WPX a true value ahead of earnings 2/26
A couple months ago, WPX Energy announced that it was raising its production forecast for 2020 and will initiate a dividend sometime this year. The share price appropriately rocketed to $14 or so. Over the last few months of weak oil prices, it's come back down to as low as $11.50. However, it's now making a rounding bottom, with oil prices strengthening thanks to the coronavirus slowdown.
According to Fidelity, WPX now has the fourth best PEG ratio in the entire market, at 0.07. Zacks puts the PEG higher, but still good at 0.54. WPX's analyst summary score is 6.6/10. WPX has earnings coming up on February 26, so there's some risk to buying now. (WPX doesn't have a great history of beating estimates.) On the other hand, this could be the earnings report on which they initiate their dividend, in which case the price should rise regardless of the earnings result. I am tentatively forecasting $20 per share by early next year, though I've no idea when it will run.
According to Fidelity, WPX now has the fourth best PEG ratio in the entire market, at 0.07. Zacks puts the PEG higher, but still good at 0.54. WPX's analyst summary score is 6.6/10. WPX has earnings coming up on February 26, so there's some risk to buying now. (WPX doesn't have a great history of beating estimates.) On the other hand, this could be the earnings report on which they initiate their dividend, in which case the price should rise regardless of the earnings result. I am tentatively forecasting $20 per share by early next year, though I've no idea when it will run.
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