WPX Energy Inc (WPX) Position Trimmed by Millennium Management LLC

Millennium Management LLC lowered its position in WPX Energy Inc (NYSE:WPX) by 15.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,805,292 shares of the oil and gas producer’s stock after selling 1,432,041 shares during the period. Millennium Management LLC’s holdings in WPX Energy were worth $140,729,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Cornerstone Wealth Management LLC bought a new position in WPX Energy in the 2nd quarter worth $206,000. Hartford Financial Management Inc. bought a new position in shares of WPX Energy during the 2nd quarter valued at about $108,000. SeaBridge Investment Advisors LLC bought a new position in shares of WPX Energy during the 2nd quarter valued at about $177,000. Usca Ria LLC bought a new position in shares of WPX Energy during the 2nd quarter valued at about $186,000. Finally, Bayesian Capital Management LP bought a new position in shares of WPX Energy during the 1st quarter valued at about $171,000. 93.76% of the stock is owned by institutional investors.

Shares of NYSE:WPX opened at $17.86 on Friday. 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 12 month low of $9.90 and a 12 month high of $19.78. The stock has a market capitalization of $7.54 billion, a P/E ratio of -42.52 and a beta of 2.33.

WPX Energy (NYSE:WPX) last announced its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. WPX Energy had a negative net margin of 30.02% and a negative return on equity of 0.97%. The firm had revenue of $430.00 million during the quarter, compared to the consensus estimate of $432.92 million. During the same quarter last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. sell-side analysts forecast that WPX Energy Inc will post 0.2 earnings per share for the current year.

WPX has been the subject of several research reports. Northland Securities set a $26.00 price objective on shares of WPX Energy and gave the company a “buy” rating in a report on Friday, August 3rd. Bank of America increased their price objective on shares of WPX Energy from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Robert W. Baird reissued a “buy” rating and set a $25.00 price objective on shares of WPX Energy in a 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 price objective for the company in a report on Thursday, July 26th. Finally, TD Securities initiated coverage on shares of WPX Energy in a report on Thursday, July 5th. They set a “buy” rating and a $25.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $22.04.

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

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