I did think that Newfield Exploration (NYSE:NFX) was undervalued by the Street
back in mid-Feburary, but more on the order of 40% and not the nearly
75% move the stock has delivered since then. Selling the Granite Wash
assets for nearly $600 million was a nice development and the company
has posted good results from recent wells drilled in Oklahoma and the
Uinta. Looking ahead, the company is prioritizing the de-risking of the
Oklahoma SCOOP and STACK plays and looking to sell its Chinese assets. I
may yet be underestimating the potential here, but a 75% move in six
and a half months seems like plenty for now.
Follow this link to read more:
Can Newfield Exploration Make Another Major Move?
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