BidaskClub Lowers Newfield Exploration Company (NFX) to Strong Sell

Newfield Exploration Company (NYSE:NFX) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Friday.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised Newfield Exploration from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $36.00 target price (down from $40.00) on shares of Newfield Exploration in a research report on Wednesday, August 9th. Barclays PLC reaffirmed an “equal weight” rating and issued a $22.00 target price (down from $23.00) on shares of Newfield Exploration in a research report on Wednesday, August 9th. BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 target price on shares of Newfield Exploration in a research report on Friday, August 4th. Finally, Williams Capital set a $45.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.21.

Newfield Exploration (NYSE NFX) traded up 1.72% during trading on Friday, reaching $25.40. 1,494,522 shares of the company were exchanged. The stock has a market capitalization of $5.02 billion, a PE ratio of 16.47 and a beta of 1.48. The firm’s 50 day moving average is $26.99 and its 200 day moving average is $32.97. Newfield Exploration has a 52-week low of $24.91 and a 52-week high of $50.00.

Newfield Exploration (NYSE:NFX) last issued its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The company had revenue of $402 million during the quarter, compared to analyst estimates of $413.70 million. During the same period in the prior year, the business earned $0.32 earnings per share. Newfield Exploration’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts expect that Newfield Exploration will post $1.92 EPS for the current year.

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In other news, Director Roger B. Plank bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the purchase, the director now directly owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its stake in shares of Newfield Exploration by 29.4% in the first quarter. Janney Montgomery Scott LLC now owns 26,958 shares of the energy company’s stock valued at $995,000 after buying an additional 6,132 shares in the last quarter. Cubic Asset Management LLC increased its stake in shares of Newfield Exploration by 0.6% in the first quarter. Cubic Asset Management LLC now owns 8,880 shares of the energy company’s stock valued at $328,000 after buying an additional 50 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of Newfield Exploration by 29.6% in the first quarter. Glen Harbor Capital Management LLC now owns 17,578 shares of the energy company’s stock valued at $649,000 after buying an additional 4,012 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Newfield Exploration by 14.5% in the first quarter. Independent Portfolio Consultants Inc. now owns 43,941 shares of the energy company’s stock valued at $1,622,000 after buying an additional 5,565 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management increased its stake in shares of Newfield Exploration by 4.0% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 23,325 shares of the energy company’s stock valued at $861,000 after buying an additional 892 shares in the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.

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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