Newfield Exploration Co. (NYSE:NFX) – Analysts at SunTrust Banks lifted their FY2018 earnings per share estimates for shares of Newfield Exploration in a research report issued on Wednesday. SunTrust Banks analyst N. Dingmann now anticipates that the energy company will post earnings per share of $2.59 for the year, up from their previous forecast of $2.39. SunTrust Banks also issued estimates for Newfield Exploration’s FY2019 earnings at $3.29 EPS.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.12. The company had revenue of $417 million for the quarter, compared to analysts’ expectations of $425.44 million. Newfield Exploration had a negative net margin of 134.32% and a positive return on equity of 12.41%.
Other equities analysts also recently issued research reports about the stock. Canaccord Genuity set a $50.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Saturday, February 11th. Barclays PLC reissued a “hold” rating and issued a $34.00 price objective on shares of Newfield Exploration in a report on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price objective on shares of Newfield Exploration in a report on Wednesday, April 12th. Royal Bank of Canada reissued a “buy” rating and issued a $54.00 price objective on shares of Newfield Exploration in a report on Tuesday, April 25th. Finally, Williams Capital reissued a “buy” rating and issued a $56.00 price objective on shares of Newfield Exploration in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $50.05.
Shares of Newfield Exploration (NYSE:NFX) traded up 2.79% during mid-day trading on Friday, hitting $34.59. 3,445,004 shares of the company were exchanged. Newfield Exploration has a 52 week low of $33.00 and a 52 week high of $50.00. The company’s market capitalization is $6.83 billion. The company has a 50 day moving average of $35.32 and a 200 day moving average of $39.65.
Institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP increased its position in Newfield Exploration by 371.7% in the third quarter. First Trust Advisors LP now owns 980,238 shares of the energy company’s stock valued at $42,601,000 after buying an additional 772,418 shares during the period. Essex Investment Management Co. LLC boosted its stake in shares of Newfield Exploration by 433.9% in the third quarter. Essex Investment Management Co. LLC now owns 64,354 shares of the energy company’s stock valued at $2,797,000 after buying an additional 52,300 shares in the last quarter. Chelsea Counsel Co. boosted its stake in shares of Newfield Exploration by 1.5% in the third quarter. Chelsea Counsel Co. now owns 18,875 shares of the energy company’s stock valued at $821,000 after buying an additional 275 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Newfield Exploration during the third quarter valued at $1,632,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of Newfield Exploration during the third quarter valued at $204,000. 96.67% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Lee K. Boothby sold 9,000 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $36.88, for a total value of $331,920.00. Following the transaction, the insider now owns 263,817 shares of the company’s stock, valued at $9,729,570.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Kent Wells bought 3,000 shares of the stock in a transaction dated Monday, February 27th. The stock was bought at an average cost of $36.94 per share, for a total transaction of $110,820.00. Following the acquisition, the director now directly owns 11,563 shares of the company’s stock, valued at approximately $427,137.22. The disclosure for this purchase can be found here. 0.44% of the stock is currently owned by insiders.
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.