J.P. Morgan Reiterates a Buy Rating on WPX Energy

By Austin Angelo

In a report released yesterday, Michael Glick from J.P. Morgan reiterated a Buy rating on WPX Energy (NYSE: WPX), with a price target of $15. The company’s shares opened today at $11.97.

According to TipRanks.com, Glick is a 5-star analyst with an average return of 25.2% and a 79.5% success rate. Glick covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp., Gulfport Energy Corp., and Oasis Petroleum Inc.

Currently, the analyst consensus on WPX Energy is Moderate Buy and the average price target is $14.80, representing a 23.6% upside.

In a report issued on November 3, FBR Capital also reiterated a Buy rating on the stock.

Based on WPX Energy’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $213 million and GAAP net loss of $220 million. In comparison, last year the company earned revenue of $332 million and had a GAAP net loss of $230 million.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WPX in relation to earlier this year. Most recently, in August 2015, Richard Muncrief, the President and CEO of WPX bought 20,000 shares for a total of $167,000.

WPX Energy, Inc. engages in the development and exploration of oil, natural gas liquid, and gas properties. Its basin portfolio includes Permian, Williston, and San Juan. The company was founded on April 19, 2011 and is headquartered in Tulsa, OK.