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Newfield Exploration (NYSE:NFX) was upgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $32.00 target price on the stock. Stifel Nicolaus’ target price indicates a potential upside of 29.19% from the company’s current price. The analysts noted that the move was a valuation call.

Shares of Newfield Exploration (NYSE:NFX) traded down 0.48% during mid-day trading on Friday, hitting $24.77. The stock had a trading volume of 2,119,877 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 $24.47 and its 200-day moving average is $26.43. The company’s market cap is $3.297 billion.

Newfield Exploration (NYSE:NFX) last released its earnings data on Tuesday, November 5th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, analysts predict that Newfield Exploration will post $1.78 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on NFX. Analysts at Barclays cut their price target on shares of Newfield Exploration from $34.00 to $31.00 in a research note to investors on Monday, January 13th. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Newfield Exploration currently has a consensus rating of “Hold” and an average price target of $31.40.

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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