Brokers Issue Forecasts for Newfield Exploration Company’s FY2017 Earnings (NYSE:NFX)
Newfield Exploration Company (NYSE:NFX) – SunTrust Banks increased their FY2017 earnings estimates for shares of Newfield Exploration Company in a report released on Thursday. SunTrust Banks analyst N. Dingmann now anticipates that the energy company will post earnings of $2.16 per share for the year, up from their previous estimate of $2.12. SunTrust Banks also issued estimates for Newfield Exploration Company’s Q4 2017 earnings at $0.64 EPS and FY2019 earnings at $3.39 EPS.
NFX has been the subject of several other research reports. Barclays PLC reissued an “equal weight” rating and issued a $33.00 price objective (down previously from $39.00) on shares of Newfield Exploration Company in a report on Saturday, April 22nd. BidaskClub cut Newfield Exploration Company from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $42.00 price target (down previously from $48.00) on shares of Newfield Exploration Company in a report on Monday, June 5th. Royal Bank Of Canada set a $54.00 price target on Newfield Exploration Company and gave the stock a “buy” rating in a report on Saturday, June 3rd. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $47.00 price objective on shares of Newfield Exploration Company in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $46.50.
Shares of Newfield Exploration Company (NYSE:NFX) opened at 27.04 on Monday. The firm has a 50-day moving average price of $31.11 and a 200-day moving average price of $36.75. The stock’s market cap is $5.33 billion. Newfield Exploration Company has a 12 month low of $25.46 and a 12 month high of $50.00.
Newfield Exploration Company (NYSE:NFX) last posted its earnings results on Tuesday, May 2nd. The energy company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. The company had revenue of $417 million for the quarter, compared to the consensus estimate of $425.44 million. Newfield Exploration Company had a positive return on equity of 33.87% and a negative net margin of 28.60%.
Several large investors have recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec increased its stake in Newfield Exploration Company by 3.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock worth $1,208,000 after buying an additional 1,100 shares during the last quarter. Suntrust Banks Inc. bought a new stake in Newfield Exploration Company during the first quarter worth about $423,000. Cipher Capital LP increased its stake in Newfield Exploration Company by 13.8% in the first quarter. Cipher Capital LP now owns 36,718 shares of the energy company’s stock worth $1,355,000 after buying an additional 4,458 shares during the last quarter. ARP Americas LLC bought a new stake in Newfield Exploration Company during the first quarter worth about $214,000. Finally, State of Alaska Department of Revenue bought a new stake in Newfield Exploration Company during the first quarter worth about $208,000. Institutional investors own 99.07% of the company’s stock.
In other news, insider Lee K. Boothby sold 9,000 shares of Newfield Exploration Company stock in a transaction that occurred on Monday, May 1st. The shares were 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 directly owns 335,047 shares in the company, valued at approximately $11,582,574.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.
About Newfield Exploration Company
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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