Research Analysts Offer Predictions for Newfield Exploration Co.’s FY2017 Earnings (NFX)
Newfield Exploration Co. (NYSE:NFX) – KeyCorp reduced their FY2017 earnings per share estimates for Newfield Exploration in a research note issued on Sunday. KeyCorp analyst D. Deckelbaum now expects that the energy company will post earnings per share of $2.81 for the year, down from their prior forecast of $2.82. KeyCorp also issued estimates for Newfield Exploration’s Q1 2018 earnings at $0.66 EPS, Q2 2018 earnings at $0.71 EPS, Q3 2018 earnings at $0.76 EPS, Q4 2018 earnings at $0.82 EPS and FY2018 earnings at $2.95 EPS.
A number of other brokerages also recently issued reports on NFX. Zacks Investment Research downgraded Newfield Exploration from a “buy” rating to a “hold” rating in a research report on Thursday, January 26th. Barclays PLC lowered their price target on Newfield Exploration from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 26th. KLR Group increased their price target on Newfield Exploration from $44.00 to $46.00 and gave the stock a “hold” rating in a research report on Wednesday, February 22nd. Canaccord Genuity set a $50.00 price target on Newfield Exploration and gave the stock a “buy” rating in a research report on Saturday, February 11th. Finally, Societe Generale upgraded Newfield Exploration from a “hold” rating to a “buy” rating in a research report on Tuesday, January 31st. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.53.
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Newfield Exploration (NYSE:NFX) opened at 33.78 on Wednesday. The stock’s market capitalization is $6.66 billion. The stock’s 50 day moving average price is $35.13 and its 200-day moving average price is $38.97. Newfield Exploration has a 52-week low of $33.00 and a 52-week high of $50.00.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings data on Tuesday, May 2nd. The energy company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.45 by $0.12. Newfield Exploration had a positive return on equity of 12.41% and a negative net margin of 134.32%. The company had revenue of $417 million during the quarter, compared to the consensus estimate of $425.44 million.
In other Newfield Exploration news, insider Lee K. Boothby sold 9,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $34.57, for a total transaction of $311,130.00. Following the completion of the sale, the insider now owns 335,047 shares of the company’s stock, valued at $11,582,574.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Kent Wells bought 3,000 shares of the business’s stock in a transaction on Monday, February 27th. The shares were acquired at an average cost of $36.94 per share, with a total value of $110,820.00. Following the purchase, the director now owns 11,563 shares of the company’s stock, valued at $427,137.22. The disclosure for this purchase can be found here. 0.44% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Newfield Exploration by 31.1% in the first quarter. Wellington Management Group LLP now owns 27,063,455 shares of the energy company’s stock valued at $998,913,000 after buying an additional 6,422,891 shares during the period. Vanguard Group Inc. boosted its stake in Newfield Exploration by 5.2% in the first quarter. Vanguard Group Inc. now owns 22,916,735 shares of the energy company’s stock valued at $845,856,000 after buying an additional 1,131,263 shares during the period. BlackRock Inc. boosted its stake in Newfield Exploration by 2,798.4% in the first quarter. BlackRock Inc. now owns 13,788,511 shares of the energy company’s stock valued at $508,934,000 after buying an additional 13,312,785 shares during the period. State Street Corp boosted its stake in Newfield Exploration by 10.3% in the first quarter. State Street Corp now owns 11,470,973 shares of the energy company’s stock valued at $423,392,000 after buying an additional 1,066,743 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Newfield Exploration by 45.5% in the first quarter. Prudential Financial Inc. now owns 3,825,967 shares of the energy company’s stock valued at $141,216,000 after buying an additional 1,197,112 shares during the period. 96.67% of the stock is owned by institutional investors.
About Newfield Exploration
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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