Newfield Exploration Company (NYSE:NFX) – Equities research analysts at Jefferies Group cut their FY2018 earnings per share estimates for Newfield Exploration in a report released on Monday. Jefferies Group analyst M. Hsu now expects that the energy company will post earnings of $2.13 per share for the year, down from their prior estimate of $2.49. Jefferies Group has a “Buy” rating and a $46.00 price objective on the stock.

NFX has been the topic of a number of other reports. Credit Suisse Group restated an “outperform” rating and issued a $47.00 target price on shares of Newfield Exploration in a report on Friday, June 2nd. Citigroup Inc. decreased their target price on Newfield Exploration from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Zacks Investment Research cut Newfield Exploration from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. J P Morgan Chase & Co restated an “overweight” rating and issued a $36.00 target price (down from $40.00) on shares of Newfield Exploration in a report on Wednesday, August 9th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $48.00 target price on shares of Newfield Exploration in a report on Friday, May 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $43.21.

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Newfield Exploration (NYSE:NFX) traded down 0.8091% during mid-day trading on Thursday, reaching $24.9862. The company’s stock had a trading volume of 1,125,369 shares. The firm has a market capitalization of $4.94 billion, a P/E ratio of 16.2038 and a beta of 1.48. Newfield Exploration has a 52 week low of $24.94 and a 52 week high of $50.00. The firm’s 50 day moving average price is $27.06 and its 200 day moving average price is $33.03.

Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, August 1st. The energy company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $402 million for the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share.

Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of 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 worth $998,913,000 after buying an additional 6,422,891 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Newfield Exploration by 3.3% in the second quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock worth $673,862,000 after buying an additional 760,793 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Newfield Exploration by 0.4% in the second quarter. BlackRock Inc. now owns 13,843,741 shares of the energy company’s stock worth $393,993,000 after buying an additional 55,230 shares in the last quarter. State Street Corp boosted its stake in shares of Newfield Exploration by 5.6% in the second quarter. State Street Corp now owns 12,109,780 shares of the energy company’s stock worth $344,646,000 after buying an additional 638,807 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Newfield Exploration by 9.9% in the second quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock worth $297,683,000 after buying an additional 938,740 shares in the last quarter. 98.33% of the stock is owned by institutional investors.

In related news, Director Roger B. Plank purchased 3,000 shares of Newfield Exploration stock in a transaction on Friday, August 11th. The stock was bought at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the transaction, the director now directly owns 30,787 shares of the company’s stock, valued at $799,846.26. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by company insiders.

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.

Earnings History and Estimates for Newfield Exploration (NYSE:NFX)

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