Recap: WPX Energy Q3 Earnings

Shares of WPX Energy WPX rose 1.5% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 22.22% over the past year to $0.11, which beat the estimate of $0.06.

Revenue of $473,000,000 declined by 40.50% from the same period last year, which missed the estimate of $593,020,000.

Guidance

WPX Reports Current Oil Rate ~140K Barrels/Day; Raises Q4 Oil Target To 137K-143K Barrels/Day; Raises FY20 Free Cash Flow Guidance By 50% To $300M+

Price Action

52-week high: $14.43

52-week low: $1.94

Price action over last quarter: down 21.80%

Company Overview

WPX Energy, based in Tulsa, Oklahoma, is an unconventional oil and gas producer with acreage in the Williston Basin (Bakken), the Permian Basin, and the Rockies. At the end of 2019, the company reported net proven reserves of 528 million barrels of oil equivalent. Net production averaged 167 thousand barrels of oil equivalent per day in 2019, at a ratio of 79% liquids and 21% natural gas.