FY2017 Earnings Forecast for Newfield Exploration Company (NFX) Issued By KeyCorp
Newfield Exploration Company (NYSE:NFX) – Equities researchers at KeyCorp raised their FY2017 EPS estimates for Newfield Exploration in a research note issued on Tuesday. KeyCorp analyst D. Deckelbaum now forecasts that the energy company will post earnings of $2.20 per share for the year, up from their prior estimate of $2.11. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Newfield Exploration’s Q4 2017 earnings at $0.68 EPS, Q1 2019 earnings at $0.67 EPS, Q2 2019 earnings at $0.67 EPS, Q3 2019 earnings at $0.73 EPS and FY2019 earnings at $2.80 EPS.
NFX has been the topic of several other research reports. Williams Capital set a $46.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a report on Wednesday, November 1st. Royal Bank of Canada reaffirmed a “buy” rating and set a $39.00 target price on shares of Newfield Exploration in a report on Tuesday, November 7th. Morgan Stanley increased their target price on shares of Newfield Exploration from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Barclays increased their target price on shares of Newfield Exploration from $22.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, October 11th. Finally, Jefferies Group reissued a “buy” rating and set a $39.00 price target on shares of Newfield Exploration in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $37.81.
Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, October 31st. The energy company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.09. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The company had revenue of $439.00 million for the quarter, compared to analyst estimates of $419.75 million. During the same quarter last year, the firm earned $0.45 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year.
In other news, Director Juanita F. Romans sold 3,500 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $30.02, for a total value of $105,070.00. Following the completion of the sale, the director now directly owns 39,034 shares of the company’s stock, valued at approximately $1,171,800.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $31.70, for a total transaction of $380,400.00. Following the completion of the sale, the chief executive officer now directly owns 255,322 shares of the company’s stock, valued at $8,093,707.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock valued at $1,210,270 in the last three months. 0.54% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of NFX. Janus Henderson Group PLC lifted its position in shares of Newfield Exploration by 3,994.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,899,262 shares of the energy company’s stock worth $56,351,000 after purchasing an additional 1,852,876 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Newfield Exploration in the 2nd quarter worth about $42,542,000. FMR LLC lifted its position in Newfield Exploration by 9.9% during the 2nd quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock valued at $297,683,000 after acquiring an additional 938,740 shares during the period. Prudential Financial Inc. lifted its position in Newfield Exploration by 26.9% during the 3rd quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock valued at $122,071,000 after acquiring an additional 872,434 shares during the period. Finally, Schroder Investment Management Group lifted its position in Newfield Exploration by 70.3% during the 3rd quarter. Schroder Investment Management Group now owns 2,105,206 shares of the energy company’s stock valued at $62,209,000 after acquiring an additional 869,092 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.
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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