Newfield Exploration Co.NFX reported adjusted first-quarter 2016 loss of 9 cents per share, narrower than the Zacks Consensus Estimate of a loss of 10 cents by 10%. The company had reported adjusted profit of 3 cents per share a year ago. The year-over-year decline was due to lower oil and gas prices.Newfield Exploration Company (NFX) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany The company’s total revenue plunged 18.6% year over year to $284 million and also lagged the Zacks Consensus Estimate of $317.0 million.Operational PerformanceTotal quarterly production of 15.2 million barrels of oil equivalent (MMBoe) comprised 46.1% oil, 16.4% natural gas liquids (NGLs) and 37.5% natural gas.Natural gas volumes amounted to 34.4 billion cubic feet (Bcf). Oil, condensate and NGLs volumes came in at 9.5 million barrels (MMBbls).Newfield’s first-quarter oil and natural gas price realizations (including the effect of hedges) averaged $24.46 per barrel of oil equivalent (Boe). Natural gas prices were $2.18 per thousand cubic feet (Mcf), oil prices were $36.82 per barrel, and NGLs prices were $14.75 per barrel.Recurring lease operating expenses ("LOE") were $3.84 per Boe. Production and other taxes were 65 cents per Boe, while general and administrative expenses totaled $2.94 per Boe.FinancialsAt the quarter end, Newfield had cash balance of $537.0 million. Long-term debt was $2,429.0 million, which represents a debt-to-capitalization ratio of approximately 61.2%.GuidanceFor 2016, Newfield anticipates output in the range of 54.5–56.5 MMBoe. The company also projects LOE at $254 million, while production and other taxes of $46 million are expected. General and administration expenses are estimated at $172 million. The company anticipates capital expenditure for the year in the range of $625–675 million.Zacks Rank and Key Stock PicksNewfield Exploration currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are Bonanza Creek Energy, Inc. BCEI, Evolution Petroleum Corp. EPM and EXCO Resources Inc. XCO. Each of these stocks holds a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NEWFIELD EXPL (NFX): Free Stock Analysis Report EVOLUTION PETRO (EPM): Free Stock Analysis Report EXCO RESOURCES (XCO): Free Stock Analysis Report BONANZA CREEK (BCEI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research