Story updated at 10 a.m. to reflect market activity.
WPX Energy gained 3.1% to $21.96 in morning trading.
The bank set a price target of $28 for the stock. According to Deutsche Bank analysts Stephen Richardson and Josh Silverstein WPX Energy is at an important inflection point.
"Q1 was an important inflection point for WPX; delivering operationally, a deal (and go forward partnership) monetizing a portion of the Piceance and the naming of a new CEO," the analysts wrote. "We continue to see plenty of opportunity for improvements at WPX and while we don't know incoming management yet (the CLR track record speaks volumes) our expectation is that we will see a renewed sense of urgency from WPX. While it is unclear how much of the previous business plan will be retained vs. jettisoned, and investors will need to be patient, the opportunity set at WPX is attractive."
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Separately, TheStreet Ratings team rates WPX ENERGY INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate WPX ENERGY INC (WPX) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."