Newfield Exploration Co. (NYSE:NFX) – Analysts at SunTrust Banks upped their FY2018 earnings per share (EPS) estimates for Newfield Exploration in a research note issued to investors on Monday, October 29th. SunTrust Banks analyst N. Dingmann now expects that the energy company will post earnings of $3.49 per share for the year, up from their previous forecast of $3.27. SunTrust Banks currently has a “Hold” rating and a $23.00 target price on the stock. SunTrust Banks also issued estimates for Newfield Exploration’s FY2019 earnings at $4.24 EPS.
A number of other equities research analysts have also weighed in on NFX. Seaport Global Securities reaffirmed a “buy” rating on shares of Newfield Exploration in a report on Wednesday, July 25th. BMO Capital Markets reissued a “hold” rating and set a $33.00 price objective on shares of Newfield Exploration in a report on Thursday, July 12th. Zacks Investment Research lowered shares of Newfield Exploration from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Goldman Sachs Group lowered shares of Newfield Exploration from a “buy” rating to a “neutral” rating in a report on Wednesday, July 18th. Finally, Williams Capital set a $44.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $36.40.
NFX opened at $23.46 on Wednesday. The firm has a market cap of $3.88 billion, a P/E ratio of 10.91, a PEG ratio of 0.44 and a beta of 1.39. Newfield Exploration has a twelve month low of $18.67 and a twelve month high of $35.20. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 1.48.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Wednesday, October 31st. The energy company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.15. The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $661.27 million. Newfield Exploration had a net margin of 17.53% and a return on equity of 41.07%. The business’s revenue was up 62.0% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of NFX. NumerixS Investment Technologies Inc bought a new stake in Newfield Exploration in the 2nd quarter valued at about $142,000. Amica Pension Fund Board of Trustees bought a new stake in Newfield Exploration in the 2nd quarter valued at about $178,000. Amica Mutual Insurance Co. bought a new stake in Newfield Exploration in the 2nd quarter valued at about $198,000. Signition LP bought a new stake in Newfield Exploration in the 2nd quarter valued at about $201,000. Finally, Commonwealth Equity Services LLC bought a new stake in Newfield Exploration in the 2nd quarter valued at about $218,000. 99.29% of the stock is owned by institutional investors and hedge funds.
In other news, insider Lee K. Boothby sold 16,161 shares of Newfield Exploration stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $29.25, for a total value of $472,709.25. Following the completion of the transaction, the insider now directly owns 194,420 shares of the company’s stock, valued at approximately $5,686,785. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.59% of the company’s stock.
About Newfield Exploration
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.
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