Deutsche Bank Starts WPX Energy (WPX) at Hold

Deutsche Bank initiates coverage on WPX Energy (NYSE: WPX) with a Hold. PT $19.00.

The firm comments, "WPX is a transition E&P, where execution has lagged expectations over its first year as a standalone public entity. The stock trades at discounts to the peer group on all metrics, driven primarily by structural challenges of the business (not asset quality). WPX is actively working to address the margin gap, and with improved execution should begin to close the valuation gap. We look for a path to more tangible operational improvements, and a more aggressive approach to the cost-reduction opportunity. Until further catalysts emerge, we have a Hold rating."

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 $15.08 yesterday.

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