I Repeat. NFX Mgmt Incompetent. In over their Heads.
I first posted this sentiment in August 2012 and the stock is still dropping as more bad news hits the airwaves. The CEO/CFO should be fired or replaced while they are moved elsewhere within the company.
They have been destroying this stock for far too long.
I have listened to conference calls and noticed that management doesn't know how to manage market expectations. They kill the stock with their unnecessary and fruitless comments.
Anything is possible, but some things are highly improbable. Management needs to learn this and stop killing the markets perception about the positives this company possesses. Newfield has a lot of positives, but every time they start to surface, the current management has a knack for killing them and subsequently the stock price.
The CEO is a great technical guy, but horrible market guy. Newfield needs a CEO who is word smart and great at managing the markets expectations. The market will take even a minor perception of a negative and amplify it to the nth degree. The positives are buried deep within the story and the negatives headlined. That's managements weakness and it has significantly negatively impacted the stock price.
This stock is undervalued, but not a buy for me right now. Under $24 even or below and it's a strong temptation that not even the current incompetent management would keep me from seriously considering taking a long position.