Newfield Exploration Co. (NYSE:NFX) – Stock analysts at SunTrust Banks raised their Q3 2018 earnings estimates for shares of Newfield Exploration in a research note issued to investors on Monday, October 29th. SunTrust Banks analyst N. Dingmann now expects that the energy company will earn $0.82 per share for the quarter, up from their prior forecast of $0.74. SunTrust Banks currently has a “Hold” rating and a $23.00 target price on the stock. SunTrust Banks also issued estimates for Newfield Exploration’s Q4 2018 earnings at $0.91 EPS and FY2020 earnings at $5.25 EPS.
Other research analysts have also recently issued reports about the stock. BMO Capital Markets restated a “hold” rating and issued a $33.00 price target on shares of Newfield Exploration in a report on Thursday, July 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Newfield Exploration in a research note on Wednesday, July 18th. Zacks Investment Research lowered shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Morgan Stanley upped their price objective on shares of Newfield Exploration from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Newfield Exploration in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. Newfield Exploration currently has a consensus rating of “Hold” and an average target price of $36.40.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Wednesday, October 31st. The energy company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.15. The firm had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $661.27 million. Newfield Exploration had a net margin of 17.53% and a return on equity of 41.07%. The business’s revenue for the quarter was up 62.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share.
Several hedge funds have recently added to or reduced their stakes in NFX. NumerixS Investment Technologies Inc purchased a new stake in shares of Newfield Exploration during the second quarter valued at about $142,000. Amica Pension Fund Board of Trustees purchased a new stake in shares of Newfield Exploration during the second quarter valued at about $178,000. Amica Mutual Insurance Co. purchased a new stake in shares of Newfield Exploration during the second quarter valued at about $198,000. Signition LP purchased a new stake in shares of Newfield Exploration during the second quarter valued at about $201,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Newfield Exploration during the second quarter valued at about $218,000. 99.29% of the stock is owned by institutional investors and hedge funds.
In other Newfield Exploration news, insider Lee K. Boothby sold 16,161 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $29.25, for a total transaction of $472,709.25. Following the completion of the sale, the insider now directly owns 194,420 shares of the company’s stock, valued at $5,686,785. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.59% of the company’s stock.
About Newfield Exploration
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.
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