The stock of WPX Energy, Inc. (NYSE:WPX) is now priced at $5.64 and the shares are 0.08 points up or 1.44% higher compared to its previous closing price of $5.56. The stock had 6.456 million contracts set over the past session. WPX shares’ daily volume is compared to its average trading volume at 9.224 million shares. However, it has a float of 401 million and although its performance was -6.93% over the week, it’s one to watch. Analysts have given the WPX stock a yearly average price target of $9.05 per share. It means the stock’s upside potential is 60.46% with the WPX share price recently placing at $5.43 to $5.66. However, some brokerage firms have priced the stock below the average, including one that has called $7.
The shorts are running away from the WPX Energy, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the WPX shares have declined. Short interest in the stock represents just 7% of its float, but the volume has dropped by 0.
In the last trading session, WPX Energy, Inc. (NYSE:WPX) dropped by -$0.42 over the week and lost -$0.29 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.43. The stock recorded its established 52-week high on 01/03/20.
Since 03/18/20, the stock has traded to a low of $1.94 at 190.72%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 3.45. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, WPX Energy, Inc.’s two-week RSI is 42.94. This suggests that the stock is neutral at the moment and that WPX shares’ price movement remains stable. The stochastic readings are equally revealing at 13.81% meaning the WPX share price is currently in overbought territory.
The technical chart shows that the WPX stock will likely settle at between $5.72 and $5.81 per share. However, if the stock dips below $5.49, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.35.
Currently, the stock is trading in the red of MACD, with a reading of -0.12. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned WPX a rating of Neutral in their intiating review released on July 27. Goldman analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $5.25 to $6.75 in a flash note released to investors on April 28. Credit Suisse analysts see the stock as Outperform when the analysts resumed the share price coverage on March 19, placing it at $8.
The average rating for the WPX equity is 1.84 and is currently gathering a bullish momentum. Of 30 analysts tracking WPX Energy, Inc. polled by Reuters, 4 rated WPX as a hold. The remaining 26 analysts were split evenly. However, the split wasn’t equal as a majority (26) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for WPX Energy, Inc. (NYSE:WPX) will decrease by about -99.81%, which will see them reach $585 million. The company’s full-year revenues are, however, expected to increase by about 3.69%, up from $2440 million to $2530 million. WPX’s expected adjusted earnings should drop almost -33.33% to end up at $0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -36.36% to record $0.21/share.