Newfield Exploration Trading Up 7.2% on Earnings Beat (NFX)
Newfield Exploration (NYSE:NFX) shares were up 7.2% during trading on Wednesday after the company announced better than expected quarterly earnings, Analyst Ratings Network reports. The company traded as high as $28.35 and last traded at $27.51, with a volume of 8,833,988 shares traded. The stock had previously closed at $25.66.
The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.44 by $0.04. The company had revenue of $498.00 million for the quarter, compared to the consensus estimate of $584.36 million.
Several analysts have recently commented on the stock. Analysts at Ned Davis Research upgraded shares of Newfield Exploration from a “sell” rating to a “neutral” rating in a research note on Tuesday, February 18th. Separately, analysts at BMO Capital Markets upgraded shares of Newfield Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. They now have a $30.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Stifel Nicolaus upgraded shares of Newfield Exploration from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. They now have a $32.00 price target on the stock. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.00.
The stock’s 50-day moving average is $24.83 and its 200-day moving average is $26.3. The company’s market cap is $3.666 billion.
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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