Newfield Exploration Co. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Newfield Exploration Co. (NYSE:NFX) will unveil its latest earnings on Thursday, October 20, 2011. Newfield Exploration acquires and explores natural gas and crude oil properties in the U.S. and abroad.

Newfield Exploration Co. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.16 per share, a rise of 5.5% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.36. Between one and three months ago, the average estimate moved down. It also has dropped from $1.21 during the last month. Analysts are projecting profit to rise by 1.6% versus last year to $4.42.

Past Earnings Performance: The company fell short of estimates last quarter after topping forecasts the quarter prior. In the second quarter, it reported net income of $1.02 per share against a mean estimate of $1.07. Two quarters ago, it beat expectations by 7 cents with profit of 98 cents.

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Wall St. Revenue Expectations: On average, analysts predict $702.3 million in revenue this quarter, a rise of 56.4% from the year ago quarter. Analysts are forecasting total revenue of $2.66 billion for the year, a rise of 41.5% from last year’s revenue of $1.88 billion.

Analyst Ratings: Analysts are bullish on this stock with 17 analysts rating it as a buy, one rating it as a sell and five rating it as a hold.

A Look Back: In the second quarter, profit rose more than twofold to $219 million ($1.62 a share) from $96 million (72 cents a share) the year earlier, but fell short analyst expectations. Revenue rose 38.6% to $621 million from $448 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 26.2%, with the biggest boost coming in the most recent quarter when revenue rose 38.6% from the year earlier quarter.

Competitors to Watch: Harvest Natural Resources, Inc. (NYSE:HNR), Hess Corp. (NYSE:HES), Anadarko Petroleum Corp. (NYSE:APC), EOG Resources, Inc. (NYSE:EOG), Noble Energy, Inc. (NYSE:NBL), Devon Energy Corporation (NYSE:DVN), GeoResources, Inc. (NASDAQ:GEOI), Stone Energy Corporation (NYSE:SGY), Chesapeake Energy Corp. (NYSE:CHK), and Carrizo Oil & Gas, Inc. (NASDAQ:CRZO).

Stock Price Performance: During July 21, 2011 to October 14, 2011, the stock price had fallen $31.17 (-42.8%) from $72.85 to $41.68. The stock price saw one of its best stretches over the last year between November 30, 2010 and December 7, 2010 when shares rose for six-straight days, rising 7% (+$4.65) over that span. It saw one of its worst periods between July 22, 2011 and August 8, 2011 when shares fell for 12-straight days, falling 32.4% (-$23.60) over that span. Shares are down $30.43 (-42.2%) year to date.

(Source: Xignite Financials)

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