Capital One Financial Equities Analysts Reduce Earnings Estimates for Newfield Exploration Co. (NFX)

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Newfield Exploration Co. (NYSE:NFX) – Equities research analysts at Capital One Financial dropped their FY2018 earnings per share estimates for shares of Newfield Exploration in a research note issued on Tuesday, January 8th. Capital One Financial analyst R. Tullis now forecasts that the energy company will post earnings of $3.38 per share for the year, down from their previous forecast of $3.41. Capital One Financial has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for Newfield Exploration’s Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.41 EPS, Q3 2019 earnings at $0.41 EPS, Q4 2019 earnings at $0.41 EPS, FY2019 earnings at $1.70 EPS and FY2020 earnings at $1.89 EPS.

Several other equities analysts also recently issued reports on NFX. Morgan Stanley lifted their price objective on Newfield Exploration from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Wednesday, September 26th. Piper Jaffray Companies initiated coverage on Newfield Exploration in a research report on Friday, September 28th. They issued an “overweight” rating for the company. ValuEngine downgraded Newfield Exploration from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded Newfield Exploration from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, October 18th. Finally, SunTrust Banks cut their price objective on Newfield Exploration from $30.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, October 29th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $31.94.

Shares of NFX opened at $17.33 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 1.30. Newfield Exploration has a 52-week low of $12.45 and a 52-week high of $35.15. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 0.32 and a beta of 1.65.

Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Wednesday, October 31st. The energy company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.15. Newfield Exploration had a return on equity of 43.65% and a net margin of 21.14%. The firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $661.27 million. During the same quarter in the previous year, the company posted $0.52 EPS. The business’s revenue for the quarter was up 62.0% compared to the same quarter last year.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Newfield Exploration by 2.1% during the third quarter. Vanguard Group Inc. now owns 22,202,400 shares of the energy company’s stock worth $640,096,000 after acquiring an additional 458,863 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Newfield Exploration by 2.1% during the third quarter. Vanguard Group Inc now owns 22,202,400 shares of the energy company’s stock worth $640,096,000 after purchasing an additional 458,863 shares during the period. LSV Asset Management grew its stake in shares of Newfield Exploration by 10.0% during the third quarter. LSV Asset Management now owns 6,123,641 shares of the energy company’s stock worth $176,544,000 after purchasing an additional 554,266 shares during the period. Schroder Investment Management Group grew its stake in shares of Newfield Exploration by 20.5% during the second quarter. Schroder Investment Management Group now owns 2,601,454 shares of the energy company’s stock worth $78,824,000 after purchasing an additional 442,324 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Newfield Exploration by 10.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,508,298 shares of the energy company’s stock worth $72,318,000 after purchasing an additional 232,555 shares during the period. Institutional investors own 97.64% of the company’s stock.

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.

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

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