In a report issued on July 9, Phillip Jungwirth from BMO Capital reiterated a Buy rating on WPX Energy (NYSE: WPX), with a price target of $23. The company’s shares closed yesterday at $18.51, close to its 52-week high of $19.78.
According to TipRanks.com, Jungwirth is a 4-star analyst with an average return of 9.1% and a 62.8% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as HighPoint Resources Corporation, Whiting Petroleum Corp, and Occidental Petroleum.
WPX Energy has an analyst consensus of Strong Buy, with a price target consensus of $22.86, which is a 23.5% upside from current levels. In a report issued on July 5, TD Securities also initiated coverage with a Buy rating on the stock with a $25 price target.
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Based on WPX Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $443 million and GAAP net loss of $115 million. In comparison, last year the company earned revenue of $297 million and had a net profit of $76 million.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock.
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WPX Energy, Inc. engages in the development and exploration of oil, natural gas liquid, and gas properties. Its basin portfolio includes Delaware, Williston and San Juan. The company was founded on April 19, 2011 and is headquartered in Tulsa, OK.
