Newfield Exploration Co. (NYSE:NFX) – Investment analysts at Piper Jaffray Companies dropped their Q1 2019 earnings per share (EPS) estimates for shares of Newfield Exploration in a research note issued to investors on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now expects that the energy company will post earnings per share of $0.50 for the quarter, down from their prior estimate of $0.96. Piper Jaffray Companies currently has a “Overweight” rating on the stock. Piper Jaffray Companies also issued estimates for Newfield Exploration’s Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.55 EPS, Q4 2019 earnings at $0.65 EPS, FY2019 earnings at $2.18 EPS, Q1 2020 earnings at $0.69 EPS, Q2 2020 earnings at $0.62 EPS, Q3 2020 earnings at $0.68 EPS, Q4 2020 earnings at $0.80 EPS and FY2020 earnings at $2.79 EPS.
Several other research analysts have also commented on the company. Capital One Financial lowered Newfield Exploration from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Johnson Rice lowered Newfield Exploration to a “hold” rating and set a $25.00 price target on the stock. in a research report on Sunday, December 16th. Williams Capital lowered Newfield Exploration from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research report on Wednesday, December 12th. Seaport Global Securities lowered Newfield Exploration from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Monday, December 10th. Finally, Morgan Stanley cut their price target on Newfield Exploration from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $31.94.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Wednesday, October 31st. The energy company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.86 by $0.15. The company had revenue of $711.00 million for the quarter, compared to analyst estimates of $661.27 million. Newfield Exploration had a return on equity of 43.65% and a net margin of 21.14%. The firm’s revenue was up 62.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Newfield Exploration by 2.1% in the third quarter. Vanguard Group Inc. now owns 22,202,400 shares of the energy company’s stock valued at $640,096,000 after purchasing an additional 458,863 shares during the period. Vanguard Group Inc boosted its stake in shares of Newfield Exploration by 2.1% in the third quarter. Vanguard Group Inc now owns 22,202,400 shares of the energy company’s stock valued at $640,096,000 after buying an additional 458,863 shares in the last quarter. LSV Asset Management boosted its stake in shares of Newfield Exploration by 10.0% in the third quarter. LSV Asset Management now owns 6,123,641 shares of the energy company’s stock valued at $176,544,000 after buying an additional 554,266 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Newfield Exploration by 20.5% in the second quarter. Schroder Investment Management Group now owns 2,601,454 shares of the energy company’s stock valued at $78,824,000 after buying an additional 442,324 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Newfield Exploration by 10.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,508,298 shares of the energy company’s stock valued at $72,318,000 after buying an additional 232,555 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.
About Newfield Exploration
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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