Zacks: Analysts Expect Newfield Exploration Company (NFX) to Post $0.42 Earnings Per Share
Wall Street brokerages expect that Newfield Exploration Company (NYSE:NFX) will post $0.42 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Newfield Exploration’s earnings. The highest EPS estimate is $0.51 and the lowest is $0.29. Newfield Exploration posted earnings of $0.24 per share during the same quarter last year, which indicates a positive year over year growth rate of 75%. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, October 31st.
According to Zacks, analysts expect that Newfield Exploration will report full-year earnings of $1.97 per share for the current fiscal year, with EPS estimates ranging from $1.67 to $2.30. For the next financial year, analysts expect that the firm will post earnings of $2.34 per share, with EPS estimates ranging from $0.66 to $5.19. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Newfield Exploration.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The company had revenue of $402.00 million for the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS.
A number of research firms recently commented on NFX. Barclays PLC reiterated an “equal weight” rating and set a $22.00 price objective (down previously from $23.00) on shares of Newfield Exploration in a research report on Wednesday, August 9th. Williams Capital set a $45.00 price target on Newfield Exploration and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Cowen and Company set a $35.00 price target on Newfield Exploration and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating and issued a $39.00 price target on shares of Newfield Exploration in a research note on Thursday, October 12th. Finally, Zacks Investment Research raised Newfield Exploration from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $39.72.
In other Newfield Exploration news, Director Roger B. Plank acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $29.10, for a total value of $349,200.00. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NFX. PNC Financial Services Group Inc. raised its stake in shares of Newfield Exploration by 29.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,980 shares of the energy company’s stock valued at $590,000 after purchasing an additional 3,602 shares during the period. Thrivent Financial For Lutherans increased its position in shares of Newfield Exploration by 5.5% in the first quarter. Thrivent Financial For Lutherans now owns 7,300 shares of the energy company’s stock valued at $269,000 after acquiring an additional 380 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Newfield Exploration by 30.5% in the first quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock valued at $122,000 after acquiring an additional 774 shares during the last quarter. UBS Group AG increased its position in shares of Newfield Exploration by 11.1% in the first quarter. UBS Group AG now owns 88,937 shares of the energy company’s stock valued at $3,283,000 after acquiring an additional 8,876 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Newfield Exploration by 76.5% in the first quarter. Morgan Stanley now owns 681,692 shares of the energy company’s stock valued at $25,161,000 after acquiring an additional 295,510 shares during the last quarter. 99.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Newfield Exploration (NFX) traded up 1.02% during midday trading on Tuesday, hitting $28.81. 2,642,783 shares of the stock were exchanged. The firm has a 50 day moving average of $28.68 and a 200-day moving average of $29.64. Newfield Exploration has a 12 month low of $24.41 and a 12 month high of $50.00. The stock has a market cap of $5.69 billion, a P/E ratio of 18.68 and a beta of 1.53.
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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