Jefferies Group Weighs in on Newfield Exploration Company’s Q2 2018 Earnings (NFX)
Newfield Exploration Company (NYSE:NFX) – Analysts at Jefferies Group dropped their Q2 2018 earnings estimates for Newfield Exploration in a report issued on Tuesday. Jefferies Group analyst M. Hsu now expects that the energy company will post earnings of $0.35 per share for the quarter, down from their previous forecast of $0.50. Jefferies Group has a “Buy” rating and a $40.00 price target on the stock. Jefferies Group also issued estimates for Newfield Exploration’s Q4 2018 earnings at $0.42 EPS and FY2018 earnings at $1.56 EPS.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $402 million during the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. ILLEGAL ACTIVITY WARNING: “Jefferies Group Weighs in on Newfield Exploration Company’s Q2 2018 Earnings (NFX)” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/09/02/jefferies-group-weighs-in-on-newfield-exploration-companys-q2-2018-earnings-nfx.html.
Other analysts have also issued research reports about the company. Royal Bank Of Canada set a $54.00 price objective on Newfield Exploration and gave the company a “buy” rating in a research note on Saturday, June 3rd. KLR Group raised Newfield Exploration from a “hold” rating to a “buy” rating in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) raised Newfield Exploration from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $52.00 to $45.00 in a research note on Tuesday, May 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price objective on shares of Newfield Exploration in a research note on Friday, May 26th. Finally, Scotiabank set a $47.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company. Newfield Exploration presently has a consensus rating of “Buy” and an average price target of $42.50.
Newfield Exploration (NYSE NFX) opened at 26.10 on Thursday. The firm has a 50-day moving average price of $26.40 and a 200-day moving average price of $31.77. Newfield Exploration has a one year low of $24.41 and a one year high of $50.00. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 16.93 and a beta of 1.49.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Newfield Exploration by 2,798.4% in the first quarter. BlackRock Inc. now owns 13,788,511 shares of the energy company’s stock valued at $508,934,000 after buying an additional 13,312,785 shares during the period. Wellington Management Group LLP increased its stake in shares of Newfield Exploration by 31.1% in the first quarter. Wellington Management Group LLP now owns 27,063,455 shares of the energy company’s stock valued at $998,913,000 after buying an additional 6,422,891 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Newfield Exploration during the second quarter valued at about $42,542,000. Prudential Financial Inc. increased its stake in shares of Newfield Exploration by 45.5% in the first quarter. Prudential Financial Inc. now owns 3,825,967 shares of the energy company’s stock valued at $141,216,000 after buying an additional 1,197,112 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Newfield Exploration by 5.2% in the first quarter. Vanguard Group Inc. now owns 22,916,735 shares of the energy company’s stock valued at $845,856,000 after buying an additional 1,131,263 shares during the period. Institutional investors own 99.15% of the company’s stock.
In other news, Director Roger B. Plank bought 3,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $25.98 per share, for a total transaction of $77,940.00. Following the transaction, the director now owns 30,787 shares in the company, valued at $799,846.26. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by company 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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