Newfield Exploration Co. (NYSE:NFX) – B. Riley raised their FY2018 earnings per share estimates for Newfield Exploration in a research report issued on Tuesday, November 6th. B. Riley analyst R. Rashid now forecasts that the energy company will post earnings of $3.73 per share for the year, up from their previous estimate of $3.72.
Other analysts have also recently issued reports about the stock. BMO Capital Markets restated a “hold” rating and issued a $33.00 price objective on shares of Newfield Exploration in a research note on Thursday, July 12th. SunTrust Banks cut shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Morgan Stanley boosted their price objective on shares of Newfield Exploration from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Jefferies Financial Group restated a “buy” rating and issued a $37.00 price objective on shares of Newfield Exploration in a research note on Wednesday, July 18th. Finally, Zacks Investment Research cut shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $35.43.
NFX stock opened at $22.14 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 0.52 and a beta of 1.65. Newfield Exploration has a 12 month low of $18.67 and a 12 month high of $35.20.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Wednesday, October 31st. The energy company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.15. The company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $661.27 million. Newfield Exploration had a net margin of 21.14% and a return on equity of 43.65%. The company’s revenue for the quarter was up 62.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share.
Several hedge funds have recently made changes to their positions in NFX. LPL Financial LLC raised its stake in shares of Newfield Exploration by 52.2% in the 1st quarter. LPL Financial LLC now owns 36,163 shares of the energy company’s stock valued at $883,000 after buying an additional 12,408 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Newfield Exploration by 5.5% in the 1st quarter. Principal Financial Group Inc. now owns 308,756 shares of the energy company’s stock valued at $7,540,000 after buying an additional 15,965 shares in the last quarter. IFM Investors Pty Ltd acquired a new position in shares of Newfield Exploration in the 2nd quarter valued at $293,000. Fisher Asset Management LLC acquired a new position in shares of Newfield Exploration in the 2nd quarter valued at $7,039,000. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of Newfield Exploration in the 2nd quarter valued at $561,000. Institutional investors own 99.29% of the company’s stock.
In related news, insider Lee K. Boothby sold 16,161 shares of the company’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $29.25, for a total transaction of $472,709.25. Following the completion of the transaction, the insider now directly owns 194,420 shares in the company, valued at approximately $5,686,785. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.59% of the stock is owned by corporate insiders.
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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