WPX Energy (WPX): What's In Store This Earnings Season?
Zacks Investment Research | Nov 01, 2016 07:26AM ET
WPX Energy, Inc. (NYSE:WPX) is slated to release its third-quarter earnings after the market closes on Nov 2. In the last reported quarter, the company recorded a negative earnings surprise of 27.27%. Let’s see how things are shaping up prior to this announcement.
Factors to Consider
During the second quarter, WPX Energy raised its oil production guidance for 2016 by 5% to 39–41 thousand barrels of oil per day (Mboe/d) from the earlier expectation of 37–39 M boe/d. We believe that its exposure in the Delaware, Williston and San Juan basins will help the company achieve its production goal for 2016.
Meanwhile, even though oil prices have recovered from the historical lows it had touched this February, the prices are still lower than the prior-year level. As a result, the company will not be able to fully realize the benefits of higher oil production volumes due to ongoing low oil prices.
WPX ENERGY INC Price and EPS Surprise
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