Newfield Exploration Co. (NYSE:NFX) – B. Riley issued their FY2017 earnings estimates for Newfield Exploration in a research note issued to investors on Monday. B. Riley analyst R. Rashid anticipates that the energy company will earn $2.07 per share for the year. B. Riley has a “Buy” rating and a $46.00 price target on the stock. B. Riley also issued estimates for Newfield Exploration’s Q4 2017 earnings at $0.55 EPS, Q1 2018 earnings at $0.82 EPS, Q2 2018 earnings at $0.72 EPS, Q3 2018 earnings at $0.78 EPS, Q4 2018 earnings at $0.91 EPS, FY2018 earnings at $3.23 EPS, Q1 2019 earnings at $1.74 EPS, Q2 2019 earnings at $0.89 EPS, Q3 2019 earnings at $0.95 EPS, Q4 2019 earnings at $1.12 EPS and FY2019 earnings at $4.71 EPS.
NFX has been the topic of a number of other reports. Credit Suisse Group began coverage on shares of Newfield Exploration in a report on Monday, December 11th. They set a “neutral” rating and a $30.00 target price on the stock. Zacks Investment Research lowered shares of Newfield Exploration from a “buy” rating to a “hold” rating in a report on Friday, November 10th. BMO Capital Markets reissued a “hold” rating and set a $36.00 target price on shares of Newfield Exploration in a report on Sunday, January 14th. Wolfe Research lowered shares of Newfield Exploration from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 5th. Finally, KeyCorp reissued a “hold” rating on shares of Newfield Exploration in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $39.48.
In other news, CEO Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $31.84, for a total value of $382,080.00. Following the sale, the chief executive officer now directly owns 223,235 shares of the company’s stock, valued at approximately $7,107,802.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 36,000 shares of company stock worth $1,138,680. Insiders own 0.54% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System boosted its stake in 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 worth $12,629,000 after acquiring an additional 35,549 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Newfield Exploration by 52.7% during the third quarter. Neuberger Berman Group LLC now owns 12,588 shares of the energy company’s stock worth $373,000 after acquiring an additional 4,345 shares in the last quarter. Bessemer Group Inc. boosted its stake in Newfield Exploration by 43.3% during the third quarter. Bessemer Group Inc. now owns 53,172 shares of the energy company’s stock worth $1,578,000 after acquiring an additional 16,059 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in 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 worth $2,563,000 after acquiring an additional 36,700 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Newfield Exploration by 5.4% during the third quarter. Sei Investments Co. now owns 397,036 shares of the energy company’s stock worth $11,780,000 after acquiring an additional 20,280 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.
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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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