Equities research analysts expect that Newfield Exploration Co. (NYSE:NFX) will report $552.83 million in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for Newfield Exploration’s earnings. The lowest sales estimate is $518.23 million and the highest is $611.10 million. Newfield Exploration reported sales of $417.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 32.6%. The business is scheduled to issue its next earnings results on Tuesday, May 1st.
On average, analysts expect that Newfield Exploration will report full-year sales of $552.83 million for the current fiscal year, with estimates ranging from $2.16 billion to $2.47 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.61 billion per share, with estimates ranging from $2.31 billion to $2.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Newfield Exploration.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. The business had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $497.95 million. During the same quarter in the prior year, the business earned $0.49 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis.
A number of equities research analysts recently weighed in on NFX shares. Cowen set a $40.00 price target on Newfield Exploration and gave the company a “buy” rating in a research note on Thursday, January 18th. Piper Jaffray Companies restated a “buy” rating and issued a $48.00 price target on shares of Newfield Exploration in a research note on Tuesday, January 9th. Bank of America upgraded Newfield Exploration from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Thursday, January 4th. Jefferies Group set a $40.00 price target on Newfield Exploration and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Scotiabank set a $39.00 price objective on Newfield Exploration and gave the stock a “buy” rating in a research report on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $37.59.
Shares of Newfield Exploration (NFX) opened at $23.77 on Friday. Newfield Exploration has a 12 month low of $22.72 and a 12 month high of $37.61. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $4,750.00, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.60 and a beta of 1.56.
In related news, CEO Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $31.84, for a total value of $382,080.00. Following the transaction, the chief executive officer now owns 223,235 shares in the company, valued at $7,107,802.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas G. Ricks purchased 8,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was bought at an average price of $23.78 per share, for a total transaction of $196,185.00. Following the transaction, the director now directly owns 66,447 shares of the company’s stock, valued at approximately $1,580,109.66. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Newfield Exploration by 1.5% in the fourth quarter. BlackRock Inc. now owns 13,961,934 shares of the energy company’s stock worth $440,218,000 after purchasing an additional 208,148 shares during the period. Prudential Financial Inc. increased its position in shares of Newfield Exploration by 26.9% in the third quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock worth $122,071,000 after purchasing an additional 872,434 shares during the period. Geode Capital Management LLC increased its position in shares of Newfield Exploration by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 2,163,284 shares of the energy company’s stock worth $68,062,000 after purchasing an additional 67,472 shares during the period. Schroder Investment Management Group boosted its stake in Newfield Exploration by 70.3% in the third quarter. Schroder Investment Management Group now owns 2,105,206 shares of the energy company’s stock valued at $62,209,000 after buying an additional 869,092 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Newfield Exploration by 33.3% in the fourth quarter. Two Sigma Advisers LP now owns 2,041,087 shares of the energy company’s stock valued at $64,355,000 after buying an additional 509,757 shares in the last quarter. Institutional investors own 99.82% 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.
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