Newfield Exploration Co. (NFX) was a big mover last session, as the company saw its shares rise nearly 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company as the stock is now down 15.9% in the past one-month time frame.
This U.S.-based oil exploration and production firm witnessed one positive estimate revision and six negative estimate revisions in the past 30 days. The Zacks Consensus Estimate also moved down over the same time frame, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.
Newfield Exploration has a Zacks Rank #3 (Hold), while its Earnings ESP is negative.
However, some better-ranked stocks in the same sector worth considering include Cobalt International Energy, Inc. (CIE), Halcon Resources Corp. (HK) and Midstates Petroleum Company, Inc. (MPO). While Cobalt International Energy sports a Zacks Rank #1 (Strong Buy), Halcon Resources and Midstates Petroleum hold a Zacks Rank #2 (Buy).
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