Industry News

CIBC Asset Management Inc Sells 11,255 Shares of WPX Energy Inc (NYSE:WPX)

By August 28, 2019 No Comments

CIBC Asset Management Inc decreased its position in shares of WPX Energy Inc (NYSE:WPX) by 15.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,557 shares of the oil and gas producer’s stock after selling 11,255 shares during the quarter. CIBC Asset Management Inc’s holdings in WPX Energy were worth $686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WPX. Benefit Street Partners LLC grew its position in shares of WPX Energy by 556.8% during 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 buying an additional 1,353,000 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of WPX Energy by 10.4% during 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 buying an additional 1,116,833 shares in the last quarter. Marshall Wace North America L.P. grew its position in shares of WPX Energy by 288.5% during 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 in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of WPX Energy by 19.4% during 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 in the last quarter. Finally, AGF Investments Inc. grew its position in shares of WPX Energy by 29.7% during the 1st quarter. AGF Investments Inc. now owns 2,001,021 shares of the oil and gas producer’s stock worth $26,233,000 after buying an additional 458,237 shares in the last quarter. 98.70% of the stock is currently owned by institutional investors and hedge funds.

WPX Energy stock opened at $10.25 on Tuesday. The stock has a 50-day moving average of $10.29 and a two-hundred day moving average of $11.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.71 and a current ratio of 0.75. WPX Energy Inc has a one year low of $8.79 and a one year high of $20.80. The stock has a market cap of $4.46 billion, a PE ratio of 113.89, a price-to-earnings-growth ratio of 0.99 and a beta of 2.26.

WPX Energy (NYSE:WPX) last released its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. WPX Energy had a return on equity of 2.28% and a net margin of 23.59%. The company had revenue of $695.00 million during the quarter, compared to analysts’ expectations of $566.34 million. During the same period last year, the business posted $0.06 earnings per share. The firm’s revenue was up 61.6% compared to the same quarter last year. As a group, sell-side analysts predict that WPX Energy Inc will post 0.38 EPS for the current fiscal year.

A number of research firms have recently issued reports on WPX. Cowen set a $14.00 price target on WPX Energy and gave the stock a “buy” rating in a research report on Wednesday, August 21st. TD Securities dropped their price objective on WPX Energy from $19.00 to $18.50 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. ValuEngine downgraded WPX Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Imperial Capital raised their price objective on WPX Energy from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Piper Jaffray Companies set a $14.00 price objective on WPX Energy and gave the company a “buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-two have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $18.76.

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 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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Institutional Ownership by Quarter for WPX Energy (NYSE:WPX)

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