Newfield Exploration Co. (NYSE:NFX) – Equities research analysts at SunTrust Banks boosted their FY2018 earnings estimates for shares of Newfield Exploration in a research note issued on Monday, October 29th. SunTrust Banks analyst N. Dingmann now forecasts that the energy company will post earnings per share of $3.49 for the year, up from their prior forecast of $3.27. SunTrust Banks has a “Hold” rating and a $23.00 price objective on the stock. SunTrust Banks also issued estimates for Newfield Exploration’s FY2019 earnings at $4.24 EPS.
NFX has been the topic of a number of other reports. Piper Jaffray Companies initiated coverage on shares of Newfield Exploration in a report on Friday, September 28th. They issued an “overweight” rating on the stock. Morgan Stanley set a $31.00 price target on shares of Newfield Exploration and gave the stock a “hold” rating in a report on Friday, October 12th. Royal Bank of Canada restated a “buy” rating and issued a $36.00 price target on shares of Newfield Exploration in a report on Friday, July 13th. Zacks Investment Research cut shares of Newfield Exploration from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Finally, Goldman Sachs Group cut shares of Newfield Exploration from a “buy” rating to a “neutral” rating in a report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $36.40.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, July 31st. The energy company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.12. The firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $619.07 million. Newfield Exploration had a net margin of 17.53% and a return on equity of 41.07%. The business’s revenue for the quarter was up 68.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share.
In other Newfield Exploration news, insider Lee K. Boothby sold 16,161 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $29.25, for a total transaction of $472,709.25. Following the completion of the sale, the insider now directly owns 194,420 shares of the company’s stock, valued at $5,686,785. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.59% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc purchased a new position in shares of Newfield Exploration in the 2nd quarter valued at approximately $142,000. Amica Pension Fund Board of Trustees purchased a new position in shares of Newfield Exploration in the 2nd quarter valued at approximately $178,000. Amica Mutual Insurance Co. purchased a new position in shares of Newfield Exploration in the 2nd quarter valued at approximately $198,000. Signition LP purchased a new position in shares of Newfield Exploration in the 2nd quarter valued at approximately $201,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Newfield Exploration in the 2nd quarter valued at approximately $218,000. 99.29% of the stock is 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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