Why Newfield Exploration Company (NFX) Could Be Positioned For A Surge

Newfield Exploration Company (NYSE:NFX) is an independent energy company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NFX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Newfield Exploration could be a solid choice for investors.

Current Quarter Estimates for NFX

In the past 60 days, six estimates have gone higher for Newfield Exploration while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 57 cents a share 60 days ago, to 62 cents a share today, a move of 8.8%.

Current Year Estimates for NFX

Meanwhile, Newfield Exploration’s current year figures are also looking quite promising, with eight estimates moving higher in the past two month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.04 per share 30 days ago to $2.14 per share today, a move of 4.9%.

Newfield Exploration Company Price and Consensus

Newfield Exploration Company Price and Consensus | Newfield Exploration Company Quote

Bottom Line

The stock has also started to move higher lately, adding 16.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Zacks Editor-in-Chief Goes "All In" on This Stock

Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.

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