TULSA, Okla. (AP) _ WPX Energy Inc. (WPX) on Wednesday reported a loss of $172 million in its fourth quarter.
The Tulsa, Oklahoma-based company said it had a loss of 51 cents per share. Losses, adjusted for non-recurring costs and to account for discontinued operations, were 16 cents per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.
The independent oil and gas company posted revenue of $88 million in the period. Its adjusted revenue was $236 million, which missed Street forecasts. Eight analysts surveyed by Zacks expected $297.6 million.
For the year, the company reported that its loss narrowed to $601 million, or $2.05 per share. Revenue was reported as $693 million.
WPX shares have dropped slightly more than 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.20, more than tripling 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
Keywords: WPX Energy, Earnings Report