Newfield Exploration Co. (NYSE:NFX) – Analysts at Seaport Global Securities raised their FY2018 EPS estimates for shares of Newfield Exploration in a research note issued to investors on Wednesday, May 23rd. Seaport Global Securities analyst M. Kelly now anticipates that the energy company will earn $2.83 per share for the year, up from their prior forecast of $2.59. Seaport Global Securities has a “Buy” rating and a $38.00 price objective on the stock.
A number of other brokerages also recently commented on NFX. Jefferies Group set a $35.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Friday, February 23rd. UBS initiated coverage on Newfield Exploration in a report on Wednesday, March 7th. They issued a “buy” rating and a $30.00 price objective for the company. Zacks Investment Research downgraded Newfield Exploration from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 31st. KLR Group upgraded Newfield Exploration from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Thursday, February 22nd. Finally, Tudor Pickering downgraded Newfield Exploration from a “buy” rating to a “hold” rating in a report on Thursday, May 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.57.
Shares of Newfield Exploration stock opened at $29.17 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. The company has a market cap of $5.94 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 0.74 and a beta of 1.51. Newfield Exploration has a 52 week low of $22.72 and a 52 week high of $35.20.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, May 1st. The energy company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The company had revenue of $580.00 million during the quarter, compared to the consensus estimate of $552.56 million. Newfield Exploration had a return on equity of 36.67% and a net margin of 18.96%. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share.
In other news, Director Roger B. Plank bought 2,000 shares of the company’s stock in a transaction on Wednesday, March 28th. The shares were acquired at an average cost of $23.38 per share, with a total value of $46,760.00. Following the completion of the transaction, the director now owns 32,787 shares of the company’s stock, valued at approximately $766,560.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas G. Ricks bought 8,250 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was purchased at an average cost of $23.78 per share, for a total transaction of $196,185.00. Following the completion of the transaction, the director now directly 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. Company insiders own 0.59% of the company’s stock.
A number of large investors have recently made changes to their positions in NFX. Bank of Montreal Can boosted its position in Newfield Exploration by 18.4% in the fourth quarter. Bank of Montreal Can now owns 182,693 shares of the energy company’s stock worth $5,760,000 after purchasing an additional 28,350 shares during the last quarter. Creative Planning purchased a new position in Newfield Exploration in the fourth quarter worth about $1,394,000. Schwab Charles Investment Management Inc. boosted its position in Newfield Exploration by 1.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,092,553 shares of the energy company’s stock worth $34,449,000 after purchasing an additional 17,026 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Newfield Exploration by 51.6% in the fourth quarter. State of Alaska Department of Revenue now owns 36,770 shares of the energy company’s stock worth $1,159,000 after purchasing an additional 12,510 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its position in Newfield Exploration by 51.2% in the fourth quarter. CENTRAL TRUST Co now owns 9,171 shares of the energy company’s stock worth $289,000 after purchasing an additional 3,104 shares during the last quarter. 99.36% of the stock is currently owned by institutional investors and hedge funds.
Newfield Exploration Company Profile
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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