Q3 2017 EPS Estimates for Newfield Exploration Company (NFX) Boosted by Seaport Global Securities
Newfield Exploration Company (NYSE:NFX) – Investment analysts at Seaport Global Securities lifted their Q3 2017 earnings per share (EPS) estimates for Newfield Exploration in a research note issued on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the energy company will post earnings per share of $0.37 for the quarter, up from their prior forecast of $0.35. Seaport Global Securities has a “Sell” rating and a $24.00 price target on the stock. Seaport Global Securities also issued estimates for Newfield Exploration’s Q4 2017 earnings at $0.46 EPS and FY2017 earnings at $1.82 EPS.
Several other equities analysts also recently commented on the stock. Piper Jaffray Companies lowered their target price on shares of Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. Jefferies Group LLC set a $40.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Royal Bank Of Canada set a $42.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Thursday, August 24th. Stifel Nicolaus set a $37.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Friday, August 18th. Finally, BidaskClub downgraded shares of Newfield Exploration from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $41.14.
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Newfield Exploration (NYSE NFX) opened at 30.47 on Friday. The firm’s 50 day moving average price is $27.13 and its 200-day moving average price is $30.26. The firm has a market cap of $6.02 billion, a PE ratio of 19.76 and a beta of 1.53. Newfield Exploration has a 52 week low of $24.41 and a 52 week high of $50.00.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data 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 company had revenue of $402.00 million for the quarter, compared to analyst estimates of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS.
In related news, insider Lee K. Boothby sold 12,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $29.10, for a total value of $349,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger B. Plank bought 3,000 shares of Newfield Exploration stock in a transaction that occurred 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 purchase, the director now owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFX. UBS Asset Management Americas Inc. lifted its stake in shares of Newfield Exploration by 4.7% in the first quarter. UBS Asset Management Americas Inc. now owns 506,734 shares of the energy company’s stock valued at $18,704,000 after buying an additional 22,660 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Newfield Exploration in the first quarter valued at about $175,000. Mason Street Advisors LLC lifted its stake in shares of Newfield Exploration by 1.9% in the first quarter. Mason Street Advisors LLC now owns 27,484 shares of the energy company’s stock valued at $1,014,000 after buying an additional 502 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Newfield Exploration by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock valued at $138,000 after buying an additional 121 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of Newfield Exploration by 17.0% in the first quarter. M&T Bank Corp now owns 13,434 shares of the energy company’s stock valued at $496,000 after buying an additional 1,954 shares during the period. Institutional investors and hedge funds own 99.15% of the company’s stock.
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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