Zacks: Analysts Expect Newfield Exploration Co. (NFX) Will Post Earnings of $0.63 Per Share

Wall Street analysts forecast that Newfield Exploration Co. (NYSE:NFX) will announce earnings of $0.63 per share for the current quarter, according to Zacks. Eight analysts have made estimates for Newfield Exploration’s earnings, with the highest EPS estimate coming in at $0.95 and the lowest estimate coming in at $0.45. Newfield Exploration posted earnings of $0.49 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The firm is expected to announce its next earnings report after the market closes on Tuesday, February 20th.

On average, analysts expect that Newfield Exploration will report full-year earnings of $2.14 per share for the current fiscal year, with EPS estimates ranging from $1.99 to $2.47. For the next financial year, analysts expect that the company will report earnings of $2.83 per share, with EPS estimates ranging from $1.29 to $5.29. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Newfield Exploration.

Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $419.75 million. During the same period last year, the firm posted $0.45 earnings per share. Newfield Exploration’s revenue for the quarter was up 12.0% compared to the same quarter last year.

A number of research analysts recently weighed in on the stock. Cowen set a $40.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a report on Thursday, January 18th. BMO Capital Markets reissued a “hold” rating and issued a $36.00 target price on shares of Newfield Exploration in a report on Sunday, January 14th. Zacks Investment Research raised shares of Newfield Exploration from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a report on Monday, January 15th. Bank of America raised shares of Newfield Exploration from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a report on Thursday, January 4th. Finally, 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Newfield Exploration presently has a consensus rating of “Buy” and a consensus price target of $39.27.

Newfield Exploration (NYSE:NFX) opened at $34.14 on Tuesday. Newfield Exploration has a fifty-two week low of $24.41 and a fifty-two week high of $43.74. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.17 and a quick ratio of 1.15. The firm has a market cap of $6,651.30, a price-to-earnings ratio of 19.73, a P/E/G ratio of 0.71 and a beta of 1.45.

In other news, insider Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $31.30, for a total transaction of $375,600.00. Following the completion of the sale, the insider now directly owns 243,322 shares of the company’s stock, valued at $7,615,978.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Juanita F. Romans sold 3,500 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $30.02, for a total transaction of $105,070.00. Following the sale, the director now directly owns 39,034 shares of the company’s stock, valued at $1,171,800.68. The disclosure for this sale can be found here. Insiders have sold 39,500 shares of company stock valued at $1,243,150 over the last ninety days. 0.54% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Newfield Exploration by 3.3% during the second quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock valued at $673,862,000 after purchasing an additional 760,793 shares during the period. 361 Capital LLC boosted its stake in shares of Newfield Exploration by 15.6% during the second quarter. 361 Capital LLC now owns 183,420 shares of the energy company’s stock valued at $5,220,000 after purchasing an additional 24,812 shares during the period. California Public Employees Retirement System boosted its stake in shares of Newfield Exploration by 9.1% during the third quarter. California Public Employees Retirement System now owns 425,649 shares of the energy company’s stock valued at $12,629,000 after purchasing an additional 35,549 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Newfield Exploration by 73.8% during the third quarter. Canada Pension Plan Investment Board now owns 86,400 shares of the energy company’s stock valued at $2,563,000 after purchasing an additional 36,700 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Newfield Exploration by 43.3% during the third quarter. Bessemer Group Inc. now owns 53,172 shares of the energy company’s stock valued at $1,578,000 after purchasing an additional 16,059 shares during the period. 99.68% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Newfield Exploration (NYSE:NFX)

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