Fri, Feb. 13, 3:57 PM
- Walter Investment (WAC +14.6%) rallies ~15% higher after a favorable report in Barron's cited managers of the GoodHaven mutual fund who said WAC is a stock that has fallen by more than half over the past two years but can rebound quickly.
- WMC achieves better repayment results with fewer borrower complaints than most banks, the managers say, adding that the mortgage servicer has $3-$4/share in long-term earnings power and easily could hit $30-$35.
- The article also highlighted Barrick Gold (ABX +0.2%) and WPX Energy (WPX -0.4%) as stocks that could jump quickly if the prices of their respective commodities make progress.
Dec. 22, 2014, 10:45 AM
- Natural gas prices fall 9.5% to near two-year lows at $3.133/mmBtu, in the biggest one-day percentage loss since February and the lowest intraday price since January 2013, on mild weather forecasts and inventory that is above year-ago levels.
- Prices are now down more than 15% in three straight losing sessions and are 30% lower than the six-month high closing price of $4.489/mmBtu it hit just a month ago.
- Weather has been unseasonably warm for December, limiting demand for home heating and allowing relatively low stockpiles to catch up to where they were a year ago and encouraging traders to sell based on the belief that supply is relatively healthy.
- Gas producers are among the biggest early decliners: XOM -1.1%, CHK -7.3%, APC -2.6%, SWN -6%, DVN -2.2%, COP -2.3%, BP -1.5%, COG -4%, BHP -1.9%, CVX -1.3%, ECA -5.1%, EQT -4.3%, RDS.A -1.7%, UPL -12%, WPX -6.9%, EOG -1%, OXY -1.1%, RRC -6.1%, APA -2.3%, AR -3.2%, CNX -3%, QEP -4.8%, LINE -4.9%, NBL -1.6%, SM -2.6%, XEC -4.2%, PXD -2.9%, NFX -5.1%.
- ETFs: UNG, DGAZ, UGAZ, BOIL, GAZ, FCG, GASL, KOLD, UNL, NAGS, DCNG
Oct. 9, 2014, 11:34 AM
- WPX Energy (WPX -5.9%) is sharply lower, along with most oil and gas companies, despite revealing a new strategy to simplify its geographic focus and expand its returns, margins and cash flow over the next five years.
- WPX believes its revamped model will produce a five-fold jump in oil production as well as triple operating margins and the company's overall value by 2020 from 2013.
- Says its core resource plays in the Williston Basin in North Dakota, the San Juan Basin in New Mexico and the Piceance Basin in Colorado have ~16K remaining drillable locations, 480K net acres and more than 14T cfe of proved, probable and possible oil and gas reserves as of Dec. 2013.
Oct. 3, 2014, 11:56 AM| 1 Comment
Aug. 25, 2014, 2:59 PM
- WPX Energy (WPX +2.5%) is upgraded to Sector Outperform from Sector Perform with a $32 price target, up from $25, at Howard Weil, which says WPX continues its turnaround story with outstanding Q2 results.
- Q2 was the first quarter directed by new CEO Rick Muncrief, and the outlook is already much improved; oil production was ahead of estimates, costs are declining, Gallup results are improving, and the more simplified company is heading in the right direction, Weil says.
Aug. 6, 2014, 2:09 PM
- WPX Energy (WPX +11.4%) surges as much as 16%, the most since its trading debut, after posting a solid Q2 adjusted profit when analyst consensus called for a loss, and boosting its outlook for crude production.
- WPX expects its U.S. oil production to grow by 55% this year, up from its earlier projection of 40%, it plans to add ~200 drilling locations in the Williston oil region in North Dakota and Montana and expects to increase activity in New Mexico’s San Juan basin as well.
- While WPX recorded an adjusted Q2 loss due to a asset sales, the report was positive because of the strong production results, particularly in oil, Tudor Pickering analysts say.
Aug. 6, 2014, 12:45 PM
Jul. 15, 2014, 3:58 PM
- Long-term natural gas prices will increase in value, and oil and gas producers are operating in a trough gas price environment, Prime Executions says as it recommends investors start building positions in natural gas weighted E&Ps during H2 2014 and sees the relative value proposition shifting in favor of natural gas over 2015 and beyond (Briefing.com).
- Buy-rated stocks are the highest-percentage dry gas production and reserve weighted companies with the lowest balance sheet leverage and leanest cost structure, the firm says.
- EQT (EQT -0.2%), Rice Energy (RICE -2.3%) and WPX (WPX -2.3%) are initiated with Buy ratings, while Ultra Petroleum (UPL -0.2%) is started at Hold and Bill Barrett (BBG -5.3%) is tagged with a Sell rating.
Jul. 14, 2014, 2:21 PM
- Whiting Petroleum's (WLL +7.4%) $6B buyout of Kodiak Oil & Gas (KOG +5.1%) is renewing investor attention on independent energy firms with operations in the Bakken Shale, especially those significantly owned by hedge funds; Paulson & Co. is the single biggest owner of KOG stock, with just under 10% of shares outstanding as of the last filing date.
- While many of the largest Bakken producers are huge companies or parts of huge companies - Hess (NYSE:HES), EOG, Statoil (NYSE:STO), Marathon Oil (NYSE:MRO), XTO Energy (NYSE:XOM) - a few small and mid-cap independent players show hedge fund interest, CNBC's Brian Sullivan writes.
- The single biggest holder of Oasis Petroleum (OAS +0.5%) also is John Paulson's hedge fund, which owns 9.9M shares (~9.8% of shares outstanding), Jana Partners owns 16M-plus shares in QEP Resources (QEP +1.4%), and WPX Energy (WPX +1.1%) has substantial hedge fund ownership.
May. 6, 2014, 4:34 PM
- WPX Energy (WPX) +2.2% AH after agreeing to sell a working interest in certain of its existing Piceance Basin wells to Legacy Reserves (LGCY) for $355M plus a portion of LGCY's newly-created incentive distribution units.
- The working interests represent 279B cfe of reserves, or ~9% of WPXs year-end 2013 Piceance proved reserves.
Mar. 14, 2014, 6:05 PM
Feb. 10, 2014, 4:45 PM
- WPX Energy (WPX) -6.1% AH after saying its Q4 and FY 2013 financial results will include the impact of up to $1.B in pre-tax impairment charges, due to a decline in forward market natural gas prices, particularly in the Northeast, where Appalachia pricing declined 26% in Q4 and 34% overall during 2013.
- In a separate release, WPX reveals a 2014 capex plan of ~$1.47B, with ~85% of spending allocated to Williston, Piceance and San Juan Gallup development.
Nov. 14, 2013, 5:57 PM
- Intrexon (XON) +4.8% AH after David Einhorn's Greenlight Capital reveals it opened a ~2.1M-share position in the biotech company that went public in August. (13F)
- Greenlight also started positions in NVR and Tempur Sealy (TPX), and added large stakes in WPX Energy (WPX) and Spirit AeroSystems (SPR); it closed positions on Oaktree Capital (OAK), State Bank Financial (STBZ) and Capital Bank Financial (CBF), while selling 20% of its shares in Rite Aid (RAD).
- Its biggest positions are still in Apple (AAPL), 21.1% of the portfolio; GM, 11.3%; and Marvell Technology (MRVL), 9.4%.
Nov. 14, 2013, 5:44 PM
Nov. 14, 2013, 5:03 PM| Comment!
Nov. 7, 2013, 12:58 PM
- WPX Energy (WPX -8.6%) plunges after reporting an adjusted Q3 loss of $0.57/share vs. analyst expectations of $0.21 loss and disappointing production guidance.
- Results also were hurt by lower price realizations, due in part to a legacy 2009 sales agreement in which WPX received lower pricing for 200M cf/day in gas from Rocky Mountain wells.
- Overall production volume hit a record 22.4K bbl/day but expects full-year outlook to come in at the lower end of its forecast range.
- WPX’s Marcellus Shale operations "continue to struggle as infrastructure constraints persist," Tudor Pickering Holt analysts say.
WPX vs. ETF Alternatives
WPX Energy Inc is an independent natural gas and oil exploration and production company engaged in the exploitation and development of long-life unconventional properties. The Company is organized into domestic and international segments.
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