WPX Energy (WPX) Receives a Buy from Williams Capital

By Jason Carr

In a report released today, Gabriele Sorbara from Williams Capital maintained a Buy rating on WPX Energy (WPXResearch Report), with a price target of $21. The company’s shares closed yesterday at $13.40.

Sorbara noted:

“We expect shares to outperform on the 4Q18 oil producon beat. We reaffirm our Buy rang and WPX remains a Top Pick for its core Delaware Basin posion, premier execuon, sig nificant midstream oponality and a racve relave valuaon. Key Points 4Q18 oil producon beats Consensus by more than 3%. WPX reported 4Q18 clean EPS and DCFPS of $0.02/$0.73, vs. our esmates of $0.11/$ 0.74 and Consensus of $0.05/$0.66. 4Q18 EBITDA was $306.0 million, below our esmate of $357.8 million and be low Consensus of $316.3 million. 4Q18 producon was announced at 156.4 Mboe/d, above our esmate of 1 53.8 Mboe/d and ahead of Consensus of 148.0 Mboe/d. More importantly, oil volumes came in at 96.0 Mbbls/d, 1.7% above our esmate of 94.1 93.1 Mbbls/d.”

According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -8.7% and a 37.8% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for WPX Energy with a $18.65 average price target, a 39.2% upside from current levels. In a report issued on February 7, Cowen & Co. also maintained a Buy rating on the stock with a $19 price target.

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The company has a one-year high of $20.80 and a one-year low of $9.89. Currently, WPX Energy has an average volume of 7.5M.

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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.