Q3 2016 EPS Estimates for Newfield Exploration Co. Reduced by Analyst (NFX)
Newfield Exploration Co. (NYSE:NFX) – Equities research analysts at Williams Capital lowered their Q3 2016 earnings per share (EPS) estimates for Newfield Exploration in a report released on Monday. Williams Capital analyst G. Sorbara now expects that the brokerage will post earnings per share of $0.23 for the quarter, down from their previous forecast of $0.24. Williams Capital has a “Buy” rating and a $58.00 price target on the stock. Williams Capital also issued estimates for Newfield Exploration’s FY2016 earnings at $0.74 EPS and FY2017 earnings at $1.42 EPS.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.24. Newfield Exploration had a negative net margin of 226.57% and a positive return on equity of 9.07%. The company earned $381 million during the quarter, compared to analyst estimates of $379.74 million. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was down 18.8% on a year-over-year basis.
A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Newfield Exploration from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Monday. Evercore ISI downgraded shares of Newfield Exploration from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a research note on Friday. Imperial Capital reiterated an “outperform” rating and set a $53.00 price objective on shares of Newfield Exploration in a research note on Friday, September 9th. Stifel Nicolaus reiterated a “buy” rating on shares of Newfield Exploration in a research note on Wednesday, August 31st. Finally, Citigroup Inc. increased their price objective on shares of Newfield Exploration from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $46.82.
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Shares of Newfield Exploration (NYSE:NFX) traded down 0.16% during midday trading on Tuesday, reaching $42.79. 453,742 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $43.01 and its 200 day moving average is $41.32. The firm’s market cap is $8.42 billion. Newfield Exploration has a one year low of $20.84 and a one year high of $47.56.
Institutional investors have recently bought and sold shares of the stock. Strs Ohio increased its stake in Newfield Exploration by 1.2% in the second quarter. Strs Ohio now owns 517,963 shares of the energy company’s stock worth $22,883,000 after buying an additional 5,963 shares during the period. Shell Asset Management Co. bought a new stake in Newfield Exploration during the second quarter worth about $333,000. Renaissance Technologies LLC increased its stake in Newfield Exploration by 20.5% in the first quarter. Renaissance Technologies LLC now owns 981,000 shares of the energy company’s stock worth $32,618,000 after buying an additional 166,600 shares during the period. Nuveen Asset Management LLC increased its stake in Newfield Exploration by 3.0% in the first quarter. Nuveen Asset Management LLC now owns 128,825 shares of the energy company’s stock worth $4,283,000 after buying an additional 3,769 shares during the period. Finally, Bank of Montreal Can bought a new stake in Newfield Exploration during the second quarter worth about $6,419,000. Institutional investors own 99.63% of the company’s stock.
In other Newfield Exploration news, Director Pamela J. Gardner sold 10,685 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $46.22, for a total value of $493,860.70. Following the transaction, the director now directly owns 43,749 shares in the company, valued at approximately $2,022,078.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Juanita F. Romans sold 2,015 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $46.04, for a total transaction of $92,770.60. Following the completion of the transaction, the director now owns 36,810 shares in the company, valued at $1,694,732.40. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.
About Newfield Exploration
Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China.
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