WPX Energy (WPX) Stock Climbs on Mixed Third Quarter Results
NEW YORK (TheStreet) -- Shares of WPX Energy (WPX) - Get Report are up by 4.38% to $8.81 in late morning trading on Friday, following the release of the company's third quarter earnings results on Thursday after the close.
The Tulsa, OK-based oil company reported a net loss of $230 million, after reporting a profit in the year ago period, or a loss of 17 cents per share on an adjusted basis.
Analysts on average were expecting the company to report a net loss of 12 cents per share.
However, the company reported revenue of $537 million, topping analysts' $527.5 million expectations.
Separately, TheStreet Ratings team rates WPX ENERGY INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
We rate WPX ENERGY INC (WPX) a SELL. This is driven by some concerns, 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 unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
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