Capital One Financial Corporation Analysts Increase Earnings Estimates for Newfield Exploration Company (NFX)
Newfield Exploration Company (NYSE:NFX) – Equities researchers at Capital One Financial Corporation increased their Q4 2017 earnings per share (EPS) estimates for Newfield Exploration in a research note issued to investors on Wednesday. Capital One Financial Corporation analyst R. Tullis now forecasts that the energy company will earn $0.52 per share for the quarter, up from their previous forecast of $0.51. Capital One Financial Corporation also issued estimates for Newfield Exploration’s FY2018 earnings at $1.43 EPS.
NFX has been the subject of a number of other research reports. J P Morgan Chase & Co reiterated an “overweight” rating and set a $36.00 price objective (down previously from $40.00) on shares of Newfield Exploration in a research note on Wednesday, August 9th. Piper Jaffray Companies cut their price target on Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, September 18th. BMO Capital Markets set a $34.00 price target on Newfield Exploration and gave the company a “buy” rating in a research note on Tuesday, October 10th. Jefferies Group LLC set a $40.00 price target on Newfield Exploration and gave the company a “buy” rating in a research note on Tuesday, August 29th. Finally, Barclays PLC cut their price target on Newfield Exploration from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $39.26.
ILLEGAL ACTIVITY WARNING: This story was first reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.americanbankingnews.com/2017/11/02/capital-one-financial-corporation-analysts-increase-earnings-estimates-for-newfield-exploration-company-nfx.html. Newfield Exploration (NYSE:NFX) last issued its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $419.75 million. Newfield Exploration had a return on equity of 37.07% and a net margin of 20.62%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share.
In other news, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $26.18, for a total transaction of $314,160.00. Following the sale, the insider now owns 279,322 shares of the company’s stock, valued at $7,312,649.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger B. Plank acquired 3,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were bought at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the transaction, the director now directly 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 corporate insiders.
Several institutional investors have recently bought and sold shares of NFX. Pacer Advisors Inc. increased its position in shares of 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 acquiring an additional 319 shares during the period. Dupont Capital Management Corp purchased a new position in Newfield Exploration in the second quarter valued at $131,000. Riverhead Capital Management LLC increased its holdings in Newfield Exploration by 17.1% in the second quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock valued at $197,000 after buying an additional 1,013 shares during the last quarter. Koch Industries Inc. purchased a new position in Newfield Exploration in the second quarter valued at $209,000. Finally, Thrivent Financial For Lutherans increased its holdings in Newfield Exploration by 3.2% in the second quarter. Thrivent Financial For Lutherans now owns 7,530 shares of the energy company’s stock valued at $214,000 after buying an additional 230 shares during the last quarter. 99.15% of the stock is currently owned by institutional investors and hedge funds.
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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