Johnson Rice Upgrades Plains Exploration & Production Company to Overweight (PXP)

By admin | 6 years ago

Plains Exploration & Production Company (NYSE: PXP) was upgraded by analysts at Johnson Rice to an “overweight” rating in a research report issued to clients and investors on Friday.

Several other analysts have also recently commented on the stock. Analysts at Dahlman Rose raised their price target on shares of Plains Exploration & Production Company from $50.00 to $60.00 in a research note to investors on Monday, April 9th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Plains Exploration & Production Company in a research note to investors on Thursday, April 5th. They now have a $43.00 price target on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Plains Exploration & Production Company from $51.00 to $54.00 in a research note to investors on Friday, March 9th. They now have an “overweight” rating on the stock.

Plains Exploration & Production Company traded down 0.22% on Friday, hitting $40.06. Plains Exploration & Production Company has a 52-week low of $20.25 and a 52-week high of $47.13. The company has a market cap of $5.164 billion and a price-to-earnings ratio of 105.94.

Plains Exploration & Production Company last posted its quarterly earnings results on Thursday, May 3rd. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.03. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. Analysts expect that Plains Exploration & Production Company will post $0.85 EPS next quarter.

Plains Exploration & Production Company (PXP) is an independent oil and gas company engaged in the activities of acquiring, developing, exploring and producing oil and gas properties primarily in the United States.

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