TULSA, Okla. (AP) _ WPX Energy Inc. (WPX) on Wednesday reported fourth-quarter net income of $354 million, after reporting a loss in the same period a year earlier.
The Tulsa, Oklahoma-based company said it had profit of 83 cents per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, were 2 cents per share.
The results did not meet Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The independent oil and gas company posted revenue of $1.02 billion in the period. Its adjusted revenue was $544 million, which also fell short of Street forecasts. Twelve analysts surveyed by Zacks expected $560.4 million.
For the year, the company reported net income of $143 million, or 35 cents per share, swinging to a profit in the period. Revenue was reported as $2.03 billion.
WPX shares have increased 18 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.41, a fall of nearly 4 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WPX at https://www.zacks.com/ap/WPX