Newfield Exploration Co. (NFX) Downgraded by Evercore ISI
Newfield Exploration Co. (NYSE:NFX) was downgraded by equities researchers at Evercore ISI from a “buy” rating to a “hold” rating in a research note issued on Friday, The Fly reports.
Several other equities analysts have also issued reports on NFX. Imperial Capital reiterated an “outperform” rating and set a $53.00 target price on shares of Newfield Exploration in a report on Friday, September 9th. Nomura reiterated a “buy” rating and set a $47.00 target price (up from $43.00) on shares of Newfield Exploration in a report on Tuesday, July 5th. Simmons lifted their target price on shares of Newfield Exploration from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, July 6th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Newfield Exploration in a report on Wednesday, August 3rd. Finally, Williams Capital assumed coverage on shares of Newfield Exploration in a report on Monday, August 29th. They set a “buy” rating and a $58.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Newfield Exploration has a consensus rating of “Buy” and an average target price of $46.67.
Newfield Exploration (NYSE:NFX) opened at 43.14 on Friday. The firm’s 50-day moving average price is $43.09 and its 200 day moving average price is $41.05. Newfield Exploration has a one year low of $20.84 and a one year high of $47.56. The company’s market capitalization is $8.49 billion.
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Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.24. The business had revenue of $381 million for the quarter, compared to analysts’ expectations of $379.74 million. Newfield Exploration had a positive return on equity of 9.07% and a negative net margin of 226.57%. The business’s revenue was down 18.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 EPS. On average, equities research analysts expect that Newfield Exploration will post $0.76 earnings per share for the current fiscal year.
In other news, Director Pamela J. Gardner sold 10,685 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $46.22, for a total transaction of $493,860.70. Following the sale, the director now directly owns 43,749 shares in the company, valued at approximately $2,022,078.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Juanita F. Romans sold 2,015 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $46.04, for a total transaction of $92,770.60. Following the sale, the director now owns 36,810 shares in the company, valued at $1,694,732.40. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.
Several hedge funds have recently made changes to their positions in NFX. PineBridge Investments L.P. raised its stake in Newfield Exploration by 312.2% in the second quarter. PineBridge Investments L.P. now owns 2,333 shares of the energy company’s stock worth $103,000 after buying an additional 1,767 shares during the period. Advisor Group Inc. purchased a new stake in Newfield Exploration during the second quarter worth $110,000. Mizuho Asset Management Co. Ltd. purchased a new stake in Newfield Exploration during the second quarter worth $119,000. Pinkerton Retirement Specialists LLC purchased a new stake in Newfield Exploration during the second quarter worth $171,000. Finally, Mn Services Vermogensbeheer B.V. purchased a new stake in Newfield Exploration during the second quarter worth $199,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.
Newfield Exploration Company Profile
Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China.
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