Newfield Exploration Co. (NYSE:NFX)‘s stock had its “buy” rating reiterated by investment analysts at Stifel Nicolaus in a research report issued on Wednesday. They presently have a $48.00 target price on the energy company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 35.63% from the company’s current price.
A number of other brokerages also recently issued reports on NFX. Canaccord Genuity set a $50.00 price objective on Newfield Exploration and gave the company a “buy” rating in a research note on Saturday, February 11th. BMO Capital Markets decreased their target price on Newfield Exploration from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, February 27th. Jefferies Group LLC raised Newfield Exploration from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Tuesday, January 17th. Zacks Investment Research raised Newfield Exploration from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Thursday, January 5th. Finally, Bank of America Corp lowered Newfield Exploration from a “buy” rating to a “neutral” rating in a report on Wednesday, January 4th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $50.12.
Newfield Exploration (NYSE:NFX) traded down 2.24% on Wednesday, hitting $35.39. The company had a trading volume of 2,433,158 shares. The stock’s 50-day moving average price is $35.66 and its 200 day moving average price is $40.48. The company’s market capitalization is $6.99 billion. Newfield Exploration has a one year low of $33.00 and a one year high of $50.00.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, February 21st. The energy company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.12. The firm had revenue of $415 million for the quarter, compared to the consensus estimate of $397.74 million. Newfield Exploration had a positive return on equity of 12.41% and a negative net margin of 134.32%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($4.06) EPS. On average, analysts expect that Newfield Exploration will post $2.05 EPS for the current fiscal year.
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In other news, insider Lee K. Boothby sold 9,000 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $36.88, for a total value of $331,920.00. Following the sale, the insider now directly owns 263,817 shares in the company, valued at approximately $9,729,570.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Kent Wells bought 3,000 shares of Newfield Exploration stock in a transaction dated Monday, February 27th. The stock was acquired at an average price of $36.94 per share, for a total transaction of $110,820.00. Following the completion of the acquisition, the director now owns 11,563 shares in the company, valued at $427,137.22. The disclosure for this purchase can be found here. Insiders own 0.44% of the company’s stock.
Several hedge funds have recently bought and sold shares of NFX. Massey Quick & Co. LLC purchased a new position in shares of Newfield Exploration during the fourth quarter valued at approximately $122,000. Virtus Investment Advisers Inc. purchased a new position in shares of Newfield Exploration during the third quarter valued at approximately $124,000. Dreman Value Management L L C purchased a new position in shares of Newfield Exploration during the third quarter valued at approximately $153,000. Victory Capital Management Inc. increased its position in shares of Newfield Exploration by 51.0% in the third quarter. Victory Capital Management Inc. now owns 3,791 shares of the energy company’s stock valued at $165,000 after buying an additional 1,281 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Newfield Exploration during the third quarter worth approximately $204,000. Hedge funds and other institutional investors own 96.67% of the company’s stock.
Newfield Exploration Company Profile
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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