Newfield Exploration Co. (NFX) Forecasted to Post Q1 2018 Earnings of $0.88 Per Share
Newfield Exploration Co. (NYSE:NFX) – Equities research analysts at Piper Jaffray issued their Q1 2018 earnings per share (EPS) estimates for Newfield Exploration in a research report issued to clients and investors on Wednesday, April 11th. Piper Jaffray analyst D. Kistler forecasts that the energy company will earn $0.88 per share for the quarter. Piper Jaffray currently has a “Buy” rating and a $48.00 target price 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.
A number of other equities analysts also recently issued reports on NFX. Seaport Global Securities upgraded Newfield Exploration from a “sell” rating to a “neutral” rating in a research report on Tuesday, December 19th. Jefferies Group set a $40.00 price target on Newfield Exploration and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Bank of America upgraded 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. BMO Capital Markets reiterated a “hold” rating and set a $36.00 price target on shares of Newfield Exploration in a research report on Sunday, January 14th. Finally, Zacks Investment Research upgraded Newfield Exploration from a “hold” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Monday, January 15th. One equities research analyst has rated the stock with a sell rating, ten have given 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 $37.30.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The company had revenue of $509.00 million for the quarter, compared to the consensus estimate of $497.95 million. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. Newfield Exploration’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 earnings per share.
Large investors have recently bought and sold shares of the stock. Assetmark Inc. increased its holdings in shares of Newfield Exploration by 14,896.2% in the fourth quarter. Assetmark Inc. now owns 3,899 shares of the energy company’s stock valued at $123,000 after purchasing an additional 3,873 shares during the last quarter. ETRADE Capital Management LLC acquired a new stake in Newfield Exploration during the fourth quarter worth $211,000. Vident Investment Advisory LLC acquired a new stake in Newfield Exploration during the third quarter worth $212,000. MAI Capital Management acquired a new stake in Newfield Exploration during the fourth quarter worth $240,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in Newfield Exploration during the fourth quarter worth $257,000. 99.82% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Lee K. Boothby sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $31.75, for a total value of $381,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas G. Ricks purchased 8,250 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was bought at an average cost of $23.78 per share, with a total value of $196,185.00. Following the acquisition, the director now owns 66,447 shares of the company’s stock, valued at approximately $1,580,109.66. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by company insiders.
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Newfield Exploration Company Profile
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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