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To: Dennis Roth who wrote (158695)10/21/2011 6:45:35 AM
From: Dennis Roth  Respond to of 206325
 
Newfield Exploration Co. (NFX)
Q3’11 Wrap-Up; Slowing the Pace in Face of Rising OFS Costs
Company Update
Target Price Change
Estimate Change
21 October 2011 ¦ 19 pages
citigroupgeo.com

Adjusting Estimates; Lowering Price Target – Based on the revised guidance and other fine
tuning, we are lowering EPS/CFPS estimates for 2011 to $4.17/$10.58 from $ 4.76/$11.37, for
2012 to $5.08/$12.44 from $6.21/$14.38, and for 2013 to $5.46/$13.32 from $7.15/$16.44. We
are reducing our 12-month price target to $48 from $58/share while maintaining a Buy rating.