Equities Analysts Offer Predictions for Newfield Exploration Company’s FY2018 Earnings (NFX)
Newfield Exploration Company (NYSE:NFX) – Jefferies Group decreased their FY2018 earnings estimates for shares of Newfield Exploration in a research report issued to clients and investors on Monday. Jefferies Group analyst M. Hsu now expects that the energy company will earn $2.13 per share for the year, down from their prior forecast of $2.49. Jefferies Group has a “Buy” rating and a $46.00 price objective on the stock.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The business had revenue of $402 million for the quarter, compared to the consensus estimate of $413.70 million. During the same period in the previous year, the company posted $0.32 earnings per share. Newfield Exploration’s revenue for the quarter was up 5.5% compared to the same quarter last year.
Other equities research analysts also recently issued reports about the company. KLR Group upgraded Newfield Exploration from a “hold” rating to a “buy” rating in a report on Monday, May 15th. Goldman Sachs Group, Inc. (The) upgraded Newfield Exploration from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $52.00 to $45.00 in a report on Tuesday, May 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 target price on shares of Newfield Exploration in a report on Friday, May 26th. Scotiabank set a $47.00 target price on Newfield Exploration and gave the stock a “buy” rating in a report on Tuesday, May 16th. Finally, Piper Jaffray Companies started coverage on Newfield Exploration in a report on Monday, May 15th. They issued a “buy” rating and a $55.00 target price for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $43.21.
Newfield Exploration (NFX) traded up 2.08% during mid-day trading on Thursday, reaching $25.49. The company had a trading volume of 1,363,649 shares. The firm has a market capitalization of $5.04 billion, a P/E ratio of 16.53 and a beta of 1.48. Newfield Exploration has a one year low of $24.91 and a one year high of $50.00. The firm’s 50-day moving average is $26.99 and its 200-day moving average is $32.97.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. boosted its position in Newfield Exploration by 4.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 171,450 shares of the energy company’s stock valued at $6,328,000 after buying an additional 6,628 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Newfield Exploration by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 60,000 shares of the energy company’s stock valued at $2,214,000 after buying an additional 800 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Newfield Exploration during the first quarter valued at $365,000. DnB Asset Management AS boosted its position in Newfield Exploration by 0.8% in the first quarter. DnB Asset Management AS now owns 548,422 shares of the energy company’s stock valued at $20,242,000 after buying an additional 4,500 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Newfield Exploration during the first quarter valued at $208,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.
In other Newfield Exploration news, Director Roger B. Plank acquired 3,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the transaction, the director now owns 30,787 shares in the company, valued at $799,846.26. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.
About Newfield Exploration
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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