Q3 2017 EPS Estimates for Newfield Exploration Company (NFX) Raised by KeyCorp
Newfield Exploration Company (NYSE:NFX) – Equities research analysts at KeyCorp lifted their Q3 2017 earnings estimates for shares of Newfield Exploration in a research report issued to clients and investors on Wednesday. KeyCorp analyst D. Deckelbaum now forecasts that the energy company will earn $0.44 per share for the quarter, up from their previous forecast of $0.43. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Newfield Exploration’s Q1 2018 earnings at $0.35 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.45 EPS and Q4 2018 earnings at $0.55 EPS.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 $402.00 million for the quarter, compared to the consensus estimate of $413.70 million. During the same quarter last year, the business earned $0.32 earnings per share. Newfield Exploration’s revenue was up 5.5% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: This piece was first published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://theolympiareport.com/2017/10/20/q3-2017-eps-estimates-for-newfield-exploration-company-nfx-raised-by-keycorp.html.
NFX has been the subject of a number of other research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $46.00 price target on shares of Newfield Exploration in a research report on Thursday, July 6th. Barclays PLC upped their price target on Newfield Exploration from $22.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 11th. Morgan Stanley upped their price target on Newfield Exploration from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday. Zacks Investment Research lowered Newfield Exploration from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Citigroup Inc. lowered their price target on Newfield Exploration from $50.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. Newfield Exploration currently has an average rating of “Buy” and a consensus target price of $39.72.
Shares of Newfield Exploration (NYSE NFX) opened at 29.27 on Friday. The firm has a 50-day moving average price of $28.50 and a 200-day moving average price of $29.90. Newfield Exploration has a one year low of $24.41 and a one year high of $50.00. The company has a market capitalization of $5.78 billion, a P/E ratio of 18.98 and a beta of 1.53.
A number of institutional investors have recently made changes to their positions in NFX. PNC Financial Services Group Inc. raised its holdings in Newfield Exploration by 29.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,980 shares of the energy company’s stock worth $590,000 after purchasing an additional 3,602 shares during the period. Thrivent Financial For Lutherans raised its holdings in Newfield Exploration by 5.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 7,300 shares of the energy company’s stock worth $269,000 after purchasing an additional 380 shares during the period. Global X Management Co. LLC raised its holdings in Newfield Exploration by 30.5% in the 1st quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock worth $122,000 after purchasing an additional 774 shares during the period. UBS Group AG raised its holdings in Newfield Exploration by 11.1% in the 1st quarter. UBS Group AG now owns 88,937 shares of the energy company’s stock worth $3,283,000 after purchasing an additional 8,876 shares during the period. Finally, Morgan Stanley raised its holdings in Newfield Exploration by 76.5% in the 1st quarter. Morgan Stanley now owns 681,692 shares of the energy company’s stock worth $25,161,000 after purchasing an additional 295,510 shares during the period. 99.15% of the stock is currently owned by institutional investors.
In related news, insider Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $29.10, for a total value of $349,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roger B. Plank bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the completion of the acquisition, the director now owns 30,787 shares in the company, valued at approximately $799,846.26. The disclosure for this purchase can be found here. Company insiders own 0.54% 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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