Newfield Exploration Company (NYSE:NFX) – Investment analysts at SunTrust Banks cut their Q3 2017 earnings per share estimates for shares of Newfield Exploration in a research note issued on Wednesday. SunTrust Banks analyst N. Dingmann now anticipates that the energy company will post earnings of $0.45 per share for the quarter, down from their prior estimate of $0.54. SunTrust Banks also issued estimates for Newfield Exploration’s Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $1.98 EPS, FY2019 earnings at $3.45 EPS and FY2020 earnings at $4.07 EPS.
NFX has been the subject of a number of other research reports. Barclays PLC reiterated an “equal weight” rating and set a $33.00 price target (down previously from $39.00) on shares of Newfield Exploration in a research note on Saturday, April 22nd. BidaskClub downgraded Newfield Exploration from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. J P Morgan Chase & Co reiterated an “overweight” rating and set a $42.00 price target (down previously from $48.00) on shares of Newfield Exploration in a research note on Monday, June 5th. Royal Bank Of Canada set a $54.00 price target on Newfield Exploration and gave the company a “buy” rating in a research note on Saturday, June 3rd. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $47.00 price target on shares of Newfield Exploration in a research note on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $43.46.
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Shares of Newfield Exploration (NYSE:NFX) opened at 26.34 on Monday. The firm has a market capitalization of $5.20 billion, a PE ratio of 17.08 and a beta of 1.48. The company’s 50 day moving average price is $27.57 and its 200-day moving average price is $34.00. Newfield Exploration has a 52 week low of $25.46 and a 52 week high of $50.00.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The company had revenue of $402 million for the quarter, compared to analyst estimates of $413.70 million. During the same period last year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFX. BlackRock Inc. raised its position in Newfield Exploration by 2,798.4% in the first quarter. BlackRock Inc. now owns 13,788,511 shares of the energy company’s stock worth $508,934,000 after buying an additional 13,312,785 shares in the last quarter. Wellington Management Group LLP raised its position in Newfield Exploration by 31.1% in the first quarter. Wellington Management Group LLP now owns 27,063,455 shares of the energy company’s stock worth $998,913,000 after buying an additional 6,422,891 shares in the last quarter. Prudential Financial Inc. raised its position in Newfield Exploration by 45.5% in the first quarter. Prudential Financial Inc. now owns 3,825,967 shares of the energy company’s stock worth $141,216,000 after buying an additional 1,197,112 shares in the last quarter. Vanguard Group Inc. raised its position in Newfield Exploration by 5.2% in the first quarter. Vanguard Group Inc. now owns 22,916,735 shares of the energy company’s stock worth $845,856,000 after buying an additional 1,131,263 shares in the last quarter. Finally, State Street Corp raised its position in Newfield Exploration by 10.3% in the first quarter. State Street Corp now owns 11,470,973 shares of the energy company’s stock worth $423,392,000 after buying an additional 1,066,743 shares in the last quarter. Institutional investors and hedge funds own 99.05% of the company’s stock.
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.
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