We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is a Beat in Store for Newfield (NFX) This Earnings Season?
Read MoreHide Full Article
Newfield Exploration Company is expected to report second-quarter 2018 earnings on Jul 31, after the closing bell.
The upstream energy player beat the Zacks Consensus Estimate in the last reported quarter, the positive earnings surprise being 15.5%. Moreover, the company has an average positive earnings surprise of 13.1% in the trailing four quarters.
Newfield Exploration Company Price and EPS Surprise
Let’s see how things are shaping up for this announcement.
Which Way Are Estimates Treading?
Let’s look at the estimate revision trend to get a clear picture of what analysts expect from the company’s upcoming quarterly release.
The Zacks Consensus Estimate of 83 cents for second-quarter 2018 earnings has been revised upward over the last seven days, with three firms being bullish and one firm taking a bearish stance. It reflects an improvement of about 93% from the year-ago quarter’s figure.
Further, the Zacks Consensus Estimate for revenues is pegged at $613.9 million, indicating a rise of 52.7% from the prior-year quarter’s tally.
Earnings Whisper
Our proven model shows that Newfield is likely to beat estimates this quarter. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen.
Earnings ESP: Newfield’s Earnings ESP is +0.82%. This is because the Most Accurate Estimate is at 84 cents and the Zacks Consensus Estimate is pegged at 83 cents. A favorable ESP serves as a leading indicator of a likely positive surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Newfield has a Zacks Rank #3.
Conversely, Sell-rated stocks (Zacks Rank #4 or 5) should never be considered going into an earnings announcement.
Factors to Consider
The Zacks Consensus Estimate for average sale price of natural gas is pegged at $2.46 per thousand cubic feet (Mcf), reflecting a decline from $2.70 per Mcf in the last reported quarter and $2.75 per Mcf in the year-ago quarter. The Zacks Consensus Estimate for natural gas production is pegged at 37.41 billion cubic feet (Bcf), indicating an improvement from 36.1Bcf in first-quarter 2017 and 30Bcf in the year-ago quarter.
The average sales price of natural gas liquids is estimated at $29.49 per barrel, reflecting a rise from $28.04 per barrel and $24.54 per barrel in the last reported quarter and year-ago quarter, respectively. Production is expected to rise to 3.34 million barrels (MMBbls), indicating a rise from the year-ago quarter’s 2.49 MMBbls and from the last reported quarter’s 3.16 MMBbls.
Average crude oil and condensate sales price is expected at $60 a barrel, showing a rise from $58 per barrel in the first quarter and $43.42 per barrel in the prior-year quarter. Production of crude oil per day for the second quarter is expected at 7.24MMBbls, showing a rise from the previous quarter’s 6.71 MMBbls and the year-ago quarter’s 5.96 MMBbls.
We expect the company to deliver higher oil and liquids production figures in the upcoming quarterly results, which will also reflect the impact of price hike.
Q2 Price Performance
During the second quarter, Newfield’s shares outperformed the industry. The company’s shares gained 23.9% compared with the industry’s 12.4% rise.
Stocks to Consider
Here are a few companies, which per our model, have the right combination of elements to post an earnings beat in the quarter to be reported.
Canadian Natural Resources Limited (CNQ - Free Report) , based in Calgary, Alberta, is anindependent exploration and production (E&P) company. The company has an Earnings ESP of +1.42% and flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Occidental Petroleum Corporation (OXY - Free Report) is an international oil and gas exploration and production company. The company has an Earnings ESP of +1.75% and carries a Zacks Rank #2.
Houston, TX-based EOG Resources, Inc (EOG - Free Report) is a major independent oil and gas exploration and production company. The company has an Earnings ESP of +2.02% and a Zacks Rank #3.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Image: Bigstock
Is a Beat in Store for Newfield (NFX) This Earnings Season?
Newfield Exploration Company is expected to report second-quarter 2018 earnings on Jul 31, after the closing bell.
The upstream energy player beat the Zacks Consensus Estimate in the last reported quarter, the positive earnings surprise being 15.5%. Moreover, the company has an average positive earnings surprise of 13.1% in the trailing four quarters.
Newfield Exploration Company Price and EPS Surprise
Newfield Exploration Company Price and EPS Surprise | Newfield Exploration Company Quote
Let’s see how things are shaping up for this announcement.
Which Way Are Estimates Treading?
Let’s look at the estimate revision trend to get a clear picture of what analysts expect from the company’s upcoming quarterly release.
The Zacks Consensus Estimate of 83 cents for second-quarter 2018 earnings has been revised upward over the last seven days, with three firms being bullish and one firm taking a bearish stance. It reflects an improvement of about 93% from the year-ago quarter’s figure.
Further, the Zacks Consensus Estimate for revenues is pegged at $613.9 million, indicating a rise of 52.7% from the prior-year quarter’s tally.
Earnings Whisper
Our proven model shows that Newfield is likely to beat estimates this quarter. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen.
Earnings ESP: Newfield’s Earnings ESP is +0.82%. This is because the Most Accurate Estimate is at 84 cents and the Zacks Consensus Estimate is pegged at 83 cents. A favorable ESP serves as a leading indicator of a likely positive surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Newfield has a Zacks Rank #3.
Conversely, Sell-rated stocks (Zacks Rank #4 or 5) should never be considered going into an earnings announcement.
Factors to Consider
The Zacks Consensus Estimate for average sale price of natural gas is pegged at $2.46 per thousand cubic feet (Mcf), reflecting a decline from $2.70 per Mcf in the last reported quarter and $2.75 per Mcf in the year-ago quarter. The Zacks Consensus Estimate for natural gas production is pegged at 37.41 billion cubic feet (Bcf), indicating an improvement from 36.1Bcf in first-quarter 2017 and 30Bcf in the year-ago quarter.
The average sales price of natural gas liquids is estimated at $29.49 per barrel, reflecting a rise from $28.04 per barrel and $24.54 per barrel in the last reported quarter and year-ago quarter, respectively. Production is expected to rise to 3.34 million barrels (MMBbls), indicating a rise from the year-ago quarter’s 2.49 MMBbls and from the last reported quarter’s 3.16 MMBbls.
Average crude oil and condensate sales price is expected at $60 a barrel, showing a rise from $58 per barrel in the first quarter and $43.42 per barrel in the prior-year quarter. Production of crude oil per day for the second quarter is expected at 7.24MMBbls, showing a rise from the previous quarter’s 6.71 MMBbls and the year-ago quarter’s 5.96 MMBbls.
We expect the company to deliver higher oil and liquids production figures in the upcoming quarterly results, which will also reflect the impact of price hike.
Q2 Price Performance
During the second quarter, Newfield’s shares outperformed the industry. The company’s shares gained 23.9% compared with the industry’s 12.4% rise.
Stocks to Consider
Here are a few companies, which per our model, have the right combination of elements to post an earnings beat in the quarter to be reported.
Canadian Natural Resources Limited (CNQ - Free Report) , based in Calgary, Alberta, is anindependent exploration and production (E&P) company. The company has an Earnings ESP of +1.42% and flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Occidental Petroleum Corporation (OXY - Free Report) is an international oil and gas exploration and production company. The company has an Earnings ESP of +1.75% and carries a Zacks Rank #2.
Houston, TX-based EOG Resources, Inc (EOG - Free Report) is a major independent oil and gas exploration and production company. The company has an Earnings ESP of +2.02% and a Zacks Rank #3.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>