Jefferies Group Comments on Newfield Exploration Co.’s Q1 2017 Earnings (NFX)
Newfield Exploration Co. (NYSE:NFX) – Investment analysts at Jefferies Group lifted their Q1 2017 EPS estimates for shares of Newfield Exploration in a report issued on Tuesday. Jefferies Group analyst M. Hsu now anticipates that the energy company will post earnings of $0.33 per share for the quarter, up from their previous estimate of $0.31. Jefferies Group has a “Buy” rating and a $53.00 price target on the stock. Jefferies Group also issued estimates for Newfield Exploration’s FY2017 earnings at $1.52 EPS.
A number of other equities research analysts have also issued reports on NFX. Canaccord Genuity set a $50.00 price target on Newfield Exploration and gave the company a “buy” rating in a research report on Saturday, February 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 price target on shares of Newfield Exploration in a research report on Wednesday, April 12th. Bank of America Corp lowered Newfield Exploration from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 4th. Zacks Investment Research raised Newfield Exploration from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Thursday, January 5th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $56.00 price target on shares of Newfield Exploration in a research report on Tuesday, January 3rd. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $50.12.
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Shares of Newfield Exploration (NYSE:NFX) opened at 34.55 on Thursday. The company’s market capitalization is $6.82 billion. The company has a 50 day moving average price of $35.49 and a 200 day moving average price of $40.32. Newfield Exploration has a 12-month low of $33.00 and a 12-month high of $50.00.
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Newfield Exploration (NYSE:NFX) last released its quarterly earnings data on Tuesday, February 21st. The energy company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The firm earned $415 million during the quarter, compared to the consensus estimate of $397.74 million. Newfield Exploration had a positive return on equity of 12.41% and a negative net margin of 134.32%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted ($4.06) earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of Newfield Exploration by 3.6% in the fourth quarter. State Street Corp now owns 10,404,230 shares of the energy company’s stock valued at $421,380,000 after buying an additional 359,026 shares during the period. BlackRock Fund Advisors increased its stake in Newfield Exploration by 2.6% in the third quarter. BlackRock Fund Advisors now owns 3,696,611 shares of the energy company’s stock worth $160,655,000 after buying an additional 94,021 shares during the period. Northern Trust Corp increased its stake in Newfield Exploration by 2.7% in the third quarter. Northern Trust Corp now owns 2,391,047 shares of the energy company’s stock worth $103,915,000 after buying an additional 61,734 shares during the period. Conatus Capital Management LP increased its stake in Newfield Exploration by 0.4% in the third quarter. Conatus Capital Management LP now owns 2,035,542 shares of the energy company’s stock worth $88,465,000 after buying an additional 7,101 shares during the period. Finally, Norges Bank acquired a new stake in Newfield Exploration during the fourth quarter worth $79,754,000. Institutional investors own 96.67% of the company’s stock.
In other Newfield Exploration news, insider Lee K. Boothby sold 9,000 shares of Newfield Exploration stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $36.88, for a total value of $331,920.00. Following the transaction, the insider now directly owns 263,817 shares in the company, valued at approximately $9,729,570.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Kent Wells bought 3,000 shares of the stock in a transaction on Monday, February 27th. The stock was bought at an average price of $36.94 per share, for a total transaction of $110,820.00. Following the completion of the purchase, the director now directly owns 11,563 shares in the company, valued at approximately $427,137.22. The disclosure for this purchase can be found here. Company insiders own 0.44% of the company’s stock.
Newfield Exploration Company Profile
Newfield Exploration Company is an independent exploration and production company. It is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its operating segments are the United States and China. Its the United States operations are onshore and focus primarily on large scale, liquids resource plays.
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