Tortoise Capital Advisors L.L.C. raised its stake in WPX Energy Inc (NYSE:WPX) by 3.5% in the 2nd quarter, Holdings Channel reports. The firm owned 728,360 shares of the oil and gas producer’s stock after acquiring an additional 24,649 shares during the period. Tortoise Capital Advisors L.L.C.’s holdings in WPX Energy were worth $13,132,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bayesian Capital Management LP bought a new stake in shares of WPX Energy in the 1st quarter worth about $171,000. SeaBridge Investment Advisors LLC bought a new stake in shares of WPX Energy in the 2nd quarter worth about $177,000. Cubist Systematic Strategies LLC increased its position in shares of WPX Energy by 132.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 13,219 shares of the oil and gas producer’s stock worth $195,000 after purchasing an additional 7,534 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of WPX Energy in the 2nd quarter worth about $206,000. Finally, Envestnet Asset Management Inc. increased its position in shares of WPX Energy by 110.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,324 shares of the oil and gas producer’s stock worth $226,000 after purchasing an additional 8,031 shares during the last quarter. 94.59% of the stock is owned by institutional investors.
Shares of NYSE:WPX opened at $18.23 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.58. WPX Energy Inc has a fifty-two week low of $9.38 and a fifty-two week high of $19.78. The stock has a market cap of $7.70 billion, a P/E ratio of -43.40 and a beta of 2.30.
WPX has been the subject of several research analyst reports. Northland Securities set a $26.00 target price on shares of WPX Energy and gave the stock a “buy” rating in a research report on Friday, August 3rd. Bank of America boosted their target price on shares of WPX Energy from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Robert W. Baird reissued a “buy” rating and issued a $25.00 target price on shares of WPX Energy in a research report on Wednesday, August 1st. Zacks Investment Research raised shares of WPX Energy from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Thursday, July 26th. Finally, TD Securities initiated coverage on shares of WPX Energy in a research report on Thursday, July 5th. They issued a “buy” rating and a $25.00 target price for the company. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.74.
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'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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