Newfield Exploration Co. (NFX) Receives Hold Rating from Jefferies Group
Newfield Exploration Co. (NYSE:NFX)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Group in a research note issued to investors on Wednesday. They currently have a $46.00 target price on the energy company’s stock. Jefferies Group’s target price suggests a potential upside of 8.16% from the company’s current price.
NFX has been the subject of several other research reports. Cantor Fitzgerald restated a “buy” rating and set a $44.00 price target on shares of Newfield Exploration in a research note on Wednesday, June 22nd. Howard Weil raised their price target on shares of Newfield Exploration from $47.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Thursday, June 23rd. Barclays PLC raised their price target on shares of Newfield Exploration from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, June 24th. Scotiabank restated a “sector outperform” rating and set a $51.00 price target (up previously from $47.00) on shares of Newfield Exploration in a research note on Saturday, June 25th. Finally, Stifel Nicolaus raised their price target on shares of Newfield Exploration from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $47.43.
Newfield Exploration (NYSE:NFX) opened at 42.53 on Wednesday. Newfield Exploration has a 52-week low of $20.84 and a 52-week high of $47.56. The stock has a 50 day moving average price of $42.99 and a 200 day moving average price of $41.33. The firm’s market cap is $8.37 billion.
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Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, August 2nd. The energy company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.24. Newfield Exploration had a negative net margin of 226.57% and a positive return on equity of 9.07%. The firm had revenue of $381 million for the quarter, compared to analysts’ expectations of $379.74 million. During the same quarter last year, the firm earned $0.46 EPS. The company’s quarterly revenue was down 18.8% compared to the same quarter last year. Equities analysts predict that Newfield Exploration will post $0.76 earnings per share for the current fiscal year.
In related news, Director Pamela J. Gardner sold 10,685 shares of Newfield Exploration stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $46.22, for a total transaction of $493,860.70. Following the completion of the sale, the director now owns 43,749 shares in the company, valued at approximately $2,022,078.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Juanita F. Romans sold 2,015 shares of Newfield Exploration stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $46.04, for a total value of $92,770.60. Following the sale, the director now owns 36,810 shares of the company’s stock, valued at approximately $1,694,732.40. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Newfield Exploration by 12.5% in the second quarter. Vanguard Group Inc. now owns 19,099,273 shares of the energy company’s stock worth $843,806,000 after buying an additional 2,128,367 shares in the last quarter. Wellington Management Group LLP boosted its stake in Newfield Exploration by 49.9% in the first quarter. Wellington Management Group LLP now owns 19,040,494 shares of the energy company’s stock worth $633,096,000 after buying an additional 6,337,413 shares in the last quarter. State Street Corp boosted its stake in Newfield Exploration by 15.0% in the second quarter. State Street Corp now owns 9,771,173 shares of the energy company’s stock worth $431,692,000 after buying an additional 1,271,965 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Newfield Exploration by 1.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,385,350 shares of the energy company’s stock worth $282,105,000 after buying an additional 65,942 shares in the last quarter. Finally, Boston Partners bought a new stake in Newfield Exploration during the second quarter worth approximately $251,784,000. Hedge funds and other institutional investors own 99.63% of the company’s stock.
About Newfield Exploration
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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