| WPX Energy Q1 Earnings Surpass Expectation, Down Y/Y - Analyst Blog | |
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Independent oil & gas operator WPX Energy Inc. WPX reported earnings of 9 cents per share in the first quarter of 2015 as against the Zacks Consensus Estimate of a loss of 14 cents. Quarterly earnings however declined 30.8% from the year-ago quarter. WPX Energy Inc. - Earnings Surprise | FindTheCompany On a GAAP basis, WPX Energy reported earnings of 32 cents per share compared with 9 cents per share in the year-ago quarter. The difference between the GAAP and operating figures in the reported quarter was due to unrealized mark-to-market gains resulting from decreases in forward oil and natural gas prices and certain one-time charges and a gain on sale of assets.
Total Revenue
WPX Energy’s quarterly revenues of $572 million lagged the Zacks Consensus Estimate of $612 million by 6.5%. Total revenues were lower than the year-ago figure of $894 million by as much as 36%.
Highlight of the Release
Total average daily production in the first quarter was 705 million cubic feet equivalent per day (MMcf/d), down 11.3% from 795 MMcf/d in the year-ago quarter. Oil production in the reported quarter shot up 79.3%, while natural gas and NGL production trended down nearly 4%.
Total expenses in the reported quarter were $505 million, down 40.7% from the year-ago level of $852 million.
Interest expenses in the reported quarter were $33 million, increasing 13.8% from $29 million in the year-ago quarter.
Financial Update
WPX Energy had $82 million of cash and cash equivalents as of Mar 31, 2015, compared with $41 million at the end of 2014.
Long-term debt as of Mar 31, 2015, was $2,000 million, down from $2,280 million as of Dec 31, 2014.
Net cash from operating activities in the first quarter was $194 million compared with $206 million in the first quarter of 2014.
Guidance
WPX Energy is now targeting growth in oil volumes of 20–25%, up from its prior expectation of 15–20% growth.
The company raised its 2015 production guidance to a range of 152–160 Mboe/d from the earlier estimate of 146–154 Mboe/d.
WPX Energy’s reaffirmed its capital expenditure guidance in the band of $675–$775 million.
Other Company Releases
Murphy Oil Corp. MUR reported a first-quarter 2015 loss of $1.11 per share, wider than the Zacks Consensus Estimate of a loss of 86 cents.
Noble Energy, Inc. NBL reported adjusted earnings of 3 cents per share in the first quarter of 2015, in line with the Zacks Consensus Estimate.
Anadarko Petroleum Corporation APC reported a first-quarter 2015 adjusted loss of 72 cents per share, wider than the Zacks Consensus Estimate of a loss of 63 cents.
Zacks Rank
WPX Energy has a Zacks Rank #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NOBLE ENERGY (NBL): Free Stock Analysis Report MURPHY OIL (MUR): Free Stock Analysis Report ANADARKO PETROL (APC): Free Stock Analysis Report WPX ENERGY INC (WPX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Anadarko
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CODE : APC |
ISIN : US0325111070 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Anadarko is a exploration company based in Canada. Anadarko is listed in Germany and in United States of America. Its market capitalisation is US$ 38.6 billions as of today (€ 34.5 billions). Its stock quote reached its lowest recent point on May 12, 1995 at US$ 10.00, and its highest recent level on May 23, 2014 at US$ 99.93. Anadarko has 531 000 000 shares outstanding. |