Q3 2017 EPS Estimates for Newfield Exploration Company Increased by Seaport Global Securities (NFX)
Newfield Exploration Company (NYSE:NFX) – Stock analysts at Seaport Global Securities raised their Q3 2017 earnings per share estimates for shares of Newfield Exploration in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the energy company will post earnings of $0.37 per share for the quarter, up from their prior forecast of $0.35. Seaport Global Securities has a “Sell” rating and a $24.00 price target on the stock. Seaport Global Securities also issued estimates for Newfield Exploration’s Q4 2017 earnings at $0.46 EPS and FY2017 earnings at $1.82 EPS.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The firm had revenue of $402.00 million during the quarter, compared to analysts’ expectations of $413.70 million. During the same period last year, the company earned $0.32 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis.
A number of other brokerages also recently commented on NFX. Barclays PLC reiterated an “equal weight” rating and set a $22.00 price target (down from $23.00) on shares of Newfield Exploration in a report on Wednesday, August 9th. Williams Capital set a $45.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Cowen and Company set a $35.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Newfield Exploration from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $46.00 price target on shares of Newfield Exploration in a report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $41.14.
Shares of Newfield Exploration (NYSE NFX) opened at 30.25 on Friday. The stock has a market cap of $5.98 billion, a PE ratio of 19.62 and a beta of 1.53. Newfield Exploration has a 1-year low of $24.41 and a 1-year high of $50.00. The stock has a 50 day moving average of $27.28 and a 200 day moving average of $30.23.
In other Newfield Exploration news, Director Roger B. Plank acquired 3,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was bought at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the completion of the purchase, the director now directly owns 30,787 shares in the company, valued at $799,846.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $26.18, for a total transaction of $314,160.00. Following the sale, the insider now owns 279,322 shares of the company’s stock, valued at $7,312,649.96. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Newfield Exploration by 3.3% during the second quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock worth $673,862,000 after purchasing an additional 760,793 shares in the last quarter. BlackRock Inc. lifted its position in shares of Newfield Exploration by 0.4% during the second quarter. BlackRock Inc. now owns 13,843,741 shares of the energy company’s stock worth $393,993,000 after purchasing an additional 55,230 shares in the last quarter. State Street Corp lifted its position in shares of Newfield Exploration by 5.6% during the second quarter. State Street Corp now owns 12,109,780 shares of the energy company’s stock worth $344,646,000 after purchasing an additional 638,807 shares in the last quarter. FMR LLC lifted its position in shares of Newfield Exploration by 9.9% during the second quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock worth $297,683,000 after purchasing an additional 938,740 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Newfield Exploration by 3.0% during the first quarter. Clearbridge Investments LLC now owns 8,865,153 shares of the energy company’s stock worth $327,213,000 after purchasing an additional 256,245 shares in the last quarter. 99.15% of the stock is currently 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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