Free Post Earnings Research Report: Newfield Exploration’s Q4 Results Outpaced Forecasts
Stock Monitor: Baytex Energy Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 03, 2018 / Active-Investors.com has just released a free earnings report on Newfield Exploration Co. (NYSE: NFX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NFX. The Company posted its financial results on February 20, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full year fiscal 2017 (FY17). The Company's quarterly oil, gas, and natural gas liquids (NGL) revenues and adjusted diluted earnings per share (EPS) beat Wall Street's estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Newfield Exploration most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=NFX
Earnings Highlights and Summary
During Q4 FY17, Newfield Exploration's oil, gas, and NGL revenues came in at $509 million, and were higher than the $415 million recorded at the end of Q4 FY16. The Company's revenues for the reported quarter also came in above the market consensus estimates of $501 million.
The independent oil and gas Company reported a net income of $95 million, or $0.47 per diluted share, in Q4 FY17 compared to $13 million, or $0.07 per diluted share, in Q4 FY16. Excluding one-time costs and gains, the Company posted an adjusted net income of $143 million, or $0.71 per diluted share, in Q4 FY17; which came in above market analysts' forecasts of $0.60 per diluted share.
For the full year FY17, Newfield Exploration's oil, gas, and NGL revenues stood at $1.77 billion compared to $1.47 billion in FY16. The Company's net income was $427 billion, or $2.13 per diluted share, during FY17 versus a net loss of $1.23 billion, or $6.36 loss per diluted share, in FY16. Furthermore, the Company reported an adjusted net income of $432 million, or $2.15 per diluted share, in FY17.
Operating Metrics
The Woodlands, Texas-based Company's total operating expenses increased to $326 million during Q4 FY17 from $303 million in the past year's same quarter. The Company's income from operations increased to $183 million in Q4 FY17 from $112 million in Q4 FY16. Furthermore, the Company's income before taxes stood at $57 million in Q4 FY17 compared to $24 million in Q4 FY16.
During Q4 FY17, Newfield Exploration's oil production volume was 6,175 barrels (MBbl) and the average realized prices were $49.60 per Bbl during the period. The quarterly production volume of natural gas totaled 36.6 billion cubic feet (Bcf) in Q4 FY17, on an average realized price of $2.58 per MCF. The NGL production volume was 3,338 MMBbl during Q4 FY17, with an average realized price of $30.15 per Bbl. Furthermore, the Company's total production was 15,622 barrels of oil equivalent (MBOE) during the reported quarter, while average crude oil equivalent realized price was $32.29 per BOE.
Cash Matters and Balance Sheet
In the full fiscal year ended December 31, 2017, Newfield Exploration generated net cash provided by operating activities of $952 million compared to $826 million in the prior year. Moreover, the Company's discretionary cash flow stood at $1.06 billion during the full year FY17.
The Company's cash and cash equivalents balance fell to $326 million as on December 31, 2017, from $555 million at the close of books on December 31, 2016. Furthermore, the Company's total long-term loans remained flat at $2.43 billion as on December 31, 2017.
Stock Performance Snapshot
April 02, 2018 - At Monday's closing bell, Newfield Exploration's stock fell 3.44%, ending the trading session at $23.58.
Volume traded for the day: 4.10 million shares, which was above the 3-month average volume of 4.00 million shares.
Stock performance in the last month – up 0.99%
After yesterday's close, Newfield Exploration's market cap was at $4.69 billion.
Price to Earnings (P/E) ratio was at 12.25.
The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry.
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