Wall Street analysts expect that Newfield Exploration Co. (NYSE:NFX) will report sales of $547.60 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Newfield Exploration’s earnings. The highest sales estimate is $611.10 million and the lowest is $515.49 million. Newfield Exploration posted sales of $417.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 31.3%. The firm is expected to issue its next earnings results on Tuesday, May 1st.
On average, analysts expect that Newfield Exploration will report full year sales of $547.60 million for the current fiscal year, with estimates ranging from $2.16 billion to $2.47 billion. For the next fiscal year, analysts expect that the business will report sales of $2.61 billion per share, with estimates ranging from $2.31 billion to $2.86 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Newfield Exploration.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, February 20th. The energy company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.11. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. The company had revenue of $509.00 million for the quarter, compared to the consensus estimate of $497.95 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was up 22.7% on a year-over-year basis.
Newfield Exploration stock traded up $1.40 during trading hours on Friday, reaching $24.80. The company’s stock had a trading volume of 6,133,832 shares, compared to its average volume of 3,912,708. Newfield Exploration has a 12 month low of $22.72 and a 12 month high of $37.61. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.89. The stock has a market capitalization of $4,625.57, a P/E ratio of 11.64, a P/E/G ratio of 0.58 and a beta of 1.57.
In related news, CEO Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $31.84, for a total transaction of $382,080.00. Following the completion of the transaction, the chief executive officer now directly owns 223,235 shares of the company’s stock, valued at approximately $7,107,802.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas G. Ricks bought 8,250 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were bought at an average cost of $23.78 per share, with a total value of $196,185.00. Following the completion of the purchase, the director now directly owns 66,447 shares in the company, valued at $1,580,109.66. The disclosure for this purchase can be found here. Insiders own 0.54% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in Newfield Exploration by 0.4% during the 4th quarter. Swiss National Bank now owns 734,900 shares of the energy company’s stock worth $23,171,000 after purchasing an additional 2,700 shares in the last quarter. Creative Planning acquired a new position in shares of Newfield Exploration during the 4th quarter worth about $1,394,000. US Bancorp DE boosted its position in shares of Newfield Exploration by 47.0% during the 4th quarter. US Bancorp DE now owns 46,199 shares of the energy company’s stock worth $1,457,000 after acquiring an additional 14,773 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Newfield Exploration by 52.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 12,588 shares of the energy company’s stock worth $373,000 after acquiring an additional 4,345 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of Newfield Exploration during the 4th quarter worth about $2,627,000. 99.82% 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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