Seaport Global Securities Equities Analysts Lift Earnings Estimates for Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NYSE:NFX) – Research analysts at Seaport Global Securities raised their FY2017 earnings per share (EPS) estimates for Newfield Exploration in a report issued on Friday. Seaport Global Securities analyst M. Kelly now forecasts that the energy company will post earnings of $2.14 per share for the year, up from their prior estimate of $2.10. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Newfield Exploration’s Q4 2017 earnings at $0.62 EPS.

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

A number of other equities research analysts have also recently issued reports on NFX. Stifel Nicolaus set a $37.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a report on Thursday, October 5th. BMO Capital Markets set a $34.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, October 10th. Barclays upped 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. Jefferies Group reaffirmed a “buy” rating and issued a $39.00 target price on shares of Newfield Exploration in a report on Thursday, October 12th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Newfield Exploration in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $39.18.

Shares of Newfield Exploration (NFX) opened at $33.96 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 1.87. The stock has a market cap of $6,780.00, a PE ratio of 19.63, a PEG ratio of 0.71 and a beta of 1.45. Newfield Exploration has a fifty-two week low of $24.41 and a fifty-two week high of $43.74.

In related news, Director Juanita F. Romans sold 3,500 shares of the company’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 transaction, the director now owns 39,034 shares in the company, valued at approximately $1,171,800.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $31.70, for a total transaction of $380,400.00. Following the completion of the transaction, the chief executive officer now owns 255,322 shares in the company, valued at approximately $8,093,707.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,500 shares of company stock worth $1,243,150. 0.54% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. 361 Capital LLC grew its position in shares of Newfield Exploration by 15.6% during the 2nd quarter. 361 Capital LLC now owns 183,420 shares of the energy company’s stock worth $5,220,000 after purchasing an additional 24,812 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Newfield Exploration by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock worth $673,862,000 after purchasing an additional 760,793 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Newfield Exploration by 9.1% during the 3rd quarter. California Public Employees Retirement System now owns 425,649 shares of the energy company’s stock worth $12,629,000 after purchasing an additional 35,549 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Newfield Exploration by 73.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 86,400 shares of the energy company’s stock worth $2,563,000 after purchasing an additional 36,700 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Newfield Exploration by 43.3% during the 3rd quarter. Bessemer Group Inc. now owns 53,172 shares of the energy company’s stock worth $1,578,000 after purchasing an additional 16,059 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

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Newfield Exploration Company Profile

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.

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

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