Jefferies Group LLC reaffirmed their buy rating on shares of Newfield Exploration Company (NYSE:NFX) in a research report released on Thursday morning. They currently have a $39.00 price objective on the energy company’s stock. Jefferies Group also issued estimates for Newfield Exploration’s Q4 2017 earnings at $0.39 EPS, FY2017 earnings at $1.67 EPS, Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $0.43 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.58 EPS, FY2018 earnings at $1.97 EPS, Q1 2019 earnings at $0.59 EPS, Q2 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.65 EPS and FY2019 earnings at $2.56 EPS.
Several other equities research analysts also recently issued reports on the company. Barclays PLC lifted their price objective on Newfield Exploration from $22.00 to $25.00 and gave the stock an equal weight rating in a report on Wednesday. BMO Capital Markets set a $34.00 price objective on Newfield Exploration and gave the stock a buy rating in a report on Tuesday. Stifel Nicolaus set a $37.00 price objective on Newfield Exploration and gave the stock a buy rating in a report on Thursday, October 5th. Piper Jaffray Companies dropped their price objective on Newfield Exploration from $53.00 to $41.00 and set an overweight rating on the stock in a report on Monday, September 18th. Finally, Royal Bank Of Canada set a $42.00 price objective on Newfield Exploration and gave the stock a buy rating in a report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. Newfield Exploration has a consensus rating of Buy and a consensus price target of $41.14.
Shares of Newfield Exploration (NYSE NFX) traded down 0.44% during trading on Thursday, hitting $29.65. The stock had a trading volume of 2,606,542 shares. Newfield Exploration has a one year low of $24.41 and a one year high of $50.00. The company has a market cap of $5.86 billion, a P/E ratio of 19.23 and a beta of 1.53. The stock’s 50-day moving average price is $27.87 and its 200-day moving average price is $30.12.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $402.00 million for the quarter, compared to analysts’ expectations of $413.70 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Newfield Exploration’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts forecast that Newfield Exploration will post $1.90 EPS for the current fiscal year.
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In other news, Director Roger B. Plank acquired 3,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $25.98 per share, with a total value of $77,940.00. Following the purchase, the director now owns 30,787 shares of the company’s stock, valued at $799,846.26. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the business’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 disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Newfield Exploration by 3.5% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock worth $1,208,000 after buying an additional 1,100 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Newfield Exploration by 67.3% in the 2nd quarter. Schroder Investment Management Group now owns 1,236,114 shares of the energy company’s stock worth $35,353,000 after buying an additional 497,431 shares in the last quarter. Atlantic Trust Group LLC raised its stake in shares of Newfield Exploration by 22.8% in the 2nd quarter. Atlantic Trust Group LLC now owns 253,908 shares of the energy company’s stock worth $7,226,000 after buying an additional 47,194 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Newfield Exploration by 21.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,229 shares of the energy company’s stock worth $1,458,000 after buying an additional 8,972 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Newfield Exploration by 106.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,732 shares of the energy company’s stock worth $4,119,000 after buying an additional 74,768 shares in the last quarter. 99.15% of the stock is currently owned by 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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