Newfield Exploration is Zacks "Bull of the Day"

[dan_s]

Comments below from Zacks Equity Research on December 30:

Bull of the Day:

Thanks to the recent OPEC deal and a better economic outlook, investors are once again returning to the energy sector. Estimates have also been on the rise for this market too, and the energy segment now has a top 20% sector rank heading into 2017.

But with such strength, how do you find the best positioned names? Well, looking at some of the promising industries in the oil sector which look to benefit from recent trends is an excellent idea. In particular, companies in the exploration market look to perform quite well, while a U.S-focus isn’t going to hurt matters either.

In terms of these companies, one that just received an upgrade and could be worth a closer look is Newfield Exploration (NYSE:NFX –Free Report). Not only has this company just received a bump in its rank, but the stock has seen rising earnings estimates and is down a bit from its 2016 highs, making it a perfect candidate for a bounce in 2017.

Recent Estimates

Analysts have been nearly universally raising their estimates for NFX stock, as the company has seen 13 estimates go higher in the past two months compared to zero lower, while we have seen twelve estimates go higher for the following year compared to zero lower.

While this is certainly impressive, the magnitude of the estimate increases is arguably even more astounding, as the company has seen the consensus estimate surge by about 37% for the full year and 43% for the next year time frame. Add in the fact that the most recent estimates for NFX have been even more positive than the consensus—5.6% higher to be more exact—and you can see why a bullish story is developing, even if the stock price hasn’t gone in the right direction as of late.

[wilmawatts]

* the company has seen 13 estimates go higher in the past two months compared to zero lower *

I'm in here, thanks!

[wilmawatts]

On January 5, 2017 Zacks Investment Research, Inc. upgraded NEWFIELD EXPLORATION CO ( NFX ) from HOLD to BUY.