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6 Stocks to Sell in May

A rising tide floats most boats, but not all

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Stock to Sell #3 – Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NYSE:NFX), a domestic oil and natural gas exploration and production company, has had its earnings estimates revised downward by several analysts following a disappointing Q4 report, which missed estimates by a wide margin. High debt and falling production combine to limit future earnings, and insiders have been heavy sellers. Q1 2013 showed a slight improvement, but NFX still had a net loss of $0.06 per share.

The stock is in a bear market, and in April, it broke below its bearish support line. A recent rally from its low at $19.57 resulted in a rebound, and on May 3, it closed above the 50-day moving average. This positive short-term development could take the stock to $24 where it should be sold.

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Article printed from InvestorPlace Media, http://investorplace.com/2013/05/stocks-to-sell-brli-fcx-nfx-qlgc-syy-tlt/.

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