Newfield Exploration Company (NYSE:NFX) - Investment analysts at Williams Capital increased their FY2017 earnings per share (EPS) estimates for Newfield Exploration in a research report issued to clients and investors on Tuesday. Williams Capital analyst G. Sorbara now anticipates that the energy company will earn $2.24 per share for the year, up from their prior estimate of $2.23. Williams Capital has a “Buy” rating and a $56.00 price objective on the stock. Williams Capital also issued estimates for Newfield Exploration’s FY2018 earnings at $3.04 EPS and FY2019 earnings at $4.74 EPS.
Newfield Exploration (NYSE:NFX) last issued its earnings results on Tuesday, May 2nd. The energy company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.12. Newfield Exploration had a negative net margin of 28.60% and a positive return on equity of 33.87%. The firm had revenue of $417 million for the quarter, compared to analysts’ expectations of $425.44 million.
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A number of other analysts have also recently weighed in on NFX. Scotiabank set a $46.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Monday, March 27th. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 target price on shares of Newfield Exploration in a research note on Wednesday, April 12th. Barclays PLC reissued an “equal weight” rating and issued a $33.00 target price (down previously from $39.00) on shares of Newfield Exploration in a research note on Saturday, April 22nd. Royal Bank Of Canada reissued a “buy” rating and issued a $54.00 target price on shares of Newfield Exploration in a research note on Tuesday, April 25th. Finally, BMO Capital Markets set a $40.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $45.93.
Newfield Exploration (NYSE NFX) opened at 27.88 on Thursday. The company’s market cap is $5.50 billion. Newfield Exploration has a one year low of $25.46 and a one year high of $50.00. The firm has a 50-day moving average of $28.57 and a 200-day moving average of $35.11.
In other Newfield Exploration news, insider Lee K. Boothby sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $34.57, for a total value of $311,130.00. Following the completion of the sale, the insider now owns 335,047 shares of the company’s stock, valued at $11,582,574.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Newfield Exploration by 2,798.4% in the first quarter. BlackRock Inc. now owns 13,788,511 shares of the energy company’s stock valued at $508,934,000 after buying an additional 13,312,785 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of 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 valued at $998,913,000 after buying an additional 6,422,891 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Newfield Exploration by 45.5% in the first quarter. Prudential Financial Inc. now owns 3,825,967 shares of the energy company’s stock valued at $141,216,000 after buying an additional 1,197,112 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Newfield Exploration by 5.2% in the first quarter. Vanguard Group Inc. now owns 22,916,735 shares of the energy company’s stock valued at $845,856,000 after buying an additional 1,131,263 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Newfield Exploration by 10.3% in the first quarter. State Street Corp now owns 11,470,973 shares of the energy company’s stock valued at $423,392,000 after buying an additional 1,066,743 shares during the last quarter. 99.07% of the stock is owned by hedge funds and other institutional investors.
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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