Nexen (NXY)

Add a New Bears Reason Company: Nexen (NXY) Current price: Headline: (100 character max) Analysis: Cancel 100% agree 1 votes   Disappointing results from gas hedges / sales contracts Top Contributor: Jack Bass | Created when NYSE:NXY was $33.86 | Edit | History Nexen reported disappointing Q2 results july 17th, marked by lower-than-expected production, a charge for stock-based compensation and a loss at its gas marketing unit. Record Commodity Prices - BUT Nexen Net Income Flat The company’s revenue rose 48% to $2.07 billion, however net income was nearly flat at $380 million, or $0.70 per share. Cash flow was $946 million, or $1.78 per share – analysts were expecting $2.18 per share. The company said that its Q2 oil production was nearly unchanged from the year-ago quarter (~254,000 barrels of oil per day), reflecting a two-day strike at Scottish refinery that shut down a pipeline serving its massive Buzzard oil field in the North Sea. Nexen also recorded a $240 million after-tax charge for stock-based compensation, while poor results at its marketing arm cut cash flow by $164 million as bets on natural gas price disparities went awry. (100 character max) Cancel

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