Analysts predict that Newfield Exploration Co. (NYSE:NFX) will report earnings of $0.82 per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Newfield Exploration’s earnings. The lowest EPS estimate is $0.65 and the highest is $0.98. Newfield Exploration posted earnings per share of $0.52 in the same quarter last year, which suggests a positive year-over-year growth rate of 57.7%. The business is expected to issue its next earnings results on Tuesday, October 30th.
On average, analysts expect that Newfield Exploration will report full-year earnings of $3.46 per share for the current year, with EPS estimates ranging from $3.10 to $3.82. For the next financial year, analysts forecast that the business will report earnings of $4.16 per share, with EPS estimates ranging from $3.15 to $5.44. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Newfield Exploration.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings data on Tuesday, July 31st. The energy company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.12. The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $619.07 million. Newfield Exploration had a return on equity of 41.07% and a net margin of 17.53%. The firm’s revenue for the quarter was up 68.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share.
Several equities analysts have recently commented on the company. Seaport Global Securities reaffirmed a “buy” rating on shares of Newfield Exploration in a research note on Wednesday, July 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $37.00 price target on shares of Newfield Exploration in a research note on Wednesday, July 18th. Zacks Investment Research raised Newfield Exploration from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, July 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $36.00 price target on shares of Newfield Exploration in a research note on Friday, July 13th. Finally, Morgan Stanley assumed coverage on Newfield Exploration in a research note on Thursday, July 12th. They issued an “equal weight” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.55.
In related news, insider Lee K. Boothby sold 16,161 shares of the business’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $29.25, for a total value of $472,709.25. Following the sale, the insider now owns 194,420 shares in the company, valued at approximately $5,686,785. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Newfield Exploration by 14.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,152,129 shares of the energy company’s stock valued at $34,852,000 after buying an additional 149,303 shares during the period. BP PLC purchased a new stake in Newfield Exploration during the 2nd quarter worth about $787,000. Aperio Group LLC increased its holdings in Newfield Exploration by 26.4% during the 2nd quarter. Aperio Group LLC now owns 96,065 shares of the energy company’s stock worth $2,906,000 after purchasing an additional 20,044 shares during the period. Canada Pension Plan Investment Board increased its holdings in Newfield Exploration by 19.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 235,200 shares of the energy company’s stock worth $7,115,000 after purchasing an additional 38,700 shares during the period. Finally, Korea Investment CORP increased its holdings in Newfield Exploration by 41.7% during the 2nd quarter. Korea Investment CORP now owns 24,472 shares of the energy company’s stock worth $740,000 after purchasing an additional 7,200 shares during the period. Hedge funds and other institutional investors own 99.29% of the company’s stock.
NYSE NFX opened at $28.12 on Friday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 0.67 and a beta of 1.38. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 1.48. Newfield Exploration has a fifty-two week low of $22.72 and a fifty-two week high of $35.20.
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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