stock market programs: WPX Energy, Inc.(WPX)
Advisors' Opinion:- [By Ben Levisohn]
The large cap E&Ps we cover raised ~ $6.5 billion of equity in 2015 and are likely to consider additional issuance in 2016. Pioneer Natural Resources (PXD) raised $1.3 billion on January 5th and Hess Corp. (HES) raised $1.5 billion of equity/equity-linked earlier this month. We think highly leveraged companies such as Devon Energy,Encana andRange Resources (RRC) and companies with a large deficit (before asset sales), such asAnadarko Petroleum and Devon Energy, are most likely to consider raising equity. Additionally, we believe companies such as WPX Energy (WPX), Southwestern Energy (SWN), Marathon Oil, Continental Resources (CLR),Noble Energy and Newfield Exploration (NFX) could issue equity while several levered companies may be unwilling or unable to access equity markets. We do not think Apache, Canadian Natural Resource, EOG Resources (EOG), Occidental Petroleum orPioneer Natural Resources are likely to issue equity this year.
- [By Ben Levisohn]
Usually, when a company announces that it will sell more shares, its stock prices drops (dilution and all that). Not so WPX Energy (WPX), which announced that it would sell 49.5 million shares worth nearly $500 million. Citigroup’s Jeanine Wai and team explain why investors haven’t been put off by the offering:
- [By Ben Levisohn]
Iron Mountain has gained 2.6% to $26.55 at 3:05 p.m., making it the fourth-best performer in the S&P 500, ahead of WPX Energy (WPX), which has gained 2.4% to $19.94, Pinnacle West Capital (PNW), which has gained 2.3% to $53.55 and Dominion Resources (D), which has risen 2.1% to $59.85.
- [By Ben Levisohn]
As oil nears $50, some investors fret that a new round of production could begin, undermining the nascent recovery. Not so, say Guggenheim’s Subash Chandra and Marshall Coltrain, who expect good things from WPX Energy (! WPX), Devon Energy (DVN) and Continental Resources (CLR). They explain why:
source from Top Stocks For 2015:http://www.topstocksblog.com/stock-market-programs.html
