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Upgrade Alert for WPX Energy (WPX)

By Shiri Gupta

WPX Energy (NYSE:WPX) was upgraded from Sector Perform to Outperform at Iberia today. The stock closed yesterday at $8.99 on volume of 19.3 million shares, above average daily volume of 11.9 million.

WPX Energy Inc. is an independent natural gas and oil exploration and production company. The Company is focused on its natural gas reserve base and related NGLs in the Piceance Basin of the Rocky Mountain region, the Bakken Shale oil play in North Dakota, and the Marcellus Shale natural gas play in Pennsylvania.

Potential upside of 31.7% exists for WPX Energy, based on a current level of $8.99 and analysts' average consensus price target of $11.84. The stock should discover initial support at its 200-day moving average (MA) of $6.85 and subsequent support at its 50-day MA of $6.80.

In the past 52 weeks, WPX Energy share prices have been bracketed by a low of $2.53 and a high of $14.65 and closed yesterday at $8.99, 255% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.4% while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of WPX Energy on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.68. Since that recommendation, shares of WPX Energy have risen 48.2%. We continue to monitor WPX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades wpx energy

Ticker(s): WPX