Wednesday, July 06, 2016 2:34:56 PM
WPX...independent oil and natural gas exploration and production... the company was upgraded this morning to "buy" from "neutral" at Goldman Sachs.
https://www.thestreet.com/story/13630900/1/wpx-energy-wpx-stock-up-goldman-upgrades.html?puc=yahoo&cm_ven=YAHOO
Additionally, the firm raised their price target to $14.75 from $10.50.
The rating and price increase for WPX is a result of the Tulsa, OK-based petroleum and natural gas exploration company's "peer-leading, debt-adjusted oil production growth profile," according to the analyst note.
The upgrade also follows the energy company's recapitalization and strategic re-positioning. "We believe investors who were previously hesitant, mainly due to financial leverage concerns will likely revisit the stock as the market recognizes materially undervalued medium-term oil production growth opportunities," the firm noted.
WPX's recent $0.5 billion equity issuance should also increase investor confidence, Goldman said.
The firm expects WPX to see 29% oil production growth at least through 2018.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate WPX ENERGY INC as a Sell with a ratings score of D. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk.
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WPX Energy, Inc., an independent oil and natural gas exploration and production company, engages in the exploitation and development of unconventional properties in the United States. Its principal areas of operation include the Permian Basin in Texas and New Mexico, the Williston Basin in North Dakota, and the San Juan Basin in New Mexico and Colorado. As of December 31, 2014, the company had proved reserves of 583 million barrels of oil equivalent. WPX Energy, Inc. was incorporated in 2011 and is headquartered in Tulsa, Oklahoma.
WPX independent oil and natural gas exploration and production.
https://www.thestreet.com/story/13630900/1/wpx-energy-wpx-stock-up-goldman-upgrades.html?puc=yahoo&cm_ven=YAHOO
Additionally, the firm raised their price target to $14.75 from $10.50.
The rating and price increase for WPX is a result of the Tulsa, OK-based petroleum and natural gas exploration company's "peer-leading, debt-adjusted oil production growth profile," according to the analyst note.
The upgrade also follows the energy company's recapitalization and strategic re-positioning. "We believe investors who were previously hesitant, mainly due to financial leverage concerns will likely revisit the stock as the market recognizes materially undervalued medium-term oil production growth opportunities," the firm noted.
WPX's recent $0.5 billion equity issuance should also increase investor confidence, Goldman said.
The firm expects WPX to see 29% oil production growth at least through 2018.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate WPX ENERGY INC as a Sell with a ratings score of D. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk.
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WPX Energy, Inc., an independent oil and natural gas exploration and production company, engages in the exploitation and development of unconventional properties in the United States. Its principal areas of operation include the Permian Basin in Texas and New Mexico, the Williston Basin in North Dakota, and the San Juan Basin in New Mexico and Colorado. As of December 31, 2014, the company had proved reserves of 583 million barrels of oil equivalent. WPX Energy, Inc. was incorporated in 2011 and is headquartered in Tulsa, Oklahoma.
WPX independent oil and natural gas exploration and production.
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