Brokerages expect Newfield Exploration Co. (NYSE:NFX) to announce sales of $501.47 million for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Newfield Exploration’s earnings, with the highest sales estimate coming in at $555.20 million and the lowest estimate coming in at $472.00 million. Newfield Exploration posted sales of $415.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.8%. The company is scheduled to report its next earnings results after the market closes on Tuesday, February 20th.
According to Zacks, analysts expect that Newfield Exploration will report full year sales of $501.47 million for the current fiscal year, with estimates ranging from $1.73 billion to $1.82 billion. For the next financial year, analysts forecast that the business will post sales of $2.32 billion per share, with estimates ranging from $2.02 billion to $2.61 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Newfield Exploration.
A number of analysts have recently issued reports on NFX shares. Scotiabank reaffirmed a “buy” rating and set a $38.00 price objective on shares of Newfield Exploration in a report on Wednesday, November 1st. Williams Capital set a $46.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday, November 1st. SunTrust Banks set a $37.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research raised shares of Newfield Exploration from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Thursday, October 26th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $39.00 price objective on shares of Newfield Exploration in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $39.48.
Hedge funds have recently added to or reduced their stakes in the business. Vident Investment Advisory LLC purchased a new position in shares of Newfield Exploration in the third quarter valued at about $212,000. Thrivent Financial For Lutherans increased its position in shares of 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 acquiring an additional 230 shares during the period. MAI Capital Management purchased a new position in shares of Newfield Exploration in the fourth quarter valued at about $240,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Newfield Exploration in the fourth quarter valued at about $257,000. Finally, ARP Americas LP purchased a new position in shares of Newfield Exploration in the fourth quarter valued at about $259,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.
Shares of Newfield Exploration (NFX) opened at $25.98 on Friday. Newfield Exploration has a fifty-two week low of $24.41 and a fifty-two week high of $43.74. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.87. The stock has a market cap of $5,110.00, a price-to-earnings ratio of 15.02, a PEG ratio of 0.54 and a beta of 1.35.
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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