Brokers Set Expectations for Newfield Exploration Co.’s Q2 2018 Earnings (NFX)

Newfield Exploration Co. (NYSE:NFX) – Equities research analysts at Piper Jaffray Companies lifted their Q2 2018 earnings estimates for Newfield Exploration in a research note issued on Sunday, May 20th. Piper Jaffray Companies analyst D. Kistler now expects that the energy company will earn $0.84 per share for the quarter, up from their previous estimate of $0.77. Piper Jaffray Companies also issued estimates for Newfield Exploration’s Q3 2018 earnings at $0.88 EPS, Q4 2018 earnings at $0.98 EPS, FY2018 earnings at $3.53 EPS, Q1 2019 earnings at $1.09 EPS, Q2 2019 earnings at $1.07 EPS, Q3 2019 earnings at $1.15 EPS, Q4 2019 earnings at $1.30 EPS and FY2019 earnings at $4.60 EPS.

Newfield Exploration (NYSE:NFX) last announced its quarterly earnings data on Tuesday, May 1st. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The firm had revenue of $580.00 million during the quarter, compared to the consensus estimate of $552.56 million. Newfield Exploration had a return on equity of 36.67% and a net margin of 18.96%. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS.

NFX has been the topic of a number of other research reports. Stifel Nicolaus set a $43.00 price target on Newfield Exploration and gave the company a “buy” rating in a research report on Monday, April 23rd. B. Riley assumed coverage on Newfield Exploration in a research report on Monday, February 5th. They set a “buy” rating and a $46.00 price target on the stock. Deutsche Bank assumed coverage on Newfield Exploration in a research report on Wednesday, April 4th. They set a “hold” rating and a $32.00 price target on the stock. ValuEngine cut Newfield Exploration from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $29.00 price target (down previously from $36.00) on shares of Newfield Exploration in a research report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $36.74.

Shares of Newfield Exploration opened at $29.72 on Wednesday, Marketbeat Ratings reports. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.77 and a beta of 1.51. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. Newfield Exploration has a 1 year low of $22.72 and a 1 year high of $35.20.

In related news, Director Thomas G. Ricks acquired 8,250 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The shares were acquired at an average price of $23.78 per share, with a total value of $196,185.00. Following the acquisition, the director now owns 66,447 shares of the company’s stock, valued at approximately $1,580,109.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger B. Plank acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 28th. The shares were bought at an average cost of $23.38 per share, for a total transaction of $46,760.00. Following the acquisition, the director now directly owns 32,787 shares in the company, valued at approximately $766,560.06. The disclosure for this purchase can be found here. Corporate insiders own 0.59% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rampart Investment Management Company LLC raised its holdings in shares of Newfield Exploration by 84.7% in the 1st quarter. Rampart Investment Management Company LLC now owns 4,513 shares of the energy company’s stock valued at $110,000 after acquiring an additional 2,070 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Newfield Exploration by 14,896.2% in the 4th quarter. Assetmark Inc. now owns 3,899 shares of the energy company’s stock valued at $123,000 after acquiring an additional 3,873 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of Newfield Exploration by 495.7% in the 1st quarter. Penserra Capital Management LLC now owns 5,016 shares of the energy company’s stock valued at $130,000 after acquiring an additional 4,174 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in shares of Newfield Exploration in the 1st quarter valued at about $200,000. Finally, ETRADE Capital Management LLC purchased a new stake in shares of Newfield Exploration in the 4th quarter valued at about $211,000. 99.36% of the stock is currently owned by institutional investors and hedge funds.

Newfield Exploration Company Profile

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.

Earnings History and Estimates for Newfield Exploration (NYSE:NFX)

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