In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), WPX Energy Inc. (NYSE:WPX) reported that Point72 Asset Management has picked up 20,437,851 of common stock as of 2017-04-12.
The acquisition brings the aggregate amount owned by Point72 Asset Management to a total of 20,437,851 representing a 5.1% stake in the company.
For those not familiar with the company, WPX Energy, Inc. is an oil and natural gas exploration and production company. The Company is engaged in the exploitation and development of unconventional properties. It operates in the exploration and production segment of the oil and gas industry and its operations are conducted in the United States. It is focused on exploiting, developing and growing its oil positions in the Delaware (a subset of the Permian Basin) and San Juan Basins in the southwestern United States and the Williston Basin in North Dakota. As of December 31, 2016, it operated 642 wells in the Delaware Basin and also owned interests in 783 wells operated by others. As of December 31, 2016, it held approximately 98,000 acres in the Delaware Basin, with operations located in Eddy, Lea and Chaves Counties in New Mexico and Loving, Pecos, Reeves, Ward and Winkler Counties in Texas. Its activity in the Delaware Basin is focused on the Wolfcamp Shale formation, the Bone Spring interval and the Delaware sand interval.
A glance at WPX Energy Inc. (NYSE:WPX)’s key stats reveals a current market capitalization of 5.01 Billion based on 397.42 Million shares outstanding and a price at last close of $12.90 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-01-12, Muncrief picked up 20,000 at a purchase price of $13.35. This brings their total holding to 732,481 as of the date of the filing.
On the sell side, the most recent transaction saw Faulkner unload 5,000 shares at a sale price of $9.88. This brings their total holding to 35,754.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on WPX Energy Inc. (NYSE:WPX) as things move forward to see if its progress aligns with these transactions.
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