Newfield Exploration Company (NYSE:NFX) received a $34.00 target price from analysts at BMO Capital Markets in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the energy company’s stock. BMO Capital Markets’ price objective points to a potential upside of 12.47% from the stock’s current price.
A number of other research firms have also recently weighed in on NFX. Barclays PLC restated an “equal weight” rating and issued a $22.00 price target (down from $23.00) on shares of Newfield Exploration in a report on Wednesday, August 9th. Williams Capital set a $45.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a report on Wednesday, August 2nd. Cowen and Company set a $35.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Newfield Exploration from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $46.00 price target on shares of Newfield Exploration in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. Newfield Exploration has a consensus rating of “Buy” and an average price target of $41.23.
Newfield Exploration (NYSE:NFX) opened at 30.23 on Tuesday. The firm has a 50-day moving average of $27.73 and a 200 day moving average of $30.13. Newfield Exploration has a one year low of $24.41 and a one year high of $50.00. The stock has a market capitalization of $5.97 billion, a PE ratio of 19.60 and a beta of 1.53.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The firm had revenue of $402.00 million during the quarter, compared to the consensus estimate of $413.70 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Newfield Exploration will post $1.89 earnings per share for the current fiscal year.
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In other news, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.10, for a total transaction of $349,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger B. Plank bought 3,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $25.98 per share, with a total value of $77,940.00. Following the completion of the acquisition, the director now owns 30,787 shares in the company, valued at $799,846.26. The disclosure for this purchase can be found here. Company insiders own 0.54% of the company’s stock.
Large investors have recently bought and sold shares of the company. Global X Management Co. LLC increased its holdings in shares of Newfield Exploration by 30.5% during the 1st quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock valued at $122,000 after purchasing an additional 774 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Newfield Exploration by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock valued at $138,000 after purchasing an additional 121 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Newfield Exploration during the 2nd quarter valued at approximately $131,000. Ameritas Investment Partners Inc. purchased a new position in shares of Newfield Exploration during the 1st quarter valued at approximately $175,000. Finally, Stephens Inc. AR increased its holdings in shares of Newfield Exploration by 16.9% during the 1st quarter. Stephens Inc. AR now owns 6,901 shares of the energy company’s stock valued at $255,000 after purchasing an additional 997 shares in the last quarter. 99.15% of the stock is owned by hedge funds and other 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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