Newfield Exploration Company (NFX) Announces Quarterly Earnings Results
Newfield Exploration Company (NYSE:NFX) announced its quarterly earnings data on Tuesday. The energy company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09, Bloomberg Earnings reports. The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $419.75 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS.
Shares of Newfield Exploration (NFX) traded up 1.770% on Wednesday, reaching $31.335. 1,747,508 shares of the company’s stock were exchanged. The company’s 50 day moving average is $29.25 and its 200-day moving average is $29.45. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 20.321 and a beta of 1.53. Newfield Exploration has a one year low of $24.41 and a one year high of $50.00.
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A number of equities research analysts have recently weighed in on the stock. Williams Capital set a $46.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research lowered shares of Newfield Exploration from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Morgan Stanley boosted their price objective on shares of Newfield Exploration from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 18th. BMO Capital Markets lowered shares of Newfield Exploration from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $34.00 to $32.00 in a report on Friday, October 13th. Finally, KeyCorp restated a “hold” rating on shares of Newfield Exploration in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $39.41.
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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