KeyCorp Comments on Newfield Exploration Co.’s Q1 2018 Earnings (NFX)
Newfield Exploration Co. (NYSE:NFX) – Investment analysts at KeyCorp issued their Q1 2018 earnings per share estimates for shares of Newfield Exploration in a research report issued on Tuesday. KeyCorp analyst D. Deckelbaum expects that the firm will earn $0.58 per share for the quarter. KeyCorp also issued estimates for Newfield Exploration’s Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.67 EPS and FY2018 earnings at $2.63 EPS.
Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, November 1st. The energy company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.18. The company earned $392 million during the quarter, compared to analyst estimates of $414.42 million. Newfield Exploration had a negative net margin of 134.32% and a positive return on equity of 12.41%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS.
Other equities analysts have also issued research reports about the company. Stifel Nicolaus lifted their target price on Newfield Exploration from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Wunderlich boosted their price target on Newfield Exploration from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. JPMorgan Chase & Co. restated a “buy” rating on shares of Newfield Exploration in a research note on Wednesday, August 3rd. Johnson Rice initiated coverage on Newfield Exploration in a research note on Thursday, July 28th. They set a “buy” rating on the stock. Finally, Williams Capital initiated coverage on Newfield Exploration in a research note on Monday, August 29th. They set a “buy” rating and a $58.00 price target on the stock. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Newfield Exploration currently has an average rating of “Buy” and an average price target of $47.50.
Shares of Newfield Exploration (NYSE:NFX) opened at 42.02 on Wednesday. The stock’s market capitalization is $8.29 billion. Newfield Exploration has a 12-month low of $20.84 and a 12-month high of $47.56. The company has a 50-day moving average of $41.28 and a 200 day moving average of $42.30.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of 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 during the last quarter. State Street Corp boosted its stake in shares of 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 during the last quarter. Boston Partners boosted its stake in shares of 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 during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of 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 during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of 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 during the last quarter. Institutional investors own 95.83% of the company’s stock.
Newfield Exploration Company Profile
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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