Newfield Exploration Company (NYSE:NFX) – Equities research analysts at SunTrust Banks dropped their Q2 2017 earnings per share estimates for Newfield Exploration Company in a research report issued on Monday. SunTrust Banks analyst N. Dingmann now anticipates that the energy company will post earnings of $0.42 per share for the quarter, down from their prior forecast of $0.48. SunTrust Banks also issued estimates for Newfield Exploration Company’s Q3 2017 earnings at $0.51 EPS, Q4 2017 earnings at $0.62 EPS, FY2017 earnings at $2.12 EPS, FY2018 earnings at $2.51 EPS, FY2019 earnings at $3.42 EPS and FY2020 earnings at $4.12 EPS.
Newfield Exploration Company (NYSE:NFX) last announced its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.12. The business had revenue of $417 million during the quarter, compared to the consensus estimate of $425.44 million. Newfield Exploration Company had a negative net margin of 28.60% and a positive return on equity of 33.87%.
Several other equities analysts also recently issued reports on the stock. Deutsche Bank AG upped their price objective on shares of Newfield Exploration Company from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, March 7th. Williams Capital reissued a “buy” rating and set a $56.00 price objective on shares of Newfield Exploration Company in a research note on Wednesday, May 3rd. Scotiabank set a $46.00 price objective on shares of Newfield Exploration Company and gave the company a “buy” rating in a research note on Monday, March 27th. KLR Group raised shares of Newfield Exploration Company from a “hold” rating to a “buy” rating and upped their price objective for the company from $41.00 to $42.00 in a research note on Monday, May 8th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $48.00 price objective on shares of Newfield Exploration Company in a research note on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $48.56.
Shares of Newfield Exploration Company (NYSE NFX) opened at 29.33 on Thursday. Newfield Exploration Company has a one year low of $28.69 and a one year high of $50.00. The stock’s 50 day moving average is $32.79 and its 200-day moving average is $37.90. The firm’s market cap is $5.78 billion.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cipher Capital LP raised its position in shares of Newfield Exploration Company by 13.8% in the first quarter. Cipher Capital LP now owns 36,718 shares of the energy company’s stock valued at $1,355,000 after buying an additional 4,458 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Newfield Exploration Company during the fourth quarter worth about $28,245,000. Suntrust Banks Inc. acquired a new position in Newfield Exploration Company during the first quarter worth about $423,000. Guggenheim Capital LLC increased its position in Newfield Exploration Company by 20.6% in the fourth quarter. Guggenheim Capital LLC now owns 757,367 shares of the energy company’s stock worth $30,674,000 after buying an additional 129,154 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Newfield Exploration Company during the first quarter worth about $208,000. 99.40% of the stock is owned by institutional investors.
In other Newfield Exploration Company news, insider Lee K. Boothby sold 9,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $34.57, for a total transaction of $311,130.00. Following the completion of the transaction, the insider now directly owns 335,047 shares of the company’s stock, valued at approximately $11,582,574.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.
About Newfield Exploration Company
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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