,000 after buying an additional 507,596 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.
WPX has been the topic of several recent analyst reports. KeyCorp raised their price target on shares of WPX Energy from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. TD Securities cut their target price on shares of WPX Energy from $19.00 to $18.50 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Imperial Capital lifted their price objective on shares of WPX Energy from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. ValuEngine downgraded shares of WPX Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, MKM Partners started coverage on shares of WPX Energy in a research report on Thursday, June 13th. They issued a “buy” rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.52.
WPX Energy (NYSE:WPX) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $695.00 million for the quarter, compared to analyst estimates of $566.34 million. WPX Energy had a net margin of 23.59% and a return on equity of 2.28%. The firm’s revenue was up 61.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 earnings per share. On average, sell-side analysts predict that WPX Energy Inc will post 0.36 earnings per share for the current 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 operates 657 wells and owns interests in 808 wells covering an area of approximately 130,000 net acres located in Delaware Basin, Texas and New Mexico; and operates 323 wells and owns interests in 87 wells that covers an area of approximately 85,087 net acres situated in the Williston Basin, North Dakota.
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