Newfield Exploration Co. (NYSE:NFX) – Investment analysts at Seaport Global Securities increased their Q1 2018 earnings per share estimates for Newfield Exploration in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the energy company will earn $0.50 per share for the quarter, up from their prior forecast of $0.09. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Newfield Exploration’s Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.53 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $2.05 EPS.
A number of other equities analysts have also issued reports on NFX. Jefferies Group set a $40.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies reduced their target price on Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, September 18th. Stifel Nicolaus set a $37.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research note on Thursday, October 5th. BMO Capital Markets set a $34.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Finally, Barclays raised their target price on Newfield Exploration from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $37.90.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. The firm had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $419.75 million. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS.
In other Newfield Exploration news, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $29.10, for a total transaction of $349,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Juanita F. Romans sold 3,500 shares of Newfield Exploration stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $30.02, for a total value of $105,070.00. Following the transaction, the director now owns 39,034 shares of the company’s stock, valued at approximately $1,171,800.68. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock valued at $1,210,270 in the last quarter. Company insiders own 0.54% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schroder Investment Management Group increased its stake in shares of Newfield Exploration by 67.3% in the 2nd quarter. Schroder Investment Management Group now owns 1,236,114 shares of the energy company’s stock valued at $35,353,000 after purchasing an additional 497,431 shares in the last quarter. Atlantic Trust Group LLC increased its stake in shares of Newfield Exploration by 22.8% in the 2nd quarter. Atlantic Trust Group LLC now owns 253,908 shares of the energy company’s stock valued at $7,226,000 after purchasing an additional 47,194 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Newfield Exploration by 21.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,229 shares of the energy company’s stock valued at $1,458,000 after purchasing an additional 8,972 shares in the last quarter. 361 Capital LLC increased its stake in shares of Newfield Exploration by 15.6% in the 2nd quarter. 361 Capital LLC now owns 183,420 shares of the energy company’s stock valued at $5,220,000 after purchasing an additional 24,812 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Newfield Exploration by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock valued at $673,862,000 after purchasing an additional 760,793 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.
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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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