Shares of Newfield Exploration Co. (NYSE:NFX) have earned a consensus recommendation of “Hold” from the twenty-four analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $35.36.
NFX has been the topic of several research analyst reports. Morgan Stanley decreased their price target on Newfield Exploration from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, November 20th. Zacks Investment Research lowered Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. Edward Jones lowered Newfield Exploration to a “hold” rating in a research note on Friday, November 2nd. Susquehanna Bancshares reissued a “neutral” rating on shares of Newfield Exploration in a research note on Friday, November 2nd. Finally, Citigroup lowered Newfield Exploration from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $24.00 in a research note on Friday, November 2nd.
NFX traded down $0.37 during trading on Monday, reaching $16.44. The company’s stock had a trading volume of 5,173,279 shares, compared to its average volume of 7,466,391. Newfield Exploration has a 52-week low of $16.13 and a 52-week high of $35.20. The firm has a market capitalization of $3.37 billion, a PE ratio of 7.65, a P/E/G ratio of 0.39 and a beta of 1.66. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 1.30.
In related news, insider Lee K. Boothby sold 16,161 shares of Newfield Exploration stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $29.25, for a total transaction of $472,709.25. Following the completion of the transaction, the insider now directly owns 194,420 shares in the company, valued at approximately $5,686,785. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.59% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in Newfield Exploration by 5.5% in the 1st quarter. Principal Financial Group Inc. now owns 308,756 shares of the energy company’s stock valued at $7,540,000 after acquiring an additional 15,965 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in Newfield Exploration by 126.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,660 shares of the energy company’s stock valued at $353,000 after acquiring an additional 6,510 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Newfield Exploration by 11.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 17,639 shares of the energy company’s stock valued at $534,000 after acquiring an additional 1,835 shares during the last quarter. BP PLC acquired a new position in Newfield Exploration in the 2nd quarter valued at $787,000. Finally, Aperio Group LLC raised its holdings in Newfield Exploration by 26.4% in the 2nd quarter. Aperio Group LLC now owns 96,065 shares of the energy company’s stock valued at $2,906,000 after acquiring an additional 20,044 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.
Newfield Exploration Company Profile
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.
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