Newfield Exploration (NFX) Given “Buy” Rating at Piper Jaffray Companies

Piper Jaffray Companies reissued their buy rating on shares of Newfield Exploration (NYSE:NFX) in a research note released on Tuesday morning. The firm currently has a $48.00 target price on the energy company’s stock.

A number of other research firms have also recently commented on NFX. Bank of America upgraded shares of Newfield Exploration from a neutral rating to a buy rating and set a $46.00 price target on the stock in a report on Thursday, January 4th. Royal Bank of Canada reiterated a buy rating and set a $39.00 price target on shares of Newfield Exploration in a report on Tuesday, November 7th. TheStreet upgraded shares of Newfield Exploration from a d+ rating to a c- rating in a report on Monday, November 6th. Zacks Investment Research cut shares of Newfield Exploration from a buy rating to a hold rating in a report on Friday, November 10th. Finally, KeyCorp restated a hold rating on shares of Newfield Exploration in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $38.59.

Newfield Exploration (NYSE NFX) traded up $0.15 during trading hours on Tuesday, hitting $34.75. 2,040,600 shares of the stock were exchanged, compared to its average volume of 2,735,211. Newfield Exploration has a 1 year low of $24.41 and a 1 year high of $43.74. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $6,910.00, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45.

Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The firm had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $419.75 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. sell-side analysts forecast that Newfield Exploration will post 2.14 EPS for the current year.

In other news, Director Juanita F. Romans sold 3,500 shares of Newfield Exploration stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $30.02, for a total transaction of $105,070.00. Following the transaction, the director now owns 39,034 shares in the company, valued at approximately $1,171,800.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $31.70, for a total transaction of $380,400.00. Following the transaction, the chief executive officer now owns 255,322 shares in the company, valued at approximately $8,093,707.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock worth $1,243,150 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of Newfield Exploration by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock worth $116,000 after acquiring an additional 319 shares during the last quarter. Tiedemann Wealth Management LLC boosted its stake in shares of Newfield Exploration by 36.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock worth $148,000 after acquiring an additional 7,664 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Newfield Exploration by 17.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock worth $197,000 after acquiring an additional 1,013 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Newfield Exploration during the 2nd quarter worth $209,000. Finally, Vident Investment Advisory LLC purchased a new position in shares of Newfield Exploration during the 3rd quarter worth $212,000. Institutional investors and hedge funds own 99.71% of the company’s stock.

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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.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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