Mizuho Securities Keeps Their Hold Rating on WPX Energy (WPX)

By Ryan Adsit

Mizuho Securities analyst Paul Sankey maintained a Hold rating on WPX Energy (WPXResearch Report) yesterday and set a price target of $14. The company’s shares opened today at $13.27.

Sankey observed:

“We expect the company to provide an upward revision to inventory estimates, with Third Bone Spring development fully incorporated, sooner than later in 2019 and think this is the next upside catalyst for the stock.”

According to TipRanks.com, Sankey is a 1-star analyst with an average return of -3.4% and a 45.7% success rate. Sankey covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum Corporation, Continental Resources, and Occidental Petroleum.

WPX Energy has an analyst consensus of Strong Buy, with a price target consensus of $18.65.

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Based on WPX Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $623 million and GAAP net loss of $7 million. In comparison, last year the company earned revenue of $448 million and had a GAAP net loss of $38 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.