FY2017 EPS Estimates for Newfield Exploration Company Boosted by Analyst (NFX)
Newfield Exploration Company (NYSE:NFX) – Investment analysts at Jefferies Group increased their FY2017 EPS estimates for Newfield Exploration in a research note issued to investors on Monday. Jefferies Group analyst M. Hsu now expects that the energy company will post earnings per share of $1.67 for the year, up from their previous estimate of $1.63. Jefferies Group currently has a “Buy” rating and a $39.00 target price on the stock. Jefferies Group also issued estimates for Newfield Exploration’s Q4 2017 earnings at $0.39 EPS, Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $0.43 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.58 EPS, FY2018 earnings at $1.97 EPS, Q1 2019 earnings at $0.59 EPS, Q2 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.65 EPS and FY2019 earnings at $2.56 EPS.
Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company had revenue of $402.00 million during the quarter, compared to analyst estimates of $413.70 million. During the same period in the previous year, the company posted $0.32 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year.
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A number of other equities research analysts have also commented on the company. Citigroup Inc. reduced their price target on Newfield Exploration from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Scotiabank reiterated a “buy” rating and issued a $39.00 price target on shares of Newfield Exploration in a research report on Friday, June 30th. Cowen and Company set a $35.00 target price on Newfield Exploration and gave the company a “buy” rating in a research report on Tuesday, July 18th. BidaskClub lowered Newfield Exploration from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Finally, Barclays PLC restated a “hold” rating and set a $23.00 target price on shares of Newfield Exploration in a research report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.23.
Newfield Exploration (NYSE NFX) opened at 30.23 on Thursday. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 19.60 and a beta of 1.53. Newfield Exploration has a 1-year low of $24.41 and a 1-year high of $50.00. The firm has a 50-day moving average price of $27.73 and a 200 day moving average price of $30.13.
Institutional investors have recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Newfield Exploration 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 purchasing an additional 1,100 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Newfield Exploration by 67.3% in the second quarter. Schroder Investment Management Group now owns 1,236,114 shares of the energy company’s stock worth $35,353,000 after purchasing an additional 497,431 shares during the last quarter. Atlantic Trust Group LLC raised its stake in shares of Newfield Exploration by 22.8% in the second quarter. Atlantic Trust Group LLC now owns 253,908 shares of the energy company’s stock worth $7,226,000 after purchasing an additional 47,194 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Newfield Exploration by 21.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,229 shares of the energy company’s stock worth $1,458,000 after purchasing an additional 8,972 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Newfield Exploration by 106.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,732 shares of the energy company’s stock worth $4,119,000 after purchasing an additional 74,768 shares during the last quarter. 99.15% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Roger B. Plank acquired 3,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $25.98 per share, with a total value of $77,940.00. Following the completion of the purchase, the director now directly owns 30,787 shares in the company, valued at approximately $799,846.26. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lee K. Boothby sold 12,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $26.18, for a total value of $314,160.00. Following the completion of the sale, the insider now directly owns 279,322 shares of the company’s stock, valued at $7,312,649.96. The disclosure for this sale can be found here. Corporate insiders own 0.54% 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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