The S&P 500 was slipping nearly 4 points, or 0.28%, to 1358 in early trades.
Shares of the Tulsa, Okla.- based oil and natural gas exploration company were down nearly 5% to $15.43 after Barclays lowered its rating on the stock to equal weight from overweight. The firm also dropped its 12-month price target by 21% to $19 from $24.
WPX Energy currently trades at an estimated price-to-earnings ratio for next year of 42.58 times; the average among its peers is 25.5X. For comparison, EOG Resources (EOG) has a lower forward P/E of 21.1X.Five of the nine analysts who cover WPX Energy rate it at hold. Three analysts have a buy rating and one is at sell. The stock has fallen 15.19% year to date.
>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: firstname.lastname@example.org. >To follow the writer on Twitter, go to Alexandra Zendrian.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV