Newfield Exploration Co. (NFX) Releases Earnings Results, Beats Expectations By $0.03 EPS

Newfield Exploration Co. (NFX) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $-0.09 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.12. The company posted revenue of $284.00 million in the period, compared to analysts expectations of $322.04 million. The company’s revenue was down -18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on Newfield Exploration Co.. Wunderlich Initiated Newfield Exploration Co. on Apr 27, 2016 to “Buy”, Price Target of the shares are set at $42.Topeka Capital Markets Initiated Newfield Exploration Co. on Mar 23, 2016 to “Buy”, Price Target of the shares are set at $42.Company shares were Reiterated by Stifel on Mar 22, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .

Newfield Exploration Co. opened for trading at $36.43 and hit $37.37 on the upside on Monday, eventually ending the session at $37.17, with a gain of 2.54% or 0.92 points. The heightened volatility saw the trading volume jump to 41,08,835 shares. Company has a market cap of $6,082 M.

In a different news, on Nov 19, 2015, George T Dunn (Sr VP – Development) sold 20,000 shares at $41.01 per share price. According to the SEC, on Nov 13, 2015, Valerie A Mitchell (VP-Mid-Continent) sold 10,713 shares at $38.50 per share price. On Nov 12, 2015, Gary D Packer (EVP and COO) sold 40,000 shares at $39.69 per share price, according to the Form-4 filing with the securities and exchange commission.

Newfield Exploration Company (Newfield) is an independent energy company engaged in the exploration development and production of crude oil natural gas and natural gas liquids. The Company’s principal areas of operation are oil and liquids-rich resource plays in the Mid-Continent Rocky Mountains and onshore Gulf Coast regions of the United States. The Company operates through two segments: the United States and China. Approximately 46% of the Company’s proved reserves are located in Mid-Continent region. The Company’s assets consist of more than 400000 net acres in the Anadarko and Arkoma basins. Approximately 43% of its proved reserves are located in the Rocky Mountains region. The Company has approximately 92000 net acres in the Williston Basin. The Company has approximately 225000 net acres in the Uinta Basin. About 7% of the Company’s proved reserves are located in the onshore Gulf Coast region. Approximately 4% of the Company’s proved reserves are located in China.

Newfield Exploration Co.

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