Intrinsic value of WPX Energy - WPX

Previous Close

$13.95

  Intrinsic Value

$2.16

stock screener

  Rating & Target

str. sell

-85%

Previous close

$13.95

 
Intrinsic value

$2.16

 
Up/down potential

-85%

 
Rating

str. sell

We calculate the intrinsic value of WPX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -49.27
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  693
  707
  723
  742
  763
  786
  811
  839
  869
  901
  935
  972
  1,012
  1,054
  1,098
  1,146
  1,196
  1,249
  1,305
  1,365
  1,428
  1,494
  1,563
  1,637
  1,715
  1,796
  1,882
  1,973
  2,068
  2,168
  2,273
Variable operating expenses, $m
 
  599
  612
  628
  646
  665
  687
  710
  736
  763
  792
  824
  857
  893
  930
  971
  1,013
  1,058
  1,106
  1,156
  1,209
  1,265
  1,324
  1,387
  1,452
  1,521
  1,594
  1,671
  1,751
  1,836
  1,925
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,425
  599
  612
  628
  646
  665
  687
  710
  736
  763
  792
  824
  857
  893
  930
  971
  1,013
  1,058
  1,106
  1,156
  1,209
  1,265
  1,324
  1,387
  1,452
  1,521
  1,594
  1,671
  1,751
  1,836
  1,925
Operating income, $m
  -732
  108
  111
  113
  117
  120
  124
  128
  133
  138
  143
  149
  155
  161
  168
  175
  183
  191
  200
  209
  218
  229
  239
  250
  262
  275
  288
  302
  316
  332
  348
EBITDA, $m
  -101
  752
  769
  789
  811
  835
  862
  892
  924
  958
  995
  1,034
  1,076
  1,121
  1,168
  1,218
  1,272
  1,328
  1,388
  1,451
  1,518
  1,588
  1,663
  1,741
  1,823
  1,910
  2,001
  2,098
  2,199
  2,305
  2,417
Interest expense (income), $m
  0
  90
  93
  96
  100
  104
  108
  113
  119
  124
  131
  137
  144
  152
  160
  169
  178
  187
  198
  208
  220
  232
  245
  258
  272
  287
  303
  320
  337
  355
  375
Earnings before tax, $m
  -937
  18
  17
  17
  17
  16
  16
  15
  14
  13
  13
  12
  10
  9
  8
  7
  5
  4
  2
  0
  -2
  -3
  -6
  -8
  -10
  -12
  -15
  -18
  -21
  -24
  -27
Tax expense, $m
  -325
  5
  5
  5
  5
  4
  4
  4
  4
  4
  3
  3
  3
  3
  2
  2
  1
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -601
  13
  13
  12
  12
  12
  11
  11
  10
  10
  9
  8
  8
  7
  6
  5
  4
  3
  2
  0
  -2
  -3
  -6
  -8
  -10
  -12
  -15
  -18
  -21
  -24
  -27

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  496
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,264
  6,930
  7,089
  7,272
  7,476
  7,703
  7,951
  8,222
  8,515
  8,831
  9,170
  9,533
  9,920
  10,332
  10,769
  11,234
  11,726
  12,247
  12,798
  13,381
  13,996
  14,644
  15,328
  16,050
  16,809
  17,610
  18,452
  19,339
  20,272
  21,254
  22,287
Adjusted assets (=assets-cash), $m
  6,768
  6,930
  7,089
  7,272
  7,476
  7,703
  7,951
  8,222
  8,515
  8,831
  9,170
  9,533
  9,920
  10,332
  10,769
  11,234
  11,726
  12,247
  12,798
  13,381
  13,996
  14,644
  15,328
  16,050
  16,809
  17,610
  18,452
  19,339
  20,272
  21,254
  22,287
Revenue / Adjusted assets
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
Average production assets, $m
  6,498
  6,628
  6,781
  6,955
  7,151
  7,367
  7,605
  7,864
  8,145
  8,447
  8,771
  9,118
  9,488
  9,882
  10,300
  10,745
  11,216
  11,714
  12,241
  12,798
  13,386
  14,007
  14,661
  15,351
  16,077
  16,843
  17,649
  18,497
  19,389
  20,328
  21,316
Working capital, $m
  77
  -428
  -437
  -449
  -461
  -475
  -491
  -507
  -525
  -545
  -566
  -588
  -612
  -638
  -665
  -693
  -724
  -756
  -790
  -826
  -864
  -904
  -946
  -990
  -1,037
  -1,087
  -1,139
  -1,193
  -1,251
  -1,312
  -1,375
Total debt, $m
  2,575
  2,665
  2,754
  2,856
  2,971
  3,098
  3,238
  3,390
  3,554
  3,731
  3,921
  4,125
  4,342
  4,573
  4,819
  5,079
  5,355
  5,648
  5,957
  6,284
  6,628
  6,992
  7,376
  7,781
  8,207
  8,656
  9,129
  9,626
  10,150
  10,700
  11,280
Total liabilities, $m
  3,798
  3,888
  3,977
  4,079
  4,194
  4,321
  4,461
  4,613
  4,777
  4,954
  5,144
  5,348
  5,565
  5,796
  6,042
  6,302
  6,578
  6,871
  7,180
  7,507
  7,851
  8,215
  8,599
  9,004
  9,430
  9,879
  10,352
  10,849
  11,373
  11,923
  12,503
Total equity, $m
  3,466
  3,042
  3,112
  3,192
  3,282
  3,382
  3,491
  3,610
  3,738
  3,877
  4,026
  4,185
  4,355
  4,536
  4,728
  4,932
  5,148
  5,377
  5,619
  5,874
  6,144
  6,429
  6,729
  7,046
  7,379
  7,731
  8,100
  8,490
  8,899
  9,330
  9,784
Total liabilities and equity, $m
  7,264
  6,930
  7,089
  7,271
  7,476
  7,703
  7,952
  8,223
  8,515
  8,831
  9,170
  9,533
  9,920
  10,332
  10,770
  11,234
  11,726
  12,248
  12,799
  13,381
  13,995
  14,644
  15,328
  16,050
  16,809
  17,610
  18,452
  19,339
  20,272
  21,253
  22,287
Debt-to-equity ratio
  0.743
  0.880
  0.880
  0.890
  0.910
  0.920
  0.930
  0.940
  0.950
  0.960
  0.970
  0.990
  1.000
  1.010
  1.020
  1.030
  1.040
  1.050
  1.060
  1.070
  1.080
  1.090
  1.100
  1.100
  1.110
  1.120
  1.130
  1.130
  1.140
  1.150
  1.150
Adjusted equity ratio
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439
  0.439

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -601
  13
  13
  12
  12
  12
  11
  11
  10
  10
  9
  8
  8
  7
  6
  5
  4
  3
  2
  0
  -2
  -3
  -6
  -8
  -10
  -12
  -15
  -18
  -21
  -24
  -27
Depreciation, amort., depletion, $m
  631
  644
  658
  675
  694
  715
  738
  764
  791
  820
  852
  885
  921
  959
  1,000
  1,043
  1,089
  1,137
  1,188
  1,243
  1,300
  1,360
  1,423
  1,490
  1,561
  1,635
  1,713
  1,796
  1,882
  1,974
  2,070
Funds from operations, $m
  174
  657
  671
  688
  706
  727
  750
  774
  801
  830
  861
  894
  929
  966
  1,006
  1,048
  1,093
  1,140
  1,190
  1,243
  1,298
  1,356
  1,418
  1,483
  1,551
  1,623
  1,698
  1,778
  1,862
  1,950
  2,043
Change in working capital, $m
  -88
  -8
  -10
  -11
  -13
  -14
  -15
  -17
  -18
  -19
  -21
  -22
  -24
  -25
  -27
  -29
  -30
  -32
  -34
  -36
  -38
  -40
  -42
  -45
  -47
  -49
  -52
  -55
  -58
  -61
  -64
Cash from operations, $m
  262
  665
  681
  699
  719
  741
  765
  791
  819
  849
  882
  916
  953
  992
  1,033
  1,077
  1,123
  1,172
  1,224
  1,279
  1,336
  1,396
  1,460
  1,527
  1,598
  1,672
  1,750
  1,833
  1,920
  2,011
  2,107
Maintenance CAPEX, $m
  0
  -631
  -644
  -658
  -675
  -694
  -715
  -738
  -764
  -791
  -820
  -852
  -885
  -921
  -959
  -1,000
  -1,043
  -1,089
  -1,137
  -1,188
  -1,243
  -1,300
  -1,360
  -1,423
  -1,490
  -1,561
  -1,635
  -1,713
  -1,796
  -1,882
  -1,974
New CAPEX, $m
  -578
  -130
  -152
  -174
  -196
  -217
  -238
  -259
  -280
  -302
  -324
  -347
  -370
  -394
  -419
  -444
  -471
  -498
  -527
  -557
  -588
  -620
  -654
  -690
  -727
  -765
  -806
  -848
  -893
  -939
  -988
Cash from investing activities, $m
  310
  -761
  -796
  -832
  -871
  -911
  -953
  -997
  -1,044
  -1,093
  -1,144
  -1,199
  -1,255
  -1,315
  -1,378
  -1,444
  -1,514
  -1,587
  -1,664
  -1,745
  -1,831
  -1,920
  -2,014
  -2,113
  -2,217
  -2,326
  -2,441
  -2,561
  -2,689
  -2,821
  -2,962
Free cash flow, $m
  572
  -96
  -115
  -134
  -152
  -170
  -188
  -206
  -225
  -243
  -263
  -282
  -303
  -324
  -345
  -368
  -391
  -415
  -440
  -467
  -495
  -524
  -554
  -586
  -619
  -654
  -691
  -729
  -769
  -811
  -855
Issuance/(repayment) of debt, $m
  -621
  90
  89
  102
  115
  127
  140
  152
  164
  177
  190
  203
  217
  231
  246
  261
  276
  292
  309
  327
  345
  364
  384
  405
  426
  449
  473
  498
  524
  551
  579
Issuance/(repurchase) of shares, $m
  540
  59
  57
  68
  78
  88
  98
  108
  118
  129
  140
  151
  162
  174
  186
  199
  212
  226
  240
  255
  271
  288
  306
  324
  344
  364
  385
  407
  430
  455
  480
Cash from financing (excl. dividends), $m  
  -96
  149
  146
  170
  193
  215
  238
  260
  282
  306
  330
  354
  379
  405
  432
  460
  488
  518
  549
  582
  616
  652
  690
  729
  770
  813
  858
  905
  954
  1,006
  1,059
Total cash flow (excl. dividends), $m
  476
  53
  32
  36
  41
  45
  49
  54
  58
  63
  67
  72
  77
  82
  87
  92
  98
  103
  109
  115
  122
  129
  136
  143
  151
  159
  167
  176
  185
  195
  205
Retained Cash Flow (-), $m
  69
  -72
  -70
  -80
  -90
  -100
  -109
  -119
  -129
  -139
  -149
  -159
  -170
  -181
  -192
  -204
  -216
  -229
  -242
  -256
  -271
  -288
  -306
  -324
  -344
  -364
  -385
  -407
  -430
  -455
  -480
Prev. year cash balance distribution, $m
 
  496
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  477
  -38
  -44
  -49
  -55
  -60
  -65
  -71
  -76
  -82
  -87
  -93
  -99
  -105
  -112
  -119
  -126
  -133
  -140
  -150
  -160
  -170
  -181
  -193
  -205
  -218
  -231
  -245
  -260
  -275
Discount rate, %
 
  7.00
  7.35
  7.72
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.86
  11.40
  11.97
  12.57
  13.20
  13.86
  14.55
  15.28
  16.04
  16.85
  17.69
  18.57
  19.50
  20.48
  21.50
  22.58
  23.70
  24.89
  26.13
  27.44
  28.81
PV of cash for distribution, $m
 
  445
  -33
  -35
  -36
  -36
  -36
  -35
  -33
  -31
  -29
  -27
  -24
  -21
  -19
  -16
  -13
  -11
  -9
  -7
  -6
  -4
  -3
  -2
  -2
  -1
  -1
  -1
  0
  0
  0
Current shareholders' claim on cash, %
  100
  98.8
  97.6
  96.4
  94.9
  93.4
  91.7
  90.0
  88.2
  86.4
  84.5
  82.6
  80.7
  78.7
  76.8
  74.8
  72.9
  70.9
  69.0
  67.1
  65.3
  63.4
  61.6
  59.8
  58.1
  56.4
  54.7
  53.0
  51.4
  49.8
  48.3

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.

FINANCIAL RATIOS  of  WPX Energy (WPX)

Valuation Ratios
P/E Ratio -8
Price to Sales 6.9
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 18.4
Price to Free Cash Flow -15.2
Growth Rates
Sales Growth Rate -49.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -48.6%
Cap. Spend. - 3 Yr. Gr. Rate -12.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 74.3%
Total Debt to Equity 74.3%
Interest Coverage 0
Management Effectiveness
Return On Assets -7.7%
Ret/ On Assets - 3 Yr. Avg. -8.6%
Return On Total Capital -9.4%
Ret/ On T. Cap. - 3 Yr. Avg. -10.9%
Return On Equity -17.2%
Return On Equity - 3 Yr. Avg. -19.1%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 70%
Gross Margin - 3 Yr. Avg. 70.7%
EBITDA Margin -44.2%
EBITDA Margin - 3 Yr. Avg. 25.4%
Operating Margin -105.6%
Oper. Margin - 3 Yr. Avg. -23.2%
Pre-Tax Margin -135.2%
Pre-Tax Margin - 3 Yr. Avg. -39.2%
Net Profit Margin -86.7%
Net Profit Margin - 3 Yr. Avg. -68.9%
Effective Tax Rate 34.7%
Eff/ Tax Rate - 3 Yr. Avg. 63.8%
Payout Ratio -3%

WPX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WPX stock intrinsic value calculation we used $693 million for the last fiscal year's total revenue generated by WPX Energy. The default revenue input number comes from 2016 income statement of WPX Energy. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our WPX stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7%, whose default value for WPX is calculated based on our internal credit rating of WPX Energy, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of WPX Energy.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of WPX stock the variable cost ratio is equal to 84.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for WPX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for WPX Energy.

Corporate tax rate of 27% is the nominal tax rate for WPX Energy. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the WPX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for WPX are equal to 937.7%.

Life of production assets of 10.3 years is the average useful life of capital assets used in WPX Energy operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for WPX is equal to -60.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3466 million for WPX Energy - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 401.564 million for WPX Energy is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of WPX Energy at the current share price and the inputted number of shares is $5.6 billion.

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COMPANY NEWS

▶ WPX Energy Sells San Juan Gallup Holdings for $700 Million   [Feb-05-18 08:30AM  Business Wire]
▶ Whats Holding Back Natural-Gas-Weighted Stocks Returns?   [Jan-18-18 12:30PM  Market Realist]
▶ Could Natural Gas Rise after Inventory Data?   [04:00PM  Market Realist]
▶ Top 5 Positions in T. Boone Pickens' Portfolio   [Jan-12-18 04:35PM  Investopedia]
▶ Has Natural Gas Outperformed Natural GasWeighted Stocks?   [Jan-04-18 11:35AM  Market Realist]
▶ Natural Gas Inventories Could Boost Natural Gas Prices   [Jan-03-18 02:05PM  Market Realist]
▶ US Natural Gas Production Hit a Record in October   [Jan-02-18 11:30AM  Market Realist]
▶ Is Natural Gas Rising Less Than Natural GasWeighted Stocks?   [Dec-28-17 10:55AM  Market Realist]
▶ Will Fall in Inventories Boost Natural Gas Prices?   [Dec-27-17 09:02AM  Market Realist]
▶ Will US Natural Gas Futures End 2017 on a Low Note?   [Dec-22-17 12:20PM  Market Realist]
▶ WPX Closes $169 Million Non-Core Asset Sale   [Dec-21-17 01:21PM  Business Wire]
▶ WPX Energy Trying To Close In On Key Technical Benchmark   [Dec-15-17 03:00AM  Investor's Business Daily]
▶ WPX Energy to Host Feb. 22 Webcast   [Dec-14-17 12:56PM  Business Wire]
▶ What Does Wall Street Predict for WPX Energy?   [Dec-13-17 07:33AM  Market Realist]
▶ Whats WPX Energys Price Forecast for This Week?   [Dec-12-17 10:32AM  Market Realist]
▶ WPX Energy Earns Relative Strength Rating Upgrade; Hits Key Benchmark   [Dec-11-17 03:00AM  Investor's Business Daily]
▶ Unexpected Rise in US Natural Gas Inventories   [Dec-08-17 10:06AM  Market Realist]
▶ IBD Rating Upgrades: WPX Energy Shows Improved Price Strength   [03:00AM  Investor's Business Daily]
▶ Are Gas-Weighted Stocks Deviating from Natural Gas Prices?   [Dec-05-17 01:05PM  Market Realist]
▶ WPX Energy Sees IBD RS Rating Rise To 74   [03:00AM  Investor's Business Daily]
▶ US Natural Gas Inventories Have Fallen 8% from Last Year   [Nov-24-17 09:15AM  Market Realist]
▶ Which Gas-Weighted Stocks Are Outperforming Natural Gas?   [Nov-21-17 09:44AM  Market Realist]
▶ Is Natural Gas Tracking Oil Prices?   [Nov-20-17 10:31AM  Market Realist]
▶ Weather Could Help Natural Gas Bulls Next Week   [Nov-17-17 09:44AM  Market Realist]
▶ OPECs Meeting Could Help Natural Gas Bears   [Nov-10-17 01:20PM  Market Realist]
▶ WPX Energy Declares Dividend on Preferred Stock   [Nov-09-17 08:45AM  Business Wire]
▶ ETFs with exposure to WPX Energy, Inc. : November 8, 2017   [Nov-08-17 06:43PM  Capital Cube]
▶ WPX Energy Getting Closer To Key Technical Benchmark   [03:00AM  Investor's Business Daily]
▶ These 16 Stocks Look Ready to Reverse   [Nov-06-17 02:30PM  TheStreet.com]
▶ Are Natural Gas Prices Underperforming Crude Oil?   [Nov-02-17 03:52PM  Market Realist]
▶ WPX reports 3Q loss   [Nov-01-17 05:28PM  Associated Press]
▶ Natural GasWeighted Stocks That Are Rising with Oil Prices   [Oct-31-17 12:45PM  Market Realist]
▶ How Oil Prices Matter to Natural Gas   [Oct-26-17 12:36PM  Market Realist]
▶ Oils Moves Are Vital for Gas-Weighted Stocks   [Oct-24-17 01:29PM  Market Realist]
▶ US Natural Gas Consumption Could Help the Prices   [Oct-20-17 01:35PM  Market Realist]
▶ How the Inventory Spread Could Boost Natural Gas Prices   [Oct-19-17 01:36PM  Market Realist]
▶ Will US Natural Gas Prices Take a Tumble in 2018?   [Oct-18-17 07:39AM  Market Realist]
▶ Why US Crude Oil Production Hit a 5-Week Low   [Oct-13-17 03:25PM  Market Realist]
▶ Oil Prices Fell despite the Draw in US Crude Oil Inventories   [Oct-05-17 12:36PM  Market Realist]
▶ WPX Energy to Host Nov. 2 Webcast   [03:12PM  Business Wire]
Financial statements of WPX
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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