BidaskClub upgraded shares of Newfield Exploration Company (NYSE:NFX) from a strong sell rating to a sell rating in a research note issued to investors on Monday, July 31st.
A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Newfield Exploration from a hold rating to a sell rating in a research report on Tuesday, July 25th. Citigroup Inc. cut their price objective on shares of Newfield Exploration from $50.00 to $36.00 and set a buy rating for the company in a research report on Friday, July 21st. Royal Bank Of Canada reaffirmed a buy rating and set a $42.00 price objective on shares of Newfield Exploration in a research report on Thursday, July 20th. Cowen and Company set a $35.00 price objective on shares of Newfield Exploration and gave the company a buy rating in a research report on Tuesday, July 18th. Finally, Barclays PLC reaffirmed a hold rating and set a $23.00 price objective on shares of Newfield Exploration in a research report on Friday, July 7th. Two 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 presently has an average rating of Buy and a consensus price target of $42.75.
Shares of Newfield Exploration (NYSE:NFX) traded up 1.36% during mid-day trading on Monday, hitting $25.31. The stock had a trading volume of 2,837,719 shares. The firm’s 50 day moving average price is $26.89 and its 200-day moving average price is $32.87. The company has a market cap of $5.00 billion, a PE ratio of 16.41 and a beta of 1.48. Newfield Exploration has a one year low of $24.91 and a one year high of $50.00.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $402 million for the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. On average, equities research analysts anticipate that Newfield Exploration will post $1.92 earnings per share for the current fiscal year.
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In related news, Director Roger B. Plank purchased 3,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost 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 $799,846.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in NFX. Global X Management Co. LLC boosted its stake in Newfield Exploration by 30.5% in the first quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock valued at $122,000 after buying an additional 774 shares during the period. Pacer Advisors Inc. boosted its stake in Newfield Exploration by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock valued at $138,000 after buying an additional 121 shares during the period. Dupont Capital Management Corp bought a new stake in Newfield Exploration during the second quarter valued at approximately $131,000. Ameritas Investment Partners Inc. bought a new stake in Newfield Exploration during the first quarter valued at approximately $175,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Newfield Exploration by 6.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,316 shares of the energy company’s stock valued at $183,000 after buying an additional 310 shares during the period. 98.33% of the stock is currently 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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