State Treasurer State of Michigan lessened its holdings in WPX Energy Inc (NYSE:WPX) by 16.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 117,500 shares of the oil and gas producer’s stock after selling 23,400 shares during the period. State Treasurer State of Michigan’s holdings in WPX Energy were worth $1,352,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Norges Bank bought a new stake in WPX Energy in the 4th quarter valued at $32,726,000. Geode Capital Management LLC lifted its position in WPX Energy by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 3,944,865 shares of the oil and gas producer’s stock worth $44,774,000 after buying an additional 275,438 shares in the last quarter. State of Alaska Department of Revenue lifted its position in WPX Energy by 1.8% during the 1st quarter. State of Alaska Department of Revenue now owns 42,820 shares of the oil and gas producer’s stock worth $561,000 after buying an additional 772 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in WPX Energy by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 105,800 shares of the oil and gas producer’s stock worth $1,387,000 after buying an additional 1,000 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in WPX Energy by 4.6% during the 1st quarter. Retirement Systems of Alabama now owns 1,197,501 shares of the oil and gas producer’s stock worth $15,699,000 after buying an additional 52,666 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Shares of WPX stock opened at $10.27 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.71 and a current ratio of 0.75. The firm has a 50-day moving average price of $10.51. The company has a market cap of $4.39 billion, a PE ratio of 114.11, a price-to-earnings-growth ratio of 1.03 and a beta of 2.26. WPX Energy Inc has a 52-week low of $8.79 and a 52-week high of $20.80.

WPX Energy (NYSE:WPX) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. The company had revenue of $695.00 million for the quarter, compared to analysts’ expectations of $566.34 million. WPX Energy had a net margin of 23.59% and a return on equity of 2.28%. WPX Energy’s quarterly revenue was up 61.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. As a group, research analysts anticipate that WPX Energy Inc will post 0.36 EPS for the current fiscal year.

Several brokerages have commented on WPX. Imperial Capital boosted their price target 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. TD Securities cut their price target 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. TheStreet cut shares of WPX Energy from a “b-” rating to a “c” rating in a research report on Thursday, May 2nd. KeyCorp boosted their price target on shares of WPX Energy from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, SunTrust Banks set a $21.00 price target on shares of WPX Energy and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. One research 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 company. WPX Energy currently has an average rating of “Buy” and a consensus price target of $19.52.

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 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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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

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