UPDATE: RBC Capital Downgrades WPX Energy (WPX) to Sector Perform

(updating comment)

RBC Capital analyst Brad Heffern downgraded WPX Energy (NYSE: WPX) from Outperform to Sector Perform with a price target of $7.00 (from $8.00).

The analyst comments "We downgrade WPX to Sector Perform from Outperform and lower our price target to $7 from $8. This brings our rating on WPX in line with analyst Scott Hanold’s rating on DVN. While we are positive on the we think it is likely to close as offered. This implies no obvious upside to WPX independent of DVN."

For an analyst ratings summary and ratings history on WPX Energy click here. For more ratings news on WPX Energy click here.

Shares of WPX Energy closed at $4.82 yesterday.

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