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Newfield Exploration Company (NFX) Marked As A Barbarian At The Gate

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Newfield Exploration Company (NFX) as a "barbarian at the gate" (strong stocks crossing above resistance with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Newfield Exploration Company as such a stock due to the following factors:

  • NFX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $68.5 million.
  • NFX has traded 2.8 million shares today.
  • NFX traded in a range 207.7% of the normal price range with a price range of $1.54.
  • NFX traded above its daily resistance level (quality: 122 days, meaning that the stock is crossing a resistance level set by the last 122 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Barbarian at the Gate' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying positive price action. In this case, the stock crossed an important inflection point; namely, 'resistance' while at the same time the range of the stock's movement in price is more than twice its normal size. This large range foreshadows a possible continuation as the stock moves higher.

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More details on NFX:

Newfield Exploration Company, an independent energy company, is engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. Its primary areas of operation include the Mid-Continent, the Rocky Mountains, and onshore Gulf Coast. NFX has a PE ratio of 35.8. Currently there are 8 analysts that rate Newfield Exploration Company a buy, no analysts rate it a sell, and 7 rate it a hold.

The average volume for Newfield Exploration Company has been 2.8 million shares per day over the past 30 days. Newfield has a market cap of $3.9 billion and is part of the basic materials sector and energy industry. The stock has a beta of 1.34 and a short float of 4.9% with 2.57 days to cover. Shares are up 15.2% year-to-date as of the close of trading on Thursday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Newfield Exploration Company as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet.

Highlights from the ratings report include:

  • The revenue growth greatly exceeded the industry average of 7.8%. Since the same quarter one year prior, revenues rose by 41.5%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • NEWFIELD EXPLORATION CO reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, NEWFIELD EXPLORATION CO turned its bottom line around by earning $0.80 versus -$6.70 in the prior year. This year, the market expects an improvement in earnings ($1.89 versus $0.80).
  • Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. We feel that the combination of its price rise over the last year and its current price-to-earnings ratio relative to its industry tend to reduce its upside potential.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Oil, Gas & Consumable Fuels industry and the overall market, NEWFIELD EXPLORATION CO's return on equity significantly trails that of both the industry average and the S&P 500.
  • The debt-to-equity ratio of 1.25 is relatively high when compared with the industry average, suggesting a need for better debt level management. To add to this, NFX has a quick ratio of 0.51, this demonstrates the lack of ability of the company to cover short-term liquidity needs.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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