Susquehanna analyst Biju Perincheril reiterated a Buy rating on WPX Energy (NYSE: WPX) on July 9 and set a price target of $24. The company’s shares closed yesterday at $18.74, close to its 52-week high of $19.78.
According to TipRanks.com, Perincheril is a 5-star analyst with an average return of 18.8% and a 70.7% success rate. Perincheril covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Whiting Petroleum Corp, and Jagged Peak Energy Inc.
Currently, the analyst consensus on WPX Energy is a Strong Buy with an average price target of $23, a 22.7% 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.
