Q3 2017 Earnings Estimate for Newfield Exploration Company (NFX) Issued By Jefferies Group
Newfield Exploration Company (NYSE:NFX) – Equities researchers at Jefferies Group dropped their Q3 2017 earnings per share estimates for Newfield Exploration in a report released on Tuesday. Jefferies Group analyst M. Hsu now forecasts that the energy company will post earnings per share of $0.29 for the quarter, down from their prior estimate of $0.37. 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 2017 earnings at $0.35 EPS, FY2017 earnings at $1.63 EPS, Q1 2018 earnings at $0.34 EPS and Q3 2018 earnings at $0.45 EPS.
NFX has been the topic of several other reports. Credit Suisse Group restated an “outperform” rating and issued a $47.00 price objective on shares of Newfield Exploration in a research report on Friday, June 2nd. Citigroup Inc. decreased their price objective on shares of Newfield Exploration from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Zacks Investment Research cut shares of Newfield Exploration from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. J P Morgan Chase & Co restated an “overweight” rating and issued a $36.00 price objective (down from $40.00) on shares of Newfield Exploration in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $42.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $42.50.
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Newfield Exploration (NYSE:NFX) opened at 25.43 on Wednesday. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 16.49 and a beta of 1.48. The firm has a 50-day moving average of $26.51 and a 200-day moving average of $32.31. Newfield Exploration has a 52-week low of $24.41 and a 52-week high of $50.00.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $402 million during the quarter, compared to analyst estimates of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. Newfield Exploration’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share.
In other news, Director Roger B. Plank acquired 3,000 shares of the stock in a transaction on Friday, August 11th. The stock was 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 of the company’s stock, valued at approximately $799,846.26. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.54% of the company’s stock.
A number of institutional investors have recently made changes to their positions in NFX. Wellington Management Group LLP raised its position 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 in the last quarter. Vanguard Group Inc. raised its position in shares of Newfield Exploration by 3.3% in the second quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock valued at $673,862,000 after buying an additional 760,793 shares in the last quarter. BlackRock Inc. raised its position in shares of Newfield Exploration by 0.4% in the second quarter. BlackRock Inc. now owns 13,843,741 shares of the energy company’s stock valued at $393,993,000 after buying an additional 55,230 shares in the last quarter. State Street Corp raised its position in shares of Newfield Exploration by 5.6% in the second quarter. State Street Corp now owns 12,109,780 shares of the energy company’s stock valued at $344,646,000 after buying an additional 638,807 shares in the last quarter. Finally, FMR LLC raised its position in shares of Newfield Exploration by 9.9% in the second quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock valued at $297,683,000 after buying an additional 938,740 shares in the last quarter. 99.15% of the stock is owned by institutional investors and hedge funds.
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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