Newfield Exploration Co. (NYSE:NFX) – SunTrust Banks increased their FY2018 earnings per share estimates for Newfield Exploration in a research note issued on Tuesday. SunTrust Banks analyst N. Dingmann now expects that the energy company will post earnings per share of $2.60 for the year, up from their prior forecast of $2.41. SunTrust Banks has a “Buy” rating and a $37.00 price target on the stock. SunTrust Banks also issued estimates for Newfield Exploration’s FY2019 earnings at $3.96 EPS.
Other equities research analysts also recently issued reports about the company. Jefferies Group set a $40.00 price objective on Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday, December 20th. Seaport Global Securities upgraded Newfield Exploration from a “sell” rating to a “neutral” rating in a report on Tuesday, December 19th. JPMorgan Chase & Co. downgraded Newfield Exploration from an “overweight” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, December 15th. Credit Suisse Group initiated coverage on Newfield Exploration in a report on Monday, December 11th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Wolfe Research downgraded Newfield Exploration from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Newfield Exploration presently has a consensus rating of “Buy” and an average price target of $37.90.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.09. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The firm had revenue of $439.00 million during the quarter, compared to the consensus estimate of $419.75 million. During the same period last year, the company earned $0.45 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis.
In other news, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $31.30, for a total transaction of $375,600.00. Following the transaction, the insider now directly owns 243,322 shares of the company’s stock, valued at approximately $7,615,978.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Juanita F. Romans sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $30.02, for a total value of $105,070.00. Following the completion of the transaction, the director now directly owns 39,034 shares in the company, valued at $1,171,800.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,500 shares of company stock worth $861,070. Insiders own 0.54% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of NFX. Pacer Advisors Inc. lifted its holdings in Newfield Exploration by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock worth $116,000 after purchasing an additional 319 shares in the last quarter. Tiedemann Wealth Management LLC lifted its holdings in Newfield Exploration by 36.0% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock worth $148,000 after purchasing an additional 7,664 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in Newfield Exploration by 17.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock worth $197,000 after purchasing an additional 1,013 shares in the last quarter. Koch Industries Inc. purchased a new position in Newfield Exploration in the 2nd quarter worth approximately $209,000. Finally, Vident Investment Advisory LLC purchased a new position in Newfield Exploration in the 3rd quarter worth approximately $212,000. 99.71% of the stock is currently owned by institutional investors.
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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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