BidaskClub upgraded shares of Newfield Exploration Company (NYSE:NFX) from a strong sell rating to a sell rating in a research note published on Monday, July 31st.
Other research analysts have also recently issued reports about the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $48.00 target price on shares of Newfield Exploration in a report on Wednesday, April 12th. KLR Group raised shares of Newfield Exploration from a hold rating to a buy rating in a report on Monday, May 15th. Scotiabank set a $47.00 price objective on shares of Newfield Exploration and gave the company a buy rating in a report on Tuesday, May 16th. Jefferies Group LLC reissued a buy rating and set a $46.00 price objective on shares of Newfield Exploration in a report on Wednesday, May 17th. Finally, Piper Jaffray Companies began coverage on shares of Newfield Exploration in a report on Monday, May 15th. They set a buy rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $43.21.
Newfield Exploration (NYSE:NFX) traded down 1.29% during mid-day trading on Monday, hitting $25.92. The company’s stock had a trading volume of 2,854,991 shares. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 16.81 and a beta of 1.48. Newfield Exploration has a 52-week low of $25.46 and a 52-week high of $50.00. The firm has a 50 day moving average of $27.28 and a 200-day moving average of $33.56.
Newfield Exploration (NYSE:NFX) last issued its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.01. The firm had revenue of $402 million during the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. On average, equities research analysts expect that Newfield Exploration will post $1.91 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Newfield Exploration by 2,798.4% in the first quarter. BlackRock Inc. now owns 13,788,511 shares of the energy company’s stock valued at $508,934,000 after buying an additional 13,312,785 shares in the last quarter. Wellington Management Group LLP increased its position in Newfield Exploration by 31.1% in the first quarter. Wellington Management Group LLP now owns 27,063,455 shares of the energy company’s stock valued at $998,913,000 after buying an additional 6,422,891 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Newfield Exploration during the second quarter valued at about $42,542,000. Prudential Financial Inc. boosted its position in shares of Newfield Exploration by 45.5% in the first quarter. Prudential Financial Inc. now owns 3,825,967 shares of the energy company’s stock valued at $141,216,000 after buying an additional 1,197,112 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Newfield Exploration by 5.2% in the first quarter. Vanguard Group Inc. now owns 22,916,735 shares of the energy company’s stock valued at $845,856,000 after buying an additional 1,131,263 shares during the last quarter. 99.05% of the stock is currently owned by institutional investors.
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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