FY2016 EPS Estimates for Newfield Exploration Co. Raised by Jefferies Group (NFX)
Newfield Exploration Co. (NYSE:NFX) – Investment analysts at Jefferies Group upped their FY2016 EPS estimates for shares of Newfield Exploration in a note issued to investors on Thursday. Jefferies Group analyst J. Wolff now expects that the firm will post earnings of $0.91 per share for the year, up from their previous estimate of $0.48. Jefferies Group has a “Hold” rating and a $46.00 price objective on the stock. Jefferies Group also issued estimates for Newfield Exploration’s Q4 2016 earnings at $0.20 EPS, Q4 2017 earnings at $0.36 EPS and FY2017 earnings at $1.16 EPS.
A number of other equities research analysts have also recently commented on NFX. Johnson Rice initiated coverage on Newfield Exploration in a research note on Thursday, July 28th. They issued a “buy” rating for the company. JPMorgan Chase & Co. restated a “buy” rating on shares of Newfield Exploration in a research note on Wednesday, August 3rd. Wunderlich raised their price objective on Newfield Exploration from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Stifel Nicolaus raised their price objective on Newfield Exploration from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, Barclays PLC cut Newfield Exploration from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $35.00 to $44.00 in a research note on Friday, August 5th. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $47.50.
Newfield Exploration (NYSE:NFX) opened at 40.17 on Monday. Newfield Exploration has a 1-year low of $20.84 and a 1-year high of $47.56. The firm has a 50-day moving average price of $41.60 and a 200 day moving average price of $42.03. The company’s market capitalization is $7.92 billion.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, November 1st. The energy company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.18. Newfield Exploration had a positive return on equity of 12.41% and a negative net margin of 134.32%. The business earned $392 million during the quarter, compared to the consensus estimate of $414.42 million. During the same period in the prior year, the company posted $0.21 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Newfield Exploration by 12.5% in the second quarter. Vanguard Group Inc. now owns 19,099,273 shares of the energy company’s stock valued at $843,806,000 after buying an additional 2,128,367 shares in the last quarter. State Street Corp increased its stake in Newfield Exploration by 15.0% in the second quarter. State Street Corp now owns 9,771,173 shares of the energy company’s stock valued at $431,692,000 after buying an additional 1,271,965 shares in the last quarter. Boston Partners increased its stake in Newfield Exploration by 69.1% in the third quarter. Boston Partners now owns 9,634,790 shares of the energy company’s stock valued at $418,728,000 after buying an additional 3,935,749 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Newfield Exploration by 1.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,385,350 shares of the energy company’s stock valued at $282,105,000 after buying an additional 65,942 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in Newfield Exploration by 2.6% in the third quarter. BlackRock Fund Advisors now owns 3,696,611 shares of the energy company’s stock valued at $160,655,000 after buying an additional 94,021 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.
About Newfield Exploration
Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China.
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