NFX - Newfield Exploration Hit A 52-Week Low Ahead Of Earnings This Week
Oil and gas production stocks have gotten hit hard over the last few weeks. Since the beginning of October, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is down just over 17%, while the S&P 500 is down 8.76%. Few, if any, stocks have been spared during this industry-wide selloff. One of the companies that has been hit the hardest is Newfield Exploration (NFX), and it is down over 30% since the beginning of the month.
Newfield is set to announce earnings after the closing bell on Wednesday,