NEW YORK (TheStreet) -- Shares of WPX Energy Inc. (WPX) are higher by 4.04% to $22.43 today after the company reported net income of $18 million, or 9 cents per diluted share for the 2014 first quarter, compared to a net loss of -$116 million, or -58 cents per diluted share from the year ago quarter.
The natural gas and oil exploration and production company said domestic natural gas revenue increased 44% and domestic oil revenue grew 34% for the most recent quarter.
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TheStreet Ratings team rates WPX ENERGY INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate WPX ENERGY INC (WPX) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: