By noon, shares had added 6.4% to $27.30.
In the three months to December, the oil and gas producer recorded adjusted net income of $66 million, or 48 cents a share. Analysts surveyed by Thomson Reuters had anticipated earnings of 47 cents a share.
Revenue of $498 million was 23% lower than a year earlier and missed expectations by $86.4 million. Total sales excluded income of $232 million from discontinued operations including the sale of Newfield's Malaysian business and the ongoing divestment of its China business.
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TheStreet Ratings team rates NEWFIELD EXPLORATION CO as a Sell with a ratings score of D+. The team has this to say about their recommendation:
"We rate NEWFIELD EXPLORATION CO (NFX) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and disappointing return on equity."
- You can view the full analysis from the report here: NFX Ratings Report