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 third-quarter 2018 earnings on Oct 31, after the closing bell.
The upstream energy player beat the Zacks Consensus Estimate in the last reported quarter, the positive earnings surprise being 16.1%. Moreover, the company has an average positive earnings surprise of 17.7% in the trailing four quarters.
Let’s see how things are shaping up for this announcement.
Newfield Exploration Company Price and EPS Surprise
Let’s look at the estimate revision trend to get a clear picture of what analysts expect from the upcoming quarterly release.
The Zacks Consensus Estimate of 84 cents for third-quarter 2018 earnings has been revised upward in the past 30days, with four firms being bullish and three firms with a bearish stance. The figure reflects improvement of 61.5% from the year-ago quarter’s figure.
Further, the Zacks Consensus Estimate for revenues is pegged at $650.2 million, indicating a rise of 48.1% 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 +0.41%. A favorable ESP is 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 #2.
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 $2.39 per thousand cubic feet (Mcf), reflecting an increase from $2.22 per Mcf in the last reported quarter buta decline from $2.58 per Mcf in the year-ago quarter. The Zacks Consensus Estimate for natural gas production is pegged at 40.05 billion cubic feet (Bcf), indicating an improvement from 38.4 Bcf in second-quarter 2018 and 30.6 Bcf in the year-ago quarter.
The average sales price of natural gas liquids is estimated at $31.97 per barrel, reflecting a rise from $28.82 per barrel and $25.72 per barrel in the last reported quarter and year-ago quarter, respectively. Production is expected to rise to 3.90 million barrels (MMBbls), indicating a rise from the year-ago quarter’s 3.28MMBbls and from the last reported quarter’s tally of 3.89MMBbls.
Average crude oil and condensate sales price is expected at $65 a barrel, showing a rise from $64 per barrel in the second quarter and $43.96 per barrel in the prior-year quarter. Production of crude oil per day for the third quarter is expected at 7.22 MMBbls, showing a decline from the previous quarter’s 7.48MMBblsbut a rise from the year-ago quarter’s 6.27MMBbls.
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.
Other Stocks to Consider
Here are a few other companies, which per our model, have the right combination of elements to post an earnings beat in the quarter to be reported.
Plano, TX-based Denbury Resources Inc is an exploration and production (E&P) company engaged in the acquisition, development, operation and exploration of oil as well asnatural gas properties. The company has an Earnings ESP of +10.15% and carries a Zacks Rank #3.
Houston, TX-based Ensco plc is a leading supplier of offshore contract drilling services to the oil and gas industry. The company has an Earnings ESP of +3.65% and a Zacks Rank #3.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Is a Beat in Store for Newfield (NFX) This Earnings Season?
Newfield Exploration Company is expected to report third-quarter 2018 earnings on Oct 31, after the closing bell.
The upstream energy player beat the Zacks Consensus Estimate in the last reported quarter, the positive earnings surprise being 16.1%. Moreover, the company has an average positive earnings surprise of 17.7% in the trailing four quarters.
Let’s see how things are shaping up for this announcement.
Newfield Exploration Company Price and EPS Surprise
Newfield Exploration Company Price and EPS Surprise | Newfield Exploration Company Quote
Which Way Are Estimates Treading?
Let’s look at the estimate revision trend to get a clear picture of what analysts expect from the upcoming quarterly release.
The Zacks Consensus Estimate of 84 cents for third-quarter 2018 earnings has been revised upward in the past 30days, with four firms being bullish and three firms with a bearish stance. The figure reflects improvement of 61.5% from the year-ago quarter’s figure.
Further, the Zacks Consensus Estimate for revenues is pegged at $650.2 million, indicating a rise of 48.1% 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 +0.41%. A favorable ESP is 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 #2.
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 $2.39 per thousand cubic feet (Mcf), reflecting an increase from $2.22 per Mcf in the last reported quarter buta decline from $2.58 per Mcf in the year-ago quarter. The Zacks Consensus Estimate for natural gas production is pegged at 40.05 billion cubic feet (Bcf), indicating an improvement from 38.4 Bcf in second-quarter 2018 and 30.6 Bcf in the year-ago quarter.
The average sales price of natural gas liquids is estimated at $31.97 per barrel, reflecting a rise from $28.82 per barrel and $25.72 per barrel in the last reported quarter and year-ago quarter, respectively. Production is expected to rise to 3.90 million barrels (MMBbls), indicating a rise from the year-ago quarter’s 3.28MMBbls and from the last reported quarter’s tally of 3.89MMBbls.
Average crude oil and condensate sales price is expected at $65 a barrel, showing a rise from $64 per barrel in the second quarter and $43.96 per barrel in the prior-year quarter. Production of crude oil per day for the third quarter is expected at 7.22 MMBbls, showing a decline from the previous quarter’s 7.48MMBblsbut a rise from the year-ago quarter’s 6.27MMBbls.
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.
Other Stocks to Consider
Here are a few other companies, which per our model, have the right combination of elements to post an earnings beat in the quarter to be reported.
Enterprise Products Partners L.P. (EPD - Free Report) , based in Houston, TX, is a leading midstream energy player in North America. The company has an Earnings ESP of +0.89% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Plano, TX-based Denbury Resources Inc is an exploration and production (E&P) company engaged in the acquisition, development, operation and exploration of oil as well asnatural gas properties. The company has an Earnings ESP of +10.15% and carries a Zacks Rank #3.
Houston, TX-based Ensco plc is a leading supplier of offshore contract drilling services to the oil and gas industry. The company has an Earnings ESP of +3.65% and a Zacks Rank #3.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>