Piper Jaffray Weighs in on Newfield Exploration Co.’s Q1 2018 Earnings (NFX)

Newfield Exploration Co. (NYSE:NFX) – Stock analysts at Piper Jaffray issued their Q1 2018 earnings estimates for Newfield Exploration in a research report issued on Wednesday, April 11th. Piper Jaffray analyst D. Kistler forecasts that the energy company will post earnings of $0.88 per share for the quarter. Piper Jaffray has a “Buy” rating and a $48.00 price objective on the stock. Piper Jaffray also issued estimates for Newfield Exploration’s Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $0.97 EPS, Q4 2018 earnings at $1.05 EPS, Q1 2019 earnings at $1.14 EPS, Q2 2019 earnings at $1.06 EPS, Q3 2019 earnings at $1.12 EPS and Q4 2019 earnings at $1.26 EPS.

Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.11. Newfield Exploration had a net margin of 24.17% and a return on equity of 35.57%. The business had revenue of $509.00 million for the quarter, compared to analyst estimates of $497.95 million. During the same quarter last year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year.

Several other analysts have also issued reports on the stock. Williams Capital set a $50.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a research report on Wednesday, February 21st. Bank of America upgraded shares of Newfield Exploration from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Thursday, January 4th. Stifel Nicolaus set a $45.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Friday, March 2nd. Seaport Global Securities upgraded shares of Newfield Exploration from a “sell” rating to a “neutral” rating in a research report on Tuesday, December 19th. Finally, KLR Group upgraded shares of Newfield Exploration from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $37.30.

Shares of NYSE NFX opened at $25.89 on Monday. Newfield Exploration has a 52-week low of $22.72 and a 52-week high of $37.00. The stock has a market capitalization of $5,194.78, a PE ratio of 12.04, a P/E/G ratio of 0.73 and a beta of 1.53. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.73.

Hedge funds have recently modified their holdings of the business. Assetmark Inc. raised its stake in Newfield Exploration by 14,896.2% during the fourth quarter. Assetmark Inc. now owns 3,899 shares of the energy company’s stock worth $123,000 after purchasing an additional 3,873 shares during the period. ETRADE Capital Management LLC purchased a new position in Newfield Exploration during the fourth quarter worth about $211,000. Vident Investment Advisory LLC purchased a new stake in shares of Newfield Exploration in the 3rd quarter valued at approximately $212,000. MAI Capital Management purchased a new stake in shares of Newfield Exploration in the 4th quarter valued at approximately $240,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Newfield Exploration in the 4th quarter valued at approximately $257,000. 99.82% of the stock is currently owned by institutional investors.

In other Newfield Exploration news, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $31.75, for a total transaction of $381,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roger B. Plank bought 2,000 shares of Newfield Exploration stock in a transaction on Wednesday, March 28th. The shares were purchased at an average cost of $23.38 per share, for a total transaction of $46,760.00. Following the completion of the purchase, the director now directly owns 32,787 shares of the company’s stock, valued at $766,560.06. The disclosure for this purchase can be found here. 0.59% of the stock is owned by insiders.

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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.

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

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