Newfield Exploration (NYSE:NFX) was upgraded by equities research analysts at Seaport Global Securities from a “sell” rating to a “neutral” rating in a research report issued on Tuesday, December 19th, Marketbeat.com reports. Seaport Global Securities also issued estimates for Newfield Exploration’s Q4 2017 earnings at $0.58 EPS, FY2017 earnings at $2.10 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.53 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $2.05 EPS.
Other research analysts also recently issued research reports about the stock. Jefferies Group set a $40.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research note on Tuesday, August 29th. SunTrust Banks set a $37.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research note on Tuesday, October 31st. KeyCorp reiterated a “hold” rating on shares of Newfield Exploration in a research note on Thursday, October 12th. Zacks Investment Research downgraded shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Barclays boosted their price objective on shares of Newfield Exploration from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Monday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $38.59.
Shares of Newfield Exploration (NYSE NFX) traded up $0.16 during trading on Tuesday, reaching $34.75. 2,050,000 shares of the company were exchanged, compared to its average volume of 2,280,000. Newfield Exploration has a one year low of $24.41 and a one year high of $43.74. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $6,940.00, a P/E ratio of 20.09, a P/E/G ratio of 1.40 and a beta of 1.45.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The company had revenue of $439.00 million during the quarter, compared to the consensus estimate of $419.75 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. analysts predict that Newfield Exploration will post 2.14 EPS for the current year.
In other news, Director Juanita F. Romans sold 3,500 shares of Newfield Exploration stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $30.02, for a total value of $105,070.00. Following the transaction, the director now directly owns 39,034 shares of the company’s stock, valued at approximately $1,171,800.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction on Tuesday, January 2nd. The shares were 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 in the company, valued at $7,107,802.40. The disclosure for this sale can be found here. Insiders sold a total of 39,500 shares of company stock worth $1,243,150 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.
Several institutional investors have recently made changes to their positions in NFX. Pacer Advisors Inc. increased its stake in Newfield Exploration by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock valued at $116,000 after buying an additional 319 shares during the period. Dupont Capital Management Corp acquired a new position in Newfield Exploration in the 2nd quarter valued at $131,000. Tiedemann Wealth Management LLC increased its stake in Newfield Exploration by 36.0% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock valued at $148,000 after buying an additional 7,664 shares during the period. Riverhead Capital Management LLC increased its stake in Newfield Exploration by 17.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock valued at $197,000 after buying an additional 1,013 shares during the period. Finally, Koch Industries Inc. acquired a new position in Newfield Exploration in the 2nd quarter valued at $209,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.
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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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