Seaport Global Securities Research Analysts Raise Earnings Estimates for Newfield Exploration Company (NFX)
Newfield Exploration Company (NYSE:NFX) – Investment analysts at Seaport Global Securities raised their Q1 2018 earnings per share (EPS) estimates for shares of Newfield Exploration in a research note issued on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the energy company will earn $0.09 per share for the quarter, up from their prior forecast of $0.06. Seaport Global Securities has a “Sell” rating and a $24.00 price objective on the stock. Seaport Global Securities also issued estimates for Newfield Exploration’s Q2 2018 earnings at $0.09 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at $0.25 EPS and FY2018 earnings at $0.66 EPS.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The firm had revenue of $402.00 million during the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS.
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Several other equities research analysts also recently issued reports on NFX. BidaskClub raised shares of Newfield Exploration from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Wolfe Research initiated coverage on shares of Newfield Exploration in a report on Thursday, June 15th. They set an “outperform” rating and a $38.00 price objective for the company. BMO Capital Markets set a $34.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Monday, June 26th. Scotiabank reissued a “buy” rating and set a $39.00 price objective on shares of Newfield Exploration in a report on Friday, June 30th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $46.00 price objective on shares of Newfield Exploration in a report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $41.14.
Newfield Exploration (NFX) traded up 0.50% during trading on Thursday, hitting $30.45. 146,537 shares of the company’s stock traded hands. The stock has a market cap of $6.02 billion, a P/E ratio of 19.75 and a beta of 1.53. Newfield Exploration has a 12-month low of $24.41 and a 12-month high of $50.00. The firm’s 50-day moving average price is $26.98 and its 200 day moving average price is $30.25.
In related news, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $29.10, for a total transaction of $349,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger B. Plank bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the purchase, the director now owns 30,787 shares in the company, valued at $799,846.26. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Perpetual Ltd acquired a new position in Newfield Exploration during the 2nd quarter valued at $3,388,000. Sentry Investment Management LLC raised its stake in Newfield Exploration by 14.4% during the 2nd quarter. Sentry Investment Management LLC now owns 15,542 shares of the energy company’s stock valued at $442,000 after purchasing an additional 1,953 shares during the last quarter. Ashburton Jersey Ltd raised its stake in Newfield Exploration by 59.4% during the 2nd quarter. Ashburton Jersey Ltd now owns 30,600 shares of the energy company’s stock valued at $871,000 after purchasing an additional 11,400 shares during the last quarter. Toronto Dominion Bank raised its stake in Newfield Exploration by 25.7% during the 2nd quarter. Toronto Dominion Bank now owns 67,476 shares of the energy company’s stock valued at $1,920,000 after purchasing an additional 13,805 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Newfield Exploration in the 2nd quarter valued at $781,000. Hedge funds and other institutional investors own 99.15% 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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