Brokerages expect that Newfield Exploration Co. (NYSE:NFX) will post earnings of $0.72 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Newfield Exploration’s earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.85. Newfield Exploration posted earnings of $0.57 per share during the same quarter last year, which would indicate a positive year over year growth rate of 26.3%. The firm is expected to issue its next earnings report after the market closes on Tuesday, May 1st.
On average, analysts expect that Newfield Exploration will report full year earnings of $3.02 per share for the current fiscal year, with EPS estimates ranging from $2.52 to $3.76. For the next year, analysts anticipate that the firm will post earnings of $3.63 per share, with EPS estimates ranging from $2.70 to $4.16. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Newfield Exploration.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, February 20th. The energy company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The company had revenue of $509.00 million during the quarter, compared to the consensus estimate of $497.95 million. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share.
A number of equities analysts recently commented on the company. Deutsche Bank assumed coverage on Newfield Exploration in a report on Wednesday. They set a “hold” rating and a $32.00 target price for the company. Jefferies Group set a $34.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Monday, March 19th. Morgan Stanley upped their price target on Newfield Exploration from $33.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. B. Riley set a $36.00 price target on Newfield Exploration and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $29.00 price target (down from $36.00) on shares of Newfield Exploration in a research note on Friday, February 23rd. One 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.30.
Shares of Newfield Exploration stock traded down $0.41 during midday trading on Friday, reaching $24.25. 4,230,931 shares of the company’s stock traded hands, compared to its average volume of 4,200,914. 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 company has a market cap of $4,843.26, a PE ratio of 11.28, a P/E/G ratio of 0.69 and a beta of 1.53. Newfield Exploration has a 12 month low of $22.72 and a 12 month high of $37.43.
In other Newfield Exploration news, Director Thomas G. Ricks purchased 8,250 shares of the stock in a transaction dated Thursday, March 1st. The shares were purchased at an average cost of $23.78 per share, with a total value of $196,185.00. Following the completion of the acquisition, the director now directly owns 66,447 shares in the company, valued at approximately $1,580,109.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $31.75, for a total value of $381,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.
Large investors have recently made changes to their positions in the company. Assetmark Inc. lifted its holdings in shares of Newfield Exploration by 14,896.2% during the fourth quarter. Assetmark Inc. now owns 3,899 shares of the energy company’s stock valued at $123,000 after purchasing an additional 3,873 shares in the last quarter. Tiedemann Wealth Management LLC lifted its holdings in shares of Newfield Exploration by 36.0% during the third quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock valued at $148,000 after purchasing an additional 7,664 shares in the last quarter. ETRADE Capital Management LLC bought a new position in shares of Newfield Exploration during the fourth quarter valued at $211,000. Vident Investment Advisory LLC bought a new position in shares of Newfield Exploration during the third quarter valued at $212,000. Finally, MAI Capital Management bought a new position in shares of Newfield Exploration during the fourth quarter valued at $240,000. 99.82% of the stock is currently owned by hedge funds and other institutional investors.
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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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