B. Riley Weighs in on Newfield Exploration Co.’s Q4 2018 Earnings (NFX)

Newfield Exploration Co. (NYSE:NFX) – Equities research analysts at B. Riley lowered their Q4 2018 earnings per share (EPS) estimates for Newfield Exploration in a research note issued to investors on Wednesday, November 21st. B. Riley analyst R. Rashid now anticipates that the energy company will post earnings of $0.81 per share for the quarter, down from their prior forecast of $0.95.

Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Wednesday, October 31st. The energy company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.15. Newfield Exploration had a net margin of 21.14% and a return on equity of 43.65%. The business had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $661.27 million. During the same period in the previous year, the business earned $0.52 earnings per share. The company’s revenue was up 62.0% on a year-over-year basis.

A number of other research firms have also issued reports on NFX. Edward Jones lowered Newfield Exploration to a “hold” rating in a report on Friday, November 2nd. ValuEngine lowered Newfield Exploration from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. SunTrust Banks lowered their target price on Newfield Exploration from $30.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, October 29th. Morgan Stanley set a $31.00 target price on Newfield Exploration and gave the stock a “hold” rating in a report on Friday, October 12th. Finally, Citigroup lowered Newfield Exploration from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $24.00 in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.65.

Shares of NYSE NFX opened at $18.58 on Thursday. The stock has a market cap of $3.54 billion, a P/E ratio of 8.64, a P/E/G ratio of 0.41 and a beta of 1.65. Newfield Exploration has a fifty-two week low of $17.61 and a fifty-two week high of $35.20. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 1.30.

A number of large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its holdings in shares of Newfield Exploration by 11.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 17,639 shares of the energy company’s stock valued at $534,000 after buying an additional 1,835 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Newfield Exploration by 13.0% during the 2nd quarter. 180 Wealth Advisors LLC now owns 20,136 shares of the energy company’s stock valued at $609,000 after buying an additional 2,316 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Newfield Exploration by 6.0% during the 3rd quarter. Franklin Resources Inc. now owns 49,064 shares of the energy company’s stock valued at $1,415,000 after buying an additional 2,759 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Newfield Exploration by 5.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 57,663 shares of the energy company’s stock valued at $1,744,000 after buying an additional 2,881 shares during the last quarter. Finally, Norinchukin Bank The lifted its holdings in shares of Newfield Exploration by 13.6% during the 3rd quarter. Norinchukin Bank The now owns 25,706 shares of the energy company’s stock valued at $741,000 after buying an additional 3,078 shares during the last quarter.

In other Newfield Exploration news, insider Lee K. Boothby sold 16,161 shares of Newfield Exploration stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $29.25, for a total transaction of $472,709.25. Following the transaction, the insider now owns 194,420 shares of the company’s stock, valued at approximately $5,686,785. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.59% of the company’s stock.

Newfield Exploration Company Profile

Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.

Further Reading: Cost of Capital Explained

Earnings History and Estimates for Newfield Exploration (NYSE:NFX)

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