Newfield Exploration Company (NYSE:NFX) – Research analysts at SunTrust Banks decreased their FY2018 earnings per share (EPS) estimates for Newfield Exploration in a report issued on Wednesday. SunTrust Banks analyst N. Dingmann now forecasts that the energy company will post earnings of $2.35 per share for the year, down from their prior estimate of $2.51.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company had revenue of $402 million during the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. Newfield Exploration’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS.
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A number of other equities analysts have also recently commented on the stock. BMO Capital Markets reissued a “buy” rating and issued a $34.00 price target on shares of Newfield Exploration in a research note on Friday. Barclays PLC cut their price target on shares of Newfield Exploration from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday. Williams Capital set a $45.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub raised shares of Newfield Exploration from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Newfield Exploration from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $43.46.
Shares of Newfield Exploration (NYSE:NFX) traded up 5.50% during trading on Friday, reaching $27.83. 2,823,443 shares of the company traded hands. The stock has a market capitalization of $5.50 billion, a PE ratio of 18.05 and a beta of 1.48. The firm’s 50-day moving average is $27.84 and its 200-day moving average is $34.15. Newfield Exploration has a 12-month low of $25.46 and a 12-month high of $50.00.
Several institutional investors have recently modified their holdings of NFX. Quadrature Capital Ltd acquired a new position in shares of Newfield Exploration during the fourth quarter valued at $235,000. Kentucky Retirement Systems acquired a new position in shares of Newfield Exploration during the fourth quarter valued at $580,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Newfield Exploration during the fourth quarter valued at $259,000. Macquarie Group Ltd. boosted its position in shares of Newfield Exploration by 10.9% in the fourth quarter. Macquarie Group Ltd. now owns 412,371 shares of the energy company’s stock valued at $16,701,000 after buying an additional 40,500 shares during the period. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of 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 during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.
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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