During Tuesday’s afternoon trade, Shares of Newfield Exploration Co. (NYSE:NFX), gain 2.44% to $36.57.
Newfield Exploration Company (NFX) will host its second quarter 2015 earnings conference call at 10:00 a.m. (CST), Wednesday, August 5, 2015. The Company plans to release its second quarter earnings after market close on August 4, 2015.
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. The company’s primary areas of operation comprise the Mid-Continent, Rocky Mountains, and onshore Gulf Coast regions in the United States. It also holds offshore oil developments in China. As of December 31, 2014, the company had proved reserves of 645 million barrels of oil equivalent. Newfield Exploration Company was founded in 1988 and is headquartered in The Woodlands, Texas.
Shares of Trinity Industries Inc (NYSE:TRN), declined -0.46% to $25.70, during its afternoon trading session.
Trinity Industries Inc (TRN) declared that the United States District Court for the Eastern District of Texas, Marshall Division, has entered judgment in the federal False Claims Act (the “Act”) case filed against the Company by Joshua Harman involving the ET Plus® System (“ET Plus”). Trinity Highway Products, LLC manufactures the ET Plus following exclusive licensing granted by the Texas A&M University System. The judgment was predictable after post-verdict, court-ordered mediation failed to resolve the numerous legal issues involved.
In October 2014, a jury awarded $175.0 million in damages in this case which alleged certain violations of the Act. Under the Act, the award is automatically trebled to $525.0 million. In addition, the District Court imposed civil penalties in the amount of $138.4 million and awarded attorney’s fees, expenses and costs to the relator in the amount of $19.0 million. The amount of the total judgment is $682.4 million. To appeal the case, the Company may be required to post a supersedeas bond that could equal the amount of the judgment entered plus interest, which the Company anticipates to obtain on an unsecured basis.
Trinity Industries, Inc. provides various products and services for the energy, transportation, chemical, and construction sectors in the United States and internationally. Its Rail Group segment offers railcars, counting autorack, box, covered hopper, gondola, intermodal, tank, and open hopper cars; and couplers, axles, and other equipment, in addition to railcar maintenance services. This segment serves railroads, leasing companies, and industrial shippers of various products.
CIGNA Corporation (NYSE:CI), during its Tuesday’s afternoon trading session gained 0.49% to $155.82.
The Cigna Foundation will bring the spirit of partnership to Chicago as it hosts its first-ever World of Difference Summit on July 15-16 at the W Chicago, Lakeshore. The Summit will bring together the Cigna Foundation’s major non-profit grant partners working around the country, and around the world, in addition to many leading Chicago nonprofits, to “Spread the Health” by learning from each other and exploring opportunities to work together. The World of Difference Summit is built around the theme of partnership – partnership among the corporate for-profit world and non-profits, and partnership among non-profit organizations themselves.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. The company’s Commercial segment offers insured and self-insured customers medical, dental, behavioral health, and vision, in addition to prescription drug benefit plans, health advocacy programs, and other products and services. Its Government segment offers Medicare Advantage plans to seniors in 16 states and the District of Columbia, Medicare Part D plans in 50 states and the District of Columbia, and Medicaid plans. The company’s Group Disability and Life segment provides group long-term and short-term disability insurance, group life insurance, and accident and specialty insurance.
Finally, Synergy Resources Corp (NYSEMKT:SYRG), gained 1.88%, to $11.36.
Synergy Resources Corporation(KT: SYRG) a U.S. oil and gas exploration and production company focused in the Denver-Julesburg Basin, recently stated its fiscal third quarter results for the period ended May 31, 2015.
Third Quarter 2015 Financial Results
- Revenues for the fiscal 2015 third quarter raised 1.4% to $26.0 million from $25.7 million in the same quarter a year ago. The year-over-year improvement was the result of a 95% enhance in production, primarily from the new horizontal wells brought on line and production from acquisitions and asset swaps with other operators. Revenue growth was offset by a 48% decrease in the realized average selling price per BOE. During fiscal Q3 2015, average selling prices were $45.77 per barrel of oil and $3.16 per mcf of gas contrast to $90.91 and $5.15, respectively, a year ago.
- Net loss of $2.5 million or $0.2 per basic and diluted share is inclusive of a $3 million full cost ceiling impairment charge resulting from lower oil and gas prices. This compares with net income of $7.2 million, or $0.09 per basic and diluted share in the third fiscal quarter of 2014.
- Adjusted EBITDA (a non-GAAP metric) raised 31% to $24.9 million up from $18.9 million a year ago.
- At May 31, 2015, cash and cash equivalents totaled $190.2 million. Borrowings under the credit facility were $141.0 million.
Third Quarter 2015 Highlights
- Net oil and natural gas production raised to 738,357 barrels of oil equivalent (BOE), averaging 8,026 BOE per day, contrast to 379,081 BOE, or an average of 4,120 BOE per day, in the same quarter one year ago, an average daily enhance of 95%.
- Operated 52 gross producing horizontal wells in the Wattenberg Field as of May 31st, 2015.
- 28 additional operated horizontal wells were awaiting completion and 4 more operated horizontal wells were in the drilling process as of May 31, 2015.
Synergy Resources Corporation engages in the acquisition, development, exploitation, exploration, and production of oil and natural gas properties primarily located in the Denver-Julesburg Basin in northeast Colorado. It holds interests in the Wattenberg field covering about 31,000 net developed and undeveloped acres located in Colorado; and Northern Extension area covering about 26,000 undeveloped acres.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
