After Piper Jaffray and Williams Capital gave WPX Energy (NYSE: WPX) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Jeff Grampp reiterated a Buy rating on WPX Energy today and set a price target of $20. The company’s shares closed yesterday at $13.23.
Grampp said:
“We are encouraged with WPX’s start to 2019 and reiterate our Outperform rating and $20 PT.”
According to TipRanks.com, Grampp is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.8% and a 33.0% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and SilverBow Resources Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for WPX Energy with a $18.80 average price target, representing a 42.1% upside. In a report issued on April 18, Williams Capital also maintained a Buy rating on the stock with a $22 price target.
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Based on WPX Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $579 million and net profit of $354 million. In comparison, last year the company earned revenue of $443 million and had a GAAP net loss of $115 million.
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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.
