Newfield Exploration Co. (NYSE:NFX) – Equities researchers at B. Riley cut their FY2018 earnings per share (EPS) estimates for Newfield Exploration in a report issued on Wednesday, November 21st. B. Riley analyst R. Rashid now forecasts that the energy company will post earnings of $3.59 per share for the year, down from their prior forecast of $3.73. B. Riley also issued estimates for Newfield Exploration’s Q1 2019 earnings at $0.77 EPS, Q2 2019 earnings at $0.79 EPS, Q3 2019 earnings at $0.94 EPS, Q4 2019 earnings at $1.04 EPS, FY2019 earnings at $3.54 EPS, Q1 2020 earnings at $1.08 EPS, Q2 2020 earnings at $1.16 EPS, Q3 2020 earnings at $1.28 EPS and FY2020 earnings at $4.87 EPS.
Several other research analysts have also recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Newfield Exploration from $32.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, September 26th. Piper Jaffray Companies started coverage on shares of Newfield Exploration in a report on Friday, September 28th. They set an “overweight” rating for the company. ValuEngine cut shares of Newfield Exploration from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Newfield Exploration from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, October 18th. Finally, SunTrust Banks cut their target price on shares of Newfield Exploration from $30.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, October 29th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $35.47.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings data on Wednesday, October 31st. The energy company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.15. Newfield Exploration had a net margin of 21.14% and a return on equity of 43.65%. The firm had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $661.27 million. During the same period in the previous year, the company earned $0.52 earnings per share. The firm’s quarterly revenue was up 62.0% on a year-over-year basis.
In related news, insider Lee K. Boothby sold 16,161 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $29.25, for a total transaction of $472,709.25. Following the completion of the sale, the insider now directly owns 194,420 shares in the company, valued at $5,686,785. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.59% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of NFX. LSV Asset Management boosted its position in shares of Newfield Exploration by 604.9% in the second quarter. LSV Asset Management now owns 5,569,375 shares of the energy company’s stock worth $168,473,000 after purchasing an additional 4,779,275 shares during the period. BlueMountain Capital Management LLC bought a new position in shares of Newfield Exploration in the second quarter worth approximately $66,428,000. Caymus Capital Partners L.P. bought a new position in shares of Newfield Exploration in the third quarter worth approximately $45,784,000. Carillon Tower Advisers Inc. boosted its position in shares of Newfield Exploration by 167.8% in the second quarter. Carillon Tower Advisers Inc. now owns 1,736,992 shares of the energy company’s stock worth $52,544,000 after purchasing an additional 1,088,350 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Newfield Exploration in the second quarter worth approximately $30,365,000.
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.
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