Seaport Global Securities Weighs in on Newfield Exploration Company’s Q3 2017 Earnings (NFX)
Newfield Exploration Company (NYSE:NFX) – Equities researchers at Seaport Global Securities upped their Q3 2017 earnings estimates for shares of Newfield Exploration in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the energy company will post earnings per share of $0.43 for the quarter, up from their prior forecast of $0.37. Seaport Global Securities also issued estimates for Newfield Exploration’s FY2017 earnings at $1.88 EPS.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). The firm had revenue of $402.00 million for 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 quarter in the previous year, the firm posted $0.32 EPS.
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Several other research firms have also commented on NFX. Barclays PLC reiterated an “equal weight” rating and set a $22.00 price objective (down from $23.00) on shares of Newfield Exploration in a research note on Wednesday, August 9th. Williams Capital set a $45.00 price objective 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 objective on Newfield Exploration and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and set a $39.00 price objective on shares of Newfield Exploration in a research note on Thursday, October 12th. Finally, Zacks Investment Research upgraded Newfield Exploration from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.72.
Shares of Newfield Exploration (NFX) opened at 28.81 on Wednesday. The firm’s 50-day moving average price is $28.68 and its 200 day moving average price is $29.64. Newfield Exploration has a 1-year low of $24.41 and a 1-year 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.
In other Newfield Exploration news, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was 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 SEC, which can be accessed through the SEC website. Also, Director Roger B. Plank purchased 3,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $25.98 per share, for a total transaction of $77,940.00. Following the completion of the purchase, the director now directly owns 30,787 shares of the company’s stock, valued at $799,846.26. The disclosure for this purchase can be found here. 0.54% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in Newfield Exploration by 8.5% during the second quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock worth $116,000 after purchasing an additional 319 shares in the last quarter. Global X Management Co. LLC lifted its stake in Newfield Exploration by 30.5% during the first quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock worth $122,000 after purchasing an additional 774 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Newfield Exploration during the second quarter worth $131,000. Riverhead Capital Management LLC lifted its stake in Newfield Exploration by 17.1% during the second quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock worth $197,000 after purchasing an additional 1,013 shares in the last quarter. Finally, Koch Industries Inc. acquired a new position in Newfield Exploration during the second quarter worth $209,000. Institutional investors 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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