Insider Selling: Newfield Exploration CEO Unloads 3,500 Shares of Stock (NFX)
Newfield Exploration (NYSE:NFX) CEO Lee Boothby sold 3,500 shares of Newfield Exploration stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $24.27, for a total transaction of $84,945.00. Following the sale, the chief executive officer now directly owns 220,917 shares in the company, valued at approximately $5,361,656. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Newfield Exploration (NYSE:NFX) traded down 1.58% on Thursday, hitting $24.24. The stock had a trading volume of 1,550,417 shares. Newfield Exploration has a 52-week low of $19.57 and a 52-week high of $32.55. The stock’s 50-day moving average is $26.51 and its 200-day moving average is $26.35. The company’s market cap is $3.227 billion. Newfield Exploration also was the target of unusually large options trading on Monday. Stock investors acquired 7,451 put options on the company. This represents an increase of approximately 673% compared to the typical daily volume of 964 put options.
Newfield Exploration (NYSE:NFX) last released its earnings data on Tuesday, November 5th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.51 by $0.19. The company had revenue of $486.00 million for the quarter, compared to the consensus estimate of $569.43 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 31.0% on a year-over-year basis. Analysts expect that Newfield Exploration will post $1.86 EPS for the current fiscal year.
NFX has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Newfield Exploration in a research note to investors on Monday, December 9th. They now have a $33.00 price target on the stock, down previously from $36.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Newfield Exploration in a research note to investors on Thursday, November 14th. They now have a $31.00 price target on the stock. Finally, analysts at Stifel Nicolaus downgraded shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research note to investors on Thursday, October 24th. They now have a $29.00 price target on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.90.
Newfield Exploration Company (NYSE:NFX) is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids.
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