Why Has Sun Trust Rbsn Humphrey Given WPX Energy (NYSE:WPX) a $10 Price Target
Analysts at Sun Trust Rbsn Humphrey commenced coverage coverage on shares of WPX Energy (NYSE:WPX) in a recent report distributed on Tuesday morning. The broker set “Buy” rating on the $1.65B market cap company.
From a total of 19 analysts covering WPX Energy (NYSE:WPX) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 56% of the ratings are positive. The highest target price is $20 while the lowest target price is $7.25. The mean of all analyst targets is $11.17 with a 76.97% above today’s ($6.47) stock price. WPX Energy was the topic of 19 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Cowen & Co initiated shares on December 9 with “Market Perform” rating. Barclays Capital initiated shares with “Equal Weight” rating and $7 target share price in a report from a September 2. Imperial Capital maintained WPX stock in a recent report from December 7 with “Outperform” rating. Finally, Citigroup initiated the stock with “Neutral” rating in a report issued on a September 22.
The stock increased 10.79% or $0.63 on December 15, striking $6.47. Approximately 9.84M shares of stock traded hands or 5.24% up from the average. WPX Energy Inc (NYSE:WPX) has declined 59.42% since May 12, 2015 and is downtrending. It has underperformed by 55.74% the S&P500.
The overall sentiment of institutions has increased to 1.58 in Q2 2015. Its up 0.57, from 1.01 in 2015Q2. The ratio is positive, as 45 institutions have sold all the shares of WPX Energy Inc that they owned while 75 funds have taken shares off the table. 59 funds have purchased shares for the first time while 130 added to their positions. These institutions now hold 239.23 million shares or 17.39% more than the 203.79 million shares they owned in 2015Q2.
The Fund First Reserve Gp Xii Ltd currently is holding shares equating to 21.64% of its total portfolio in WPX Energy Inc representing a total of 7.79 million shares. Another fund,Mount Kellett Capital Management Lp, is holding a total of 2.89 million shares equating to 18.75% of their holdings. Additionally, Goodhaven Capital Management Llc has a 4.19 million share stake in WPX Energy Inc which represents 10.74% of their total portfolio. The Fund, Jvl Advisors L.L.C., based out of Texas, has also built up a stake in the stock, which represents a total of 9.98% of their total portfolio. Finally Aegis Financial Corp, a fund which is based in the state of Virginia reported a total holdings of 1.34 million shares.
WPX Energy, Inc. is an independent natural gas and oil exploration and production company. The company has a market cap of $1.65 billion. The Firm is engaged in the exploitation and development of unconventional properties. It has 12.47 P/E ratio. The Company’s areas of activities are the Piceance Basin in the Rocky Mountain region, the Williston Basin in North Dakota and the San Juan Basin in the southwestern United States.
According to Zacks Investment Research, “WPX Energy, Inc. is a natural gas and oil company focused on the exploitation and development of unconventional properties. The Company has oil and gas properties particularly in the Piceance Basin, Bakken Shale and Marcellus Shale. WPX Energy, Inc. is based in Tulsa, Oklahoma.”