Will WPX Energy, Inc. (WPX) Short Squeeze Soon? The Stock Formed a Multiple Top Pattern

September 8, 2018 - By Mary Kidd

WPX Energy, Inc. (NYSE:WPX) Logo

Investors sentiment decreased to 0.92 in Q1 2018. Its down 0.12, from 1.04 in 2017Q4. It fall, as 38 investors sold WPX Energy, Inc. shares while 108 reduced holdings. 53 funds opened positions while 81 raised stakes. 382.86 million shares or 0.27% more from 381.83 million shares in 2017Q4 were reported.
Caymus Cap Partners L P holds 1.89M shares. Delta Asset Management Ltd Liability Corp Tn invested in 349 shares. Numerixs Investment Technologies Inc owns 0.19% invested in WPX Energy, Inc. (NYSE:WPX) for 54,300 shares. The Illinois-based Envestnet Asset has invested 0% in WPX Energy, Inc. (NYSE:WPX). Prudential Fincl accumulated 252,402 shares. Tiaa Cref Inv Management Ltd Liability Corp owns 4.34M shares or 0.04% of their US portfolio. Alyeska Investment Gru L P accumulated 0.5% or 3.74M shares. Goodhaven Capital Mngmt Lc stated it has 17.99% in WPX Energy, Inc. (NYSE:WPX). Cubist Systematic Strategies has invested 0.01% in WPX Energy, Inc. (NYSE:WPX). Fortress Inv Grp Ltd has invested 1.1% in WPX Energy, Inc. (NYSE:WPX). Cap Advsrs Inc Ok invested 0.01% of its portfolio in WPX Energy, Inc. (NYSE:WPX). Jefferies Gru Ltd Limited Liability Company holds 0% or 50,179 shares. Stock Yards State Bank Tru reported 0.02% stake. Benjamin F Edwards & Incorporated accumulated 250 shares. Westfield Cap Management Lp holds 781,170 shares.

Since May 7, 2018, it had 0 insider purchases, and 5 sales for $2.52 million activity. The insider GUDERIAN BRYAN K sold 50,000 shares worth $921,650. 15,000 WPX Energy, Inc. (NYSE:WPX) shares with value of $270,900 were sold by Vann J Kevin. Another trade for 55,000 shares valued at $991,650 was sold by Gaspar Clay M. On Wednesday, May 16 the insider CAMERON DENNIS C sold $181,900.

The stock of WPX Energy, Inc. (WPX) shows a multiple tops pattern with $19.01 target or 8.00 % above today’s $17.60 share price. The 9 months chart pattern indicates low risk for the $7.39 billion company. It was reported on Sep, 8 by Finviz.com. If the $19.01 price target is reached, the company will be worth $591.36 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.98% or $0.17 during the last trading session, reaching $17.6. About 6.81M shares traded or 15.45% up from the average. WPX Energy, Inc. (NYSE:WPX) has risen 49.36% since September 8, 2017 and is uptrending. It has outperformed by 36.79% the S&P500.

Analysts await WPX Energy, Inc. (NYSE:WPX) to report earnings on November, 7. They expect $0.08 earnings per share, up 180.00 % or $0.18 from last year’s $-0.1 per share. WPX’s profit will be $33.60M for 55.00 P/E if the $0.08 EPS becomes a reality. After $0.06 actual earnings per share reported by WPX Energy, Inc. for the previous quarter, Wall Street now forecasts 33.33 % EPS growth.

WPX Energy, Inc. (NYSE:WPX) Ratings Coverage

Among 15 analysts covering WPX Energy (NYSE:WPX), 14 have Buy rating, 0 Sell and 1 Hold. Therefore 93% are positive. WPX Energy had 16 analyst reports since March 9, 2018 according to SRatingsIntel. The firm has “Overweight” rating given on Wednesday, April 11 by PiperJaffray. The stock of WPX Energy, Inc. (NYSE:WPX) earned “Buy” rating by Bank of America on Thursday, August 2. The company was maintained on Thursday, April 19 by Susquehanna. SunTrust maintained it with “Buy” rating and $2200 target in Monday, April 16 report. The firm earned “Neutral” rating on Friday, August 3 by Goldman Sachs. Stifel Nicolaus maintained the stock with “Buy” rating in Wednesday, June 20 report. The stock of WPX Energy, Inc. (NYSE:WPX) has “Buy” rating given on Wednesday, March 28 by Stifel Nicolaus. The rating was maintained by Piper Jaffray on Wednesday, April 18 with “Buy”. JP Morgan maintained the shares of WPX in report on Wednesday, May 23 with “Overweight” rating. The company was maintained on Friday, March 9 by Citigroup.

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. The company has market cap of $7.39 billion. The companyÂ’s principal areas of operation include the Delaware Basin in Texas and New Mexico; the Williston Basin in North Dakota; and the San Juan Basin in New Mexico and Colorado. It currently has negative earnings. As of December 31, 2016, it had proved reserves of 346 million barrels of oil equivalent.

WPX Energy, Inc. (NYSE:WPX) Institutional Positions Chart

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