Brokerages expect WPX Energy, Inc. (NYSE:WPX) to announce $601.85 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for WPX Energy's earnings, with estimates ranging from $528.00 million to $681.50 million. WPX Energy posted sales of $795.00 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 24.3%. The company is expected to issue its next earnings report on Wednesday, November 4th.
On average, analysts expect that WPX Energy will report full-year sales of $2.51 billion for the current fiscal year, with estimates ranging from $1.97 billion to $2.77 billion. For the next fiscal year, analysts expect that the company will report sales of $2.50 billion, with estimates ranging from $2.25 billion to $3.19 billion. Zacks' sales calculations are an average based on a survey of sell-side research analysts that follow WPX Energy.
WPX Energy (NYSE:WPX) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.02 by $0.10. WPX Energy had a positive return on equity of 3.78% and a negative net margin of 29.90%. The firm had revenue of $33.00 million for the quarter, compared to analyst estimates of $593.36 million. During the same period last year, the company earned $0.09 earnings per share. WPX Energy's revenue for the quarter was down 95.3% compared to the same quarter last year.
WPX has been the subject of several analyst reports. Johnson Rice cut WPX Energy from a "buy" rating to a "hold" rating in a research note on Tuesday, September 29th. Northland Securities cut WPX Energy from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $7.50 to $9.00 in a research note on Monday, September 14th. Piper Sandler upped their price objective on WPX Energy from $7.00 to $8.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. ValuEngine cut WPX Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, September 2nd. Finally, KeyCorp lowered their price objective on WPX Energy from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company's stock. The stock currently has a consensus rating of "Buy" and a consensus target price of $10.19.
Institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors bought a new stake in WPX Energy during the second quarter worth about $52,000. First Mercantile Trust Co. lifted its position in shares of WPX Energy by 359.8% during the second quarter. First Mercantile Trust Co. now owns 8,460 shares of the oil and gas producer's stock worth $54,000 after purchasing an additional 6,620 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of WPX Energy during the second quarter worth approximately $62,000. IBM Retirement Fund acquired a new position in WPX Energy in the third quarter valued at approximately $64,000. Finally, JustInvest LLC acquired a new position in WPX Energy in the second quarter valued at approximately $66,000. Institutional investors and hedge funds own 97.49% of the company's stock.
WPX opened at $4.52 on Tuesday. WPX Energy has a 12 month low of $1.94 and a 12 month high of $14.43. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -2.86 and a beta of 3.41. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10. The business has a fifty day moving average price of $4.86 and a 200 day moving average price of $5.51.
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. It produces oil, natural gas, and natural gas liquids. The company operates 688 wells and owns interests in 787 wells covering an area of approximately 122,000 net acres located in Delaware Basin, Texas, and New Mexico; and operates 404 wells and owns interests in 104 wells that covers an area of approximately 87,000 net acres situated in the Williston Basin, North Dakota.
Recommended Story: Trading Stocks - What are percentage gainers?
Get a free copy of the Zacks research report on WPX Energy (WPX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Best Stocks to Own Right Now
Today, we are inviting you to view our list of the seven best stocks to own for the next thirty days.
Why is it worth looking into these stocks? Some of Wall Street's most respected and most accurate research analysts have been upgrading these stocks and raising their price targets for these companies.
No, we're not talking recommendations from some no-name blogger or a junior analyst from a brokerage you've never heard of. These stocks have received multiple positive recommendations in the last 30 days from analysts that have received four star and five star rankings from MarketBeat's proprietary brokerage ranking system.
Analysts given four star and five star ratings from MarketBeat consistently issue accurate price targets and their buy recommendations often outperform the market by double digits. Buy recommendations from our current top-rated brokerage, National Securities, have gone up by an average of 47.5% in the 12 months after they were issued.
We've reviewed every research report published by these top-rated analysts in the last 90 days and have identified seven stocks that these analysts are poised for an immediate breakout.
View the "7 Best Stocks to Own Right Now".